Prestige Estates Projects Q1 Review - All Eyes On Upcoming Mumbai Launches: ICICI Securities
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ICICI Securities Report
Q1 FY22 saw Prestige Estates Projects Ltd.’s gross residential bookings rising 59% YoY in value terms to Rs 7.3 billion on the back of 75% of sales coming from ongoing and completed projects in spite of the second Covid-19 wave.
With a strong pipeline of launches of 12-15 million square feet in H2 FY22, this momentum in residential sales is expected to sustain.
The company is gearing up to launch three new projects in Mumbai across six million square feet in Mulund, Byculla and Bandra and the success of these launches in a new market for Prestige Estate Project is key to the company achieving its vision of Rs 100 billion of annual sales bookings by FY24-25E.
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