Prestige Estates targets ₹60,000 crore launches in FY26

What Prestige Estates is planning this year

Prestige Estates Projects Ltd. has outlined an aggressive launch and sales plan for the current financial year as it readies new projects across India. The Bengaluru-based developer, which counts BlackRock Inc. and Vanguard Group Inc. among its investors, is targeting about ₹60,000 crore in estimated sales value for the year. The plan is closely tied to project additions across multiple geographies and product categories, with an emphasis on residential launches.

A key near-term variable is the pace of regulatory approvals. One report notes the developer is banking on approvals to drive a 43% jump in sales value. Prestige has previously flagged that regulatory delays influenced its launch cadence in the previous year, which is why clearance timelines are central to how quickly inventory reaches the market.

Pipeline split: ongoing work and upcoming launches

In a separate strategy outline, Prestige Estates disclosed a project pipeline valued at ₹60,000 crore, split between ₹25,000 crore of ongoing projects and ₹35,000 crore of upcoming pipeline. The company’s stated focus areas include Bengaluru, Mumbai, the National Capital Region (NCR), and Hyderabad. Across these markets, Prestige is positioning the pipeline to strengthen both residential and commercial segments.

The broader plan also includes stepping up its presence in hospitality and retail assets. Prestige has indicated it may consider the REIT route for such assets, suggesting a focus on monetisation structures typically used for stabilised, rent-yielding properties.

Residential launch blueprint: projects, area, and GDV

According to a PTI report dated June 1, Prestige Estates plans to launch as many as 25 residential projects this fiscal year. The planned launches add up to 44.80 million square feet of developable area, with an estimated gross development value (GDV) of ₹42,120 crore. The launch pipeline spans Bengaluru, Chennai, Hyderabad, Mumbai, Delhi-NCR and Goa.

This is positioned as a response to strong housing demand, with the company aiming to expand scale after a slower prior year. The same report notes Prestige launched fewer projects in FY2024-25 due to delays in regulatory approvals.

How last year’s launch activity compared

Prestige Estates’ launch activity in FY2024-25 is described as materially lower than what it is lining up now. The company launched 26.28 million square feet in the last fiscal year, with a combined GDV of ₹26,222.8 crore (also cited as ₹26,222.9 crore in another reference). The PTI report also states that sales bookings or pre-sales were affected last year.

The year-end sales bookings figure of ₹14,000 crore is referenced in one summary, alongside a missed goal of ₹26,000 crore. Taken together with the comment on regulatory delays, the disclosures underline that the company’s FY26 plan is built around a quicker conversion of approvals into launches and bookings.

City-wise launch intent: Mumbai, Chennai, Hyderabad, Goa

In an interaction cited with HT.com, Praveer Srivastava, senior vice president at Prestige Group, said the developer is targeting residential project launches with GDV of over ₹50,000 crore across Goa, Bengaluru, Delhi, Hyderabad, Chennai, and Mumbai during the current financial year. He also said the company is aiming for GDV of ₹14,000-15,000 crore from residential launches by the end of Q1 FY26.

The same source lays out city-level plans. In Mumbai, Prestige has ₹10,000 crore worth of launches planned for the fiscal, ranging from ₹2 crore apartments in Prestige City to units priced up to ₹150 crore in Worli’s Nautilus. In Chennai, the company plans ₹3,000-3,500 crore of launches, including Prestige Palladium Garden by end-June and another project in Madhavaram by Q3. Hyderabad is set to see ₹10,000 crore worth of launches, including a Banjara Hills luxury project with apartments priced at ₹8-10 crore, while Goa has ₹3,000 crore in launches planned for the next quarter.

What management has indicated about the launch calendar

Another PTI report (Nov 17) said Prestige Estates plans to launch housing projects worth ₹52,114 crore by March next year, spread across Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR. The planned launch area in that disclosure was more than 53 million square feet, with a total sales bookings value of ₹52,114 crore.

The same conference-call transcript summary includes a progress update from Director Zayd Noaman: gross development value of projects launched in the first half of the fiscal was ₹10,000 crore, of which the second quarter contributed ₹8,600 crore. Prestige Estates CFO Amit Mor also said the company would launch ₹25,000 crore worth of projects in the quarter referenced, with the remaining planned in the fourth quarter of FY25.

Key numbers snapshot

Market context: approvals, pre-sales, and capital recycling

Prestige’s own commentary and PTI reporting put approvals at the centre of execution. FY2024-25 had fewer launches due to regulatory delays, and the current plan is framed as a rebound in new supply hitting the market. If approvals progress as expected, the developer’s larger inventory base could support higher booking volumes than the prior year.

Separately, the company’s mention of hospitality and retail assets, and the possibility of using a REIT route, signals a parallel focus on cash-flowing assets. For real estate developers, the ability to recycle capital from leased assets can influence how quickly new projects are funded and launched, especially when the pipeline is as large as ₹60,000 crore.

Peer activity to watch: Max Estates in NCR

The broader real estate launch cycle is not limited to Prestige. Nitin Kansal, CFO of Max Estates, said the company plans residential launches across Noida and Gurugram worth ₹9,500 crore in the current and next quarter. For new launches, Max Estates has also introduced a project named ‘Estate 361’, an extension of ‘Estate 360’, with an expected launch value of about ₹4,500 crore during the current fiscal year.

These disclosures provide a helpful comparison point for NCR supply trends, particularly as Prestige also plans launches in Delhi-NCR under its FY pipeline.

Analyst expectations and what investors will track next

A set of analyst estimates referenced in the provided material puts the consensus price target for Prestige Estates at ₹1,656.316, with the most bullish target at ₹2,380 and the most bearish at ₹1,350. While targets differ, the near-term scorecard for the company is likely to be operational: the timing of launch approvals, the pace of launches against the stated GDV, and how pre-sales track versus guidance.

For investors, upcoming triggers include further investor presentations, launch-by-launch updates across cities, and any formal movement on the REIT route for hospitality and retail assets if the company proceeds in that direction.

Conclusion

Prestige Estates’ FY26 plan centres on a ₹60,000 crore estimated sales value target and a ₹60,000 crore project pipeline, supported by large residential launches across major cities. The company is also signalling optionality around monetising hospitality and retail assets through a REIT structure. Execution will depend heavily on regulatory approvals, given last year’s delays and the scale of launches now planned. The next set of quarterly disclosures and launch updates will clarify how much of the GDV pipeline converts into on-ground launches and booking momentum.