Prestige Constructions FY-23 Annual Report Summary

  • 12 months ago
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Prestige Constructions FY 23 Report

The latest edition of Falcon News, a quarterly magazine by Prestige Group, features exciting upcoming projects by the real estate developer, their quarterly performance, the CEO’s vision, and much more.

Here is a summary of Prestige Constructions’ performance in the last quarter, along with all the important figures you need if you’re considering investing in their properties.

Financial Updates

During FY23, Prestige Constructions registered Revenue of Rs.8772 Crores (up by 33% yoy) and EBITDA of Rs.2543 Crores (up by 46% YoY)

They have registered a Profit After Tax of 11.15%, at Rs.978 Crores.

Operational Updates

  • During FY23, Prestige Constructions registered the highest sales of Rs.12,931 Crores (up by 25% YoY).
  • The average realization per sq ft was Rs.8,812/sft for Apartments/Villas/ Commercial Sales and Rs.4,124/sft for Plot Sales.
  • Collections totaled Rs.9806 Crores (up by 31% YoY) – their highest-ever collections in any year.
  • During FY23, new launches totaled 26.38 mn sft (up by 57% YoY); Residential launches totaled 16.45 mn sft, while launches of capex projects were 9.92 mn sft.

It was a momentous year for our organization, marked by numerous “highest-ever” milestones and impressive year-on-year (YOY) growth.

Venkat K NarayanaCEO, Prestige Group

Other highlights of Prestige Annual Report

Prestige Jasdan – upcoming super-luxurious project in Byculla, Mumbai

The Prestige Jasdan is the featured highlight of the magazine. This ultra-luxurious property is currently under construction and is set to become a new landmark in Byculla, Mumbai. 

The homes have been brilliantly planned and are located in two towers of 44 and 45 storeys. They are open on three sides, providing unobstructed views of the Mahalaxmi racecourse and the Arabian Sea to the West, as well as the Eastern Harbor to the East from all primary rooms.

Contact us if you want to know more about Prestige Jasdan.

Forum Mall – The newest and largest mall in South Bangalore

Prestige Group unveiled the Forum Mall in South Bangalore. The Kanakapura Main Road in Bangalore has become more vibrant with the opening of a new shopping center. Forum Mall, situated near the Konanakunte Cross metro station, houses popular fashion brands, excellent dining options, and entertainment facilities for children, and much more.

Upcoming Projects and New Launches by Prestige Constructions

  • Prestige Jasdan – Byculla, Mumbai
  • Prestige Sanctuary – Nandi Hills, Bangalore
  • Prestige Courtyards – Sholinganallur, Chennai
  • Prestige Clairement – Kokapet, Hyderabad
  • Prestige Windsor Park – Vanagaram, Chennai
  • Ocean Pearl – Kozhikode
  • Prestige ELM Park – Whitefield, Bangalore
  • Prestige Hillside Gateway – Kakanad, Cochin
  • Prestige Lavender Fields – Whitefield, Bangalore
  • Prestige Dew Drops – Doddaballapura, Bangalore
  • Prestige Serenity Shores – Whitefield, Bangalore
  • Prestige Eden Garden – Kochi
  • Prestige Ocean Crest – Dona Paula, Goa
  • Prestige Valley Crest – Bejai, Mangaluru

Numerous accolades to the group

The leading real estate developer has received multiple recognitions from publication houses and the industry.

  • Honored by the International Hospitality Council and the International Institute of Hotel Management
  • Lifetime Achievement Award – Chairman and Managing Director, Irfan Razack
  • Women Achievers in Hospitality Award – Director Corporate Communications, Uzma Irfan
  • Silver recognition at the Healthy Workplace Awards 2023

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