Prestige Estates reports Q1 sale bookings down 23% at Rs 3,029 cr

Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects.

Its sale bookings stood at Rs 3,914.7 crore in the year-ago period.

In a regulatory filing, Prestige Estates said the company sold 2.86 million square feet in April-June against 3.83 million square feet in the corresponding period of the previous year.

Total units sold during the first quarter of 2024-25 were 1,364.

The average realisation was Rs 11,934 per square feet for apartments, villas and commercial spaces, up by 16 per cent year-on-year (yoy).

Plots saw an average realisation of Rs 7,285 per sq ft, up by 46 per cent yoy.

"We are pleased with our performance in Q1 FY25, which reflects our robust market presence. Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of Rs 3,000 crore," Irfan Razack