Prestige targets Rs 62,955 crore GDV from residential launches

Prestige Estates Projects has disclosed a Rs 62,955.3 crore gross development value, or GDV, launch schedule spanning 62.78 million square feet, comprising Rs 16,370.6 crore launched in H1 FY27 and Rs 46,584.7 crore planned for upcoming quarters. The schedule also includes one Mumbai commercial-sale project alongside residential schemes.

What is Prestige’s disclosed launch pipeline worth?

Prestige’s disclosed launch schedule is valued at Rs 62,955.3 crore of GDV across 62.78 million square feet. It combines Rs 16,370.6 crore across 22.39 million square feet launched in H1 FY27 with Rs 46,584.7 crore across 40.39 million square feet planned for upcoming quarters.

Prestige Golden Grove in Hyderabad was the largest H1 FY27 launch in the schedule, with 14.30 million square feet and Rs 9,501.2 crore of GDV. The other H1 launches were Prestige Gardenia Estates Ph II in Bengaluru, Prestige Forest Hills @ TPC Mulund - Ph2 in Mumbai, Garden Breeze @ TPC, Prestige Parklane in Bengaluru and Prestige Palm Court in Chennai.

The presentation reports a different H1 area total on its launches page, which shows 23.14 million square feet against 22.39 million square feet in the GDV schedule, although both pages show Rs 16,370.6 crore of GDV. The difference is associated with Prestige Forest Hills @ TPC Mulund - Ph2, shown as 2.45 million square feet on the launches page and 1.70 million square feet in the GDV schedule.

Which projects account for the planned launch value?

Prestige’s planned upcoming-quarter schedule is led by The Falcon City Reserve in Bengaluru at Rs 8,500 crore of GDV and Prestige Chambers 51 in Mumbai at Rs 7,700 crore. Prestige identifies Chambers 51 as commercial sale, so the Rs 62,955.3 crore headline total is not solely residential despite being presented within the residential portfolio material.

Chennai provides two Rs 5,000 crore planned projects, Prestige Falcon City and Prestige Clover Dale, plus Prestige Park Street at Rs 1,503.9 crore. Together, those three Chennai projects carry Rs 11,503.9 crore of GDV, compared with Rs 8,040.4 crore for the two NCR projects, Prestige Meadows and Prestige Bougainvillea Gardens.

Hyderabad’s planned projects are Prestige Rock Cliff at Rs 909.3 crore and The Prestige Place - Budvel at Rs 2,042.6 crore, together Rs 2,951.9 crore. In Bengaluru, The Falcon City Reserve’s listed 6.56 million square feet is larger than the 1.67 million square feet shown for Prestige Southern Star Ph II, while their GDVs are Rs 8,500 crore and Rs 1,426.1 crore respectively.

The schedule spans mid-segment, premium, luxury and plots classifications. Examples include mid-segment Prestige Falcon City in Chennai at Rs 5,000 crore, premium Palm Coast @ Prestige Sea Scapes in Goa at Rs 906.5 crore, luxury Prestige Rock Cliff at Rs 909.3 crore, and plot project Beach Gardens @ Prestige Sea Scapes at Rs 746.7 crore.

How does the launch plan compare with Prestige’s ongoing portfolio?

Prestige has 48 ongoing residential projects with 119 million square feet of developable area, exceeding the 62.78 million square feet in the disclosed launch schedule. Bengaluru is the largest ongoing market at 46.65 million square feet, followed by Hyderabad at 37.43 million square feet and Mumbai at 14.83 million square feet.

Prestige’s share of the ongoing Bengaluru area is 37.01 million square feet, compared with 23.19 million square feet in Hyderabad and 13.36 million square feet in Mumbai. Economic interest varies by project: Prestige Golden Grove has a 73% interest on 14.30 million square feet, whereas Prestige Raintree Park has 100% interest on 4.67 million square feet.

The completion schedule runs from FY26 to FY33. Prestige Golden Grove is listed for FY31 completion, while Mumbai projects Prestige Nautilus and Prestige Forest Hills @ TPC Mulund - Ph2 are listed for FY33, showing that parts of the ongoing portfolio extend beyond the near-term launch window.

Residential completions reached 5 million square feet in H1 FY27, comprising 0.73 million square feet in Q1 FY27 and 4.27 million square feet in Q2 FY27. The Q2 figure was higher by 3.54 million square feet, with Meridian Park Phase II and Meridian Park Phase III in Bengaluru together accounting for 4.15 million square feet.

What cash flow does Prestige estimate from its residential portfolio?

Prestige estimates Rs 58,087.3 crore of free cash flow from sales across ongoing, completed and upcoming projects. The upcoming portfolio accounts for Rs 34,013.1 crore, exceeding the Rs 24,074.2 crore estimated for ongoing and completed projects.

For ongoing and completed projects, Prestige lists estimated value of Rs 103,226.3 crore, balance to collect of Rs 38,400 crore, stock of Rs 21,343.2 crore and refundable deposits of Rs 471.6 crore. It lists Rs 36,140.5 crore as balance to spend, resulting in the stated Rs 24,074.2 crore free-cash-flow estimate.

The upcoming-project estimate uses Rs 69,277.3 crore of estimated value, refundable deposits of Rs 599.3 crore and Rs 35,863.6 crore of balance to spend. Prestige’s resulting estimate of Rs 34,013.1 crore is distinct from the Rs 46,584.7 crore GDV of projects planned for upcoming quarters because the two disclosures use different portfolio and cash-flow measures.

Prestige also reported Rs 21,343.2 crore of residential stock across 14.97 million square feet, of which 14.69 million square feet was ongoing and 0.28 million square feet was completed. By value, ongoing stock was Rs 21,067.7 crore, compared with Rs 275.5 crore of completed stock.

Where is Prestige’s unrecognised revenue concentrated?

Prestige reports Rs 75,584.7 crore of unrecognised revenue, with Bengaluru contributing the largest location balance at Rs 33,258.9 crore. Mumbai follows at Rs 15,634.2 crore and Hyderabad at Rs 15,144.6 crore, while NCR accounts for Rs 9,056.1 crore.

Chennai has Rs 1,676 crore of unrecognised revenue, and Kochi and other locations have Rs 814.9 crore. Bengaluru’s balance is more than twice Mumbai’s reported amount, while the presentation does not provide a timetable for recognition of the Rs 75,584.7 crore total.

The geographic concentration of unrecognised revenue overlaps with the development footprint, although the disclosures are not a project-by-project reconciliation. Bengaluru has 46.65 million square feet of ongoing projects and Hyderabad has 37.43 million square feet, compared with Mumbai’s 14.83 million square feet.

Conclusion

Prestige’s disclosure sets out a Rs 62,955.3 crore GDV schedule across 62.78 million square feet, alongside Rs 58,087.3 crore of estimated portfolio free cash flow and Rs 75,584.7 crore of unrecognised revenue. Bengaluru, Hyderabad, Mumbai, Chennai and NCR recur across launches, ongoing construction and the revenue balance, although the launch GDV table includes the Rs 7,700 crore commercial-sale project Prestige Chambers 51.

The next milestones are the Rs 46,584.7 crore planned upcoming-quarter launches and the delivery dates from FY27 through FY33 for ongoing projects. Prestige says areas for projects under planning may vary after design and approvals, while GDV may vary with market trends, leaving the final scale and value of the planned schedule subject to revision.