Prestige Group Q2 sales rise 20% after H1 sales fall 24%

Prestige Estates Projects reported Q2 FY27 residential sales of Rs 7,225 crore, up 20% year on year, following an H1 FY27 sales decline of 24% to Rs 13,804.3 crore. Prestige Group’s quarterly recovery was led by Bengaluru, which generated Rs 3,927.3 crore, or 54%, of Q2 sales, while collections rose 26% to Rs 5,294.1 crore.

Why did Prestige Group’s H1 FY27 sales decline despite Q2 growth?

Prestige Group’s H1 FY27 sales were Rs 13,804.3 crore, down 24% year on year, while area sold fell 15% to 11.88 million square feet and units sold totalled 7,247. Sales value fell faster than area, alongside a 14% year-on-year decline in apartment and villa average realisation to Rs 11,870 per square foot.

The Q2 FY27 result moved in the opposite direction, with sales increasing 20% year on year to Rs 7,225 crore and area sold increasing 32% to 5.84 million square feet. Q2 sales exceeded the Rs 6,579.3 crore implied for Q1 FY27 by subtracting Q2 sales from the H1 total, indicating that the first-half decline was concentrated in the first quarter rather than extending into Q2.

Prestige Group’s share of H1 sales was Rs 12,795.2 crore, down 19% year on year, compared with total reported sales of Rs 13,804.3 crore. Its share of area sold was 10.88 million square feet, down 6%, while its share of collections was Rs 9,129.6 crore, up 12%, showing that collection growth continued despite lower first-half sales and sold area.

How important was Bengaluru to Prestige Group’s Q2 FY27 sales?

Bengaluru was Prestige Group’s largest Q2 FY27 market, contributing Rs 3,927.3 crore of sales and 54% of the Rs 7,225 crore quarterly total. Its contribution was higher than Hyderabad’s Rs 1,107.3 crore, or 15%, Mumbai’s Rs 847.7 crore, or 12%, and Chennai’s Rs 824.2 crore, or 11%.

For H1 FY27, Bengaluru contributed Rs 5,722.6 crore, or 41% of sales, while Hyderabad generated Rs 4,350.4 crore, or 32%. Bengaluru’s Q2 share was therefore 13 percentage points above its H1 share, while Hyderabad’s 15% quarterly share was 17 percentage points below its H1 proportion.

The leading Q2 project contributors were Evergreen @ Prestige Raintree Park at Rs 1,028 crore, Prestige Parklane at Rs 955.6 crore and Garden Breeze @ The Prestige City Sarjapur at Rs 789.2 crore. These Bengaluru developments contributed to the city’s Rs 3,927.3 crore of quarterly sales.

What happened to Prestige Group’s selling prices and collections?

Prestige Group’s Q2 FY27 average realisation was Rs 12,529 per square foot for apartments and villas, down 16% year on year, while plots averaged Rs 8,490 per square foot, down 11%. In H1 FY27, the corresponding figures were Rs 11,870 per square foot for apartments and villas, down 14%, and Rs 8,166 per square foot for plots, down 3%.

Collections rose despite the lower disclosed realisations. Q2 FY27 collections increased 26% year on year to Rs 5,294.1 crore, and H1 collections increased 16% to Rs 10,096.3 crore. Prestige Group’s share of Q2 collections was Rs 4,738.2 crore, up 22%, while its H1 share was Rs 9,129.6 crore, up 12%.

Gross operational receipts, a cash-flow measure, were Rs 6,644 crore in Q2 FY27 and Rs 12,206.2 crore in H1 FY27. Net cash flow from operating activities was Rs 2,679.8 crore in Q2 and Rs 4,168.6 crore in H1, after development-business construction costs of Rs 2,504.1 crore and Rs 5,163.9 crore, respectively.

Which launches supported Prestige Group’s residential sales?

Prestige Group launched 5.91 million square feet in Q2 FY27 with gross development value, or GDV, of Rs 4,180 crore. The three launches were Prestige Palm Court in Chennai, Garden Breeze @ The Prestige City Sarjapur in Bengaluru and Prestige Parklane in Bengaluru; sales from new launches totalled Rs 2,123 crore in the quarter.

Across H1 FY27, launches totalled 23.14 million square feet and Rs 16,370.6 crore of GDV, with sales from new launches of Rs 6,621.4 crore. Q1 launches were larger at 17.23 million square feet and Rs 12,190.6 crore of GDV, including Prestige Golden Grove in Hyderabad at 14.30 million square feet and Rs 9,501.2 crore of GDV.

Prestige Golden Grove was the largest H1 sales contributor at Rs 3,698.4 crore, followed by Evergreen @ Prestige Raintree Park at Rs 1,775.8 crore. Prestige Parklane, launched in Q2, contributed Rs 955.6 crore in H1, equal to its disclosed Q2 contribution, while TPC Indirapuram contributed Rs 882 crore.

What inventory and delivery activity does Prestige Group report?

Prestige Group reported residential stock of 14.97 million square feet, valued at Rs 21,343.2 crore, across 7,354 units. Ongoing projects accounted for 14.69 million square feet, Rs 21,067.7 crore of stock value and 7,291 units, while completed stock represented 0.28 million square feet, Rs 275.5 crore and 63 units.

Mumbai had the largest stock value at Rs 7,608.1 crore, although Hyderabad had the largest stock area at 6.4 million square feet. Bengaluru held 3.6 million square feet valued at Rs 4,345.2 crore, compared with Hyderabad’s 6.4 million square feet valued at Rs 5,803.9 crore, showing that stock area and value were concentrated differently across cities.

Residential completions totalled 5 million square feet in H1 FY27. The Q2 completion schedule included Meridian Park Phase II at 2.34 million square feet, Meridian Park Phase III at 1.81 million square feet and Prestige Dew Drops at 0.12 million square feet, all in Bengaluru, for a stated Q2 total of 4.27 million square feet.

Conclusion

Prestige Group’s H1 FY27 figures show a contrast between lower sales and higher collections: sales declined to Rs 13,804.3 crore, while collections increased to Rs 10,096.3 crore. Q2 sales growth of 20% and Bengaluru’s 54% contribution indicate that the quarterly recovery was concentrated in the company’s largest Q2 market, even as average realisations remained below the prior-year level.

The next disclosed milestone is the planned pipeline of launches in upcoming quarters, carrying Rs 46,584.7 crore of GDV across 40.39 million square feet. The presentation lists FY27 launches including The Falcon City Reserve in Bengaluru, Prestige Falcon City in Chennai and Prestige Meadows in NCR, while noting that planning-stage areas and GDV may vary with approvals, design and market trends.