Prestige Estates Projects Achieves Record ₹30,024 Cr FY26 Pre-Sales, Up 76% YoY

Prestige Estates Projects Limited has achieved a landmark milestone with record-breaking FY26 annual pre-sales of ₹30,024 crore, representing a remarkable 76% year-on-year growth. The real estate developer also reported strong quarterly performance with Q4 pre-sales of ₹7,697 crore, marking a 10% increase during the quarter.

Record-Breaking Annual Performance

The company's FY26 pre-sales performance marks the first time Prestige Estates has crossed the ₹30,000 crore threshold in annual pre-sales, reflecting the scale and depth of its operations across markets. This achievement was driven by sustained traction across key markets and steady demand for well-located, high-quality developments.

Performance Metric	FY26 Achievement	Growth Rate
Annual Pre-Sales	₹30,024 crore	+76% YoY
Q4 Pre-Sales	₹7,697 crore	+10% YoY
Market Milestone	First time crossing ₹30,000 crore	Historic High

Strong Market Presence Across Geographies

The company witnessed sustained traction across its key markets during FY26, with healthy contributions from Bengaluru, NCR, Mumbai, Hyderabad, and Chennai. Sales momentum remained consistent across both new launches and ongoing inventory, reflecting resilient end-user demand and the company's strategic market positioning.

Management Commentary and Outlook

Commenting on the performance, Mr. Irfan Razack, Chairman and Managing Director, expressed satisfaction with the strong finish to FY26. He highlighted that demand across key markets has remained encouraging, with the company's focus on quality, location, and timely execution continuing to resonate well with customers. The management remains optimistic about sustaining momentum in the coming year, supported by a robust pipeline of upcoming launches across geographies.

Strategic Focus and Market Position

The record performance establishes Prestige Estates Projects as a strong performer in the real estate sector, demonstrating the company's ability to capitalize on favorable market conditions while maintaining a disciplined and measured approach to growth. With a legacy of almost four decades, the Group has delivered 313 projects spanning 206 million square feet and currently maintains a pipeline of 128 projects across 195 million square feet.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.11%	+15.24%	-1.21%	-12.84%	+21.37%	+323.56%

Prestige Estates Projects has received a maintained Buy rating from Jefferies, though the brokerage has revised its target price downward from ₹1,850 to ₹1,635. The adjustment reflects several macroeconomic and geopolitical factors impacting the real estate sector.

Impact of Middle East Conflict on Demand

Jefferies highlighted that the ongoing Middle East conflict is expected to slow home-buying decisions during Q1FY27. This geopolitical uncertainty has created a cautious environment among potential homebuyers, leading to delayed purchase decisions in the near term.

Revised Growth Projections

The brokerage has significantly trimmed its pre-sales growth forecast for FY27, projecting approximately 6% year-on-year growth compared to the robust 21% growth achieved in FY26. This represents a substantial moderation in growth expectations for the company.

Parameter	FY26	FY27E	Change
Pre-sales Growth (YoY)	21%	~6%	-15 percentage points
Target Price (Previous)	₹1,850	-	-
Target Price (Revised)	-	₹1,635	-₹215

Market Conditions and Interest Rate Environment

Jefferies noted that interest rates and capitalization rates have increased by 50 basis points, creating additional headwinds for the real estate sector. These higher rates typically impact both buyer affordability and developer financing costs, contributing to the more conservative outlook.

Valuation Perspective

Despite the near-term demand slowdown and reduced growth projections, Jefferies believes the sharp valuation correction in the stock limits further downside risk. This perspective supports the maintained Buy rating even as the target price has been adjusted lower to reflect current market realities.