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Prestige Group plans to launch two new housing projects in Noida and Gurugram this financial year. Chairman Irfan Razack said the company is confident about the Delhi-NCR market after recording around ₹10,000 crore in sales bookings in the region during the last financial year.
Real estate developer Prestige Estates Projects is preparing to expand its footprint in Delhi-NCR with the launch of two new residential projects during the current financial year. The upcoming developments, planned in Noida and Gurugram, are expected to generate an estimated ₹6,800 crore, or nearly ₹7,000 crore, in revenue.
The company sees strong opportunities in the Delhi-NCR housing market and plans to increase its presence by offering premium residential communities in fast-growing locations.
The two upcoming projects will have a combined development potential of nearly 8 million square feet. According to the company's investor presentation, these residential developments are expected to become an important part of Prestige Group's growth strategy in North India.
Although the company has not yet announced detailed project specifications, both developments are expected to cater to the growing demand for quality homes in Delhi-NCR.
Prestige Group entered the Delhi-NCR residential market with the launch of Prestige City Indirapuram, which received an encouraging response from buyers. The project recorded more than ₹9,500 crore in pre-sales within its first year.
According to Irfan Razack, Chairman of Prestige Estates Projects, the company also achieved around ₹10,000 crore in sales bookings from the Delhi-NCR market during the last financial year. The strong customer response has encouraged the developer to launch additional projects in the region.
Prestige Estates has planned an extensive launch pipeline for the current financial year. The company expects to introduce projects with a combined estimated sales value of around ₹58,000 crore across several major cities.
However, the final number of launches will depend on receiving the required regulatory approvals. The company believes faster project approvals help speed up development, generate employment, and support overall economic growth.
Prestige Estates reported a strong performance during the previous financial year. The company achieved record sales bookings of ₹30,024 crore, marking a 76% increase compared to the previous year.
The developer also reported a significant improvement in profitability. Its net profit increased to ₹1,195.5 crore, while total income reached ₹13,195.5 crore, reflecting steady business growth across its residential and commercial projects.
The company is now targeting ₹35,000 crore to ₹36,000 crore in sales bookings during the current financial year.
Speaking about the residential market, Irfan Razack said most buyers today purchase homes as a long-term investment rather than for short-term gains. While market activity may vary over time, demand for well-located and quality residential projects continues to remain healthy.
He also said Prestige Estates will continue to explore opportunities for new land acquisitions and invest in construction projects wherever long-term growth prospects are strong.
Prestige Estates Projects has established itself as one of India's leading real estate developers. The company has completed 313 projects covering more than 206 million square feet across different cities.
It currently has 128 ongoing and upcoming projects with a development potential of around 195 million square feet. The planned launches in Noida and Gurugram are expected to further strengthen Prestige Group's position in the Delhi-NCR residential market and support its long-term expansion plans.
As infrastructure improves and demand for premium homes continues to rise, the company remains confident about the future of the region's housing sector.
