NEW DELHI: Realty developer Prestige Estates Projects Ltd has approximately Rs 65,000 crore in unrecognized revenue, attributed to robust sales of its residential properties over the past three fiscal years.
The company reported record sales bookings of Rs 30,024 crore during the 2025-26 fiscal year, marking a 76% increase from the previous year.
In an interview with PTI, Chairman Irfan Razack stated, “We have around Rs 65,000 crore in unrecognized revenue on our books. It’s a substantial amount.”
Razack noted that the company employs a completion method for revenue recognition, meaning revenue is recorded only after the completion of real estate projects. However, discussions with auditors are underway to consider transitioning to a percentage of completion method.
Looking ahead, Razack is optimistic about the current fiscal year, anticipating that sales bookings and new launches will surpass those of 2025-26, supported by persistent housing demand despite global economic uncertainties linked to the West Asia conflict.
The company aims to achieve sales bookings of Rs 35,000-36,000 crore in the 2026-27 fiscal year.
Prestige Estates has an estimated launch pipeline of Rs 58,000 crore for the current fiscal, though the actual number of projects launched will depend on government approvals.
Last fiscal year, the company initiated 32 million sq ft of area with potential sales bookings of Rs 27,350 crore.
Recently, Prestige Estates announced that its net profit more than doubled to Rs 1,195.5 crore in the last fiscal from Rs 467.5 crore in 2024-25.
The total income surged to Rs 13,195.5 crore in 2025-26, up from Rs 7,735.5 crore the previous year.
Bengaluru-based Prestige Estates Projects Ltd is a leading real estate developer in India, operating in all major cities.
The group has completed 313 projects covering 206 million sq ft, with a pipeline of 128 projects across 195 million sq ft.
The company specializes in residential, commercial (office complexes and shopping malls), and hospitality projects.
