Tag: Prestige Estates

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Prestige Estates to Buy 50% of Advent Hotels for ₹504 Crore

NEW DELHI: Prestige Estates Projects has entered into an investment agreement to acquire a 50% stake in Advent Convention and Hotels International, as disclosed in a regulatory filing. The acquisition will be completed through a cash payment, with the company and/or its wholly-owned subsidiary planning to invest up to ₹504 crore. The deal is expected to finalize within 45 days from the agreement date. The goal of this acquisition is to develop a commercial project on a 21,978.22 sq meters plot located in Sahar village, Andheri East, Mumbai. The upcoming project will offer a total leasable area of approximately 1.50…

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NCR Housing Launches: National Developers’ Share Hits 13% in 2025

NEW DELHI: Anarock Research reports that the share of national developers in NCR’s residential launches increased to over 13% in 2025, up from just 3% in 2022. The report indicated that national developers launched fewer than 700 units in NCR in 2022, amidst a total of approximately 25,355 residential launches. By 2025, these developers had launched nearly 8,100 units, while the region saw around 61,775 launches overall. Developers featured in the study include notable names such as Godrej Properties, Prestige Estates, Tata Housing, Mahindra Lifespaces, Adani Realty, Sobha, Shapoorji Pallonji Group, and Birla Estates. “In 2022, a mere 3% of…

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Top 11 Developers’ Pre-Sales Jump 18% to ₹1.48 Lakh Crore

NEW DELHI: According to an Anarock Research analysis, the combined pre-sales of 11 listed real estate developers increased by 18% year-on-year, reaching ₹1,48,158 crore in FY26, up from ₹1,25,841 crore in FY25. The analysis focused on major players including Godrej Properties, Prestige Estates, DLF, Macrotech Developers, Signature Global, Brigade Enterprises, Puravankara, Oberoi Realty, Kolte-Patil Developers, Keystone Realtors, and Sobha. Developers with significant exposure to premium and luxury housing exhibited stronger growth over the year. Prestige Estates saw the largest annual growth in pre-sales at 76%, followed by Puravankara at 48%, Keystone Realtors at 33%, Sobha at 30%, Godrej Properties at…

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Prestige Estates’ Pre-Sales Surge 76% to ₹30,024 Crore in FY26

NEW DELHI: Prestige Estates Projects Ltd reported a 10% increase in pre-sales, reaching ₹7,697 crore in the fourth quarter of the previous fiscal year, driven by strong demand for its residential properties. The company’s latest operational update reveals a record pre-sales figure of ₹30,024 crore for the 2025-26 fiscal, marking a 76% rise compared to the previous year. Irfan Razack, Chairman and Managing Director, highlighted the strong year-end, noting consistent sales momentum throughout the year and a solid finish in Q4. He mentioned, “Demand in our key markets has remained positive, and our emphasis on quality, location, and timely delivery…

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Lodha, Oberoi Realty Shares Drop Up to 6% After Block Deals

NEW DELHI: Oberoi Realty and Lodha Developers experienced significant block deals totaling USD 395 million (Rs 3,412 crore) on the stock exchanges, resulting in a decrease in the shares of both real estate giants by up to 6 percent on Wednesday. The transactions, conducted through open market exchanges, involved the sale of institutional stakes in each firm. In the case of Oberoi Realty, around 11 million equity shares, or 3 percent of the company’s total, were sold for USD 230 million (Rs 1,987.02 crore) at a floor price of Rs 1,753.20 per share, indicating a 4 percent discount from the…