Sure! Here’s a rewritten version of the content:
—
NEW DELHI: Prestige Estates Projects has recorded sales of ₹12,126 crore in Q1 FY26, marking a nearly four-fold increase compared to the same quarter last year. The company sold 4,718 units from April to June, resulting in 9.55 million sq ft of saleable area—a 234% year-on-year growth.
Collections reached ₹4,523 crore, up 55% from Q1 FY25. The average realization was ₹13,339 per sq ft for apartments and ₹7,343 per sq ft for plotted developments.
NCR Fuels Growth, Mumbai Sees First Project Completions
This quarter saw a shift in geographical sales, with the National Capital Region (NCR) contributing 59% of total sales, followed by Bengaluru (21%), Mumbai (12%), Hyderabad (5%), and others (3%).
The company launched four new residential projects over the quarter, covering a total development area of 14.94 million sq ft, including its first launch in the NCR. Additionally, Prestige completed five residential projects totaling 5.45 million sq ft.
Steady Performance in Office and Retail Sectors
Prestige’s office division saw new leases of 1.21 million sq ft during the quarter, maintaining healthy occupancy rates at 93.7%. Exit rentals totaled ₹523 crore.
In retail, operational malls generated a gross turnover of ₹590 crore, with occupancy rates climbing to 98.9%. Exit rentals were recorded at ₹218.5 crore.
The company is also progressing with its hospitality platform, having filed a Draft Red Herring Prospectus (DRHP).
Acquisition of Stakes in Two Realty Companies for ₹325 Crore
Prestige has increased its ownership in two real estate development arms for a total of ₹3.25 billion (₹325 crore).
Regulatory filings indicate that the company acquired an additional 49% interest in Prestige Notting Hill Investments, increasing its ownership to 100%. This acquisition was facilitated through its wholly-owned subsidiary, Prestige Falcon Malls, for ₹3 billion. The partnership firm, established in 2006, holds a 70% stake in the Forum South Bangalore retail mall, while Prestige Falcon Malls owns the remaining 30%. Prestige Notting Hill Investments reported a turnover of ₹1,216 crore in FY25.
Additionally, Prestige Estates obtained a 48.99% partnership interest in Prestige AAA Investments, raising its ownership to 99.99%, with this deal amounting to ₹256 million. Prestige AAA, founded in 2014, posted a turnover of ₹2,633 crore in FY25, a significant increase from ₹253 crore the previous year.
—
Feel free to let me know if you need any further modifications!
