India’s leading real estate developer, Prestige Estates, has announced its update on operational performance for the quarter ending 30th June, 2022. During Q1 FY23, the Group has registered sales of INR 30,121 mn, of which the Mumbai region has contributed INR 7378 mn. The sales have come from 3.63 mn sft volume with an average realization of INR 8298/sft. Collections made during the quarter were to the tune of INR 21,464 mn.
During the quarter, 4 projects were launched spanning 9.67 mn sft, viz Prestige Tech Forest, Prestige Waterfront, Meridian Park Phase II in The Prestige City in Bangalore; and Prestige Bellanza in The Prestige City, Mumbai. Three projects totalling 0.78 mn sft- Prestige Poseidon Annexe, Prestige Woodland Park and Prestige Metropolitan were completed during the quarter.