Prestige Estates Projects

“Free cash flows what we will get will be in the range of INR9,000 crores.”

“At the overall development level, during Q2, we launched our construction on nine projects across residential, office, retail, and hospitality business, covering around 10 million square feet. This takes the total launches and construction commencement for the first half to 30 million square feet.”

“These five are, why we are confident is, these are already approved. It is only about getting RERA. Now one month of the quarter is already gone by. Now if RERA comes for all these five projects, I think all these five can be launched in this quarter.”

“The next two quarters, we will be commencing with launches such as the Falcon City in Thane, Prestige Bougainvillea Gardens in Sector 150, Noida, Prestige Avon in Bengaluru, and Prestige Springwood in Bengaluru, and Prestige Sea Scapes in Goa.”

“Chambers 51 is Q3 only. Chambers 51 is the office project. That also will be in this quarter only.”

“In fact, there will be one more project is approved in Chennai also, which is Park Street, but we do not want to launch it till our CEC is ready, because it is a luxury project.”

“I think around INR130 average.”

“As a policy, we do not believe in schemes because those only give agony in the end.”

“It is basically general push and probably a lot more effort from the teams.”

“Certain micro markets are a little oversupplied. Certain micro markets, there is demand.”

“For the next two, three years, we are pretty confident that things will sustain. But your guess is as good as mine.”

“and we were trying to see what the response in the market will be for this area and for this product, and it has been phenomenal.”

“Maybe in the second half, it will be slightly higher because we are planning some large launches in the second half.”

“The construction spend generally is higher in Q1, and it tapers down in the Q2. You should see a similar run rate of Q2 in the coming quarters as well.”

“Average realization during Q2 stood at INR12,375 a square foot, while the first half average realization was INR11,618 per square foot.”

“JV assets, the Prestige share of debt which is not consolidated is in the range of INR2,400 crores.”

“Collections continue to remain strong, with INR5,294 crores collected during Q2 and INR10,096 crores collected during the first half.”

“We have generated very healthy cash flows during the period, with operating cash flow of INR2,679 crores in the second quarter and 4,168 crores for the first half.”

“CPP Investments, as you know, the Canadian pension fund, has committed INR3,000 crores for an approximately 20% stake in the platform.”

“Of this, the first tranche of INR1,500 crores has been received in October 2026.”

“Of the INR1,500 crores, INR950 crores has been received by way of secondary sale, that is, the capital has been received in the holding company.”

“And INR550 crores we have received in the PHVL for their future growth.”

“The balance INR1,500 crores we are expecting in two tranches over a period of one to two years, of INR750 crores.”

“INR520 crores, 90 to be precise. INR590 crores.”

“Yes, it has already been paid. It is reflecting in the balance sheet as of September 30.”

“I believe that if the team really get their act together and work hard, we can bring this to market in about nine months on a very optimistic note, 12 months on pessimistic note”

“It is a question of finalizing the tenants and then seeing all the interiors are done and refreshing the entire asset and bringing it in line with our Forum South. So, it is going to be called the Forum South 2.”

“930,000 square feet is the overall leasable area.”

“In some of the cases, the approvals are slightly delayed, because of which we have just revised the completion timelines.”

“I do believe that Hyderabad is still a very strong market, good market, but because of this free FSI policy, there will be a lot of inventory that keeps coming. We need to be careful.”

“The thing is, if I have the product, I can bring it to market anytime, but it is also about approval, regulatory, getting the RERA. So all of this is like a bump for us.”

“Let me start with the residential segment, which continues to be our key growth driver for the company. We recorded sales of INR7,225 crores during Q2 this year”

“This takes our first half sales to INR13,804 crores, with sales volume of 11.88 million square feet and 7,247 units sold.”

“Our geographical diversification continues to be an important strength, with Bengaluru contributing 41%, Hyderabad at 32%, Mumbai at 12%, Chennai at 8%, and the balance 7% coming from our other markets.”

“On the launch front, we launched three residential projects during the quarter, with a combined developable area of 5.91 million square feet and a GDV of approximately INR4,020 crores.”

“We also completed 5 million square feet during the quarter, taking total completions for the first half to 9 million square feet.”