Prestige Group Q2 bookings rise 20% as Bengaluru leads housing demand
Bengaluru-based Prestige Estates Projects Limited, the listed arm of Prestige Group, reported that sales bookings rose 20% year on year to ₹7,225 crore for the quarter ended September 30, 2026, which is the second quarter of financial year 2027. The operational update was made public on Tuesday, 13 October 2026, and the company attributed the growth to firm housing demand, particularly for large branded developers.
The residential business recorded pre-sales of ₹72,250 million in the quarter. For the first half of the year, pre-sales totalled ₹13,804.3 crore, covering 11.88 million square feet and 7,247 units. Bengaluru remained the largest source of sales, contributing 41% of first-half bookings, followed by Hyderabad at 32% and Mumbai at 12%.
Quarterly figures in detail
Average price realisation was about ₹12,375 per square foot in the second quarter and ₹11,618 per square foot across the first half. Customer collections stood at ₹5,294.1 crore for the quarter and ₹10,096.3 crore cumulatively for the half year, a measure of how quickly bookings are converted into cash.
The company launched nine new residential projects during the quarter, adding 10.09 million square feet to its developable area. Construction began on three projects spanning 2.02 million square feet, and work also started on one retail project with 1.39 million square feet of developable area.
Outside housing, the retail business posted gross turnover of ₹721 crore in the quarter, up 10% year on year. Commercial leasing reached 1.7 million square feet of gross leasing in the first half, and exit rentals stood at ₹8,434 million as of September 2026. Malls recorded footfalls of 5.2 million and reached 99% occupancy by the end of September. The hospitality division operated at a 70% occupancy rate in the first half, with average room rates of ₹15,143.
Separately, the company secured a ₹3,000 crore investment from CPP Investments for its hospitality division.
Bengaluru and the northern corridor
Bengaluru's share of 41% in first-half sales reflects the continued pull of the city's technology employment base and its established residential corridors. Growth in the northern part of the city, around the airport, the aerospace park and the surrounding road and utility network, has drawn attention from developers, and Prestige's newest launch in that area sits within this shift.
Prestige Parklane, in Devanahalli on the KIADB Aerospace Park Phase 2 land, was launched on 25 September 2026. The residential project spans around 11.9 acres with 1,788 apartments across nine towers, and carries an estimated gross development value of about ₹1,750 crore. It is registered under Karnataka RERA with a proposed completion date of December 31, 2030.
The developer's scale and track record
Prestige Group is headquartered in Bengaluru and works across residential, commercial, retail and hospitality segments. As of June 2026, the group has delivered 319 projects covering 216 million square feet and has a pipeline of 137 projects spanning 229 million square feet.
The company's bookings have grown in recent periods. Sales bookings rose 39% to ₹4,184 crore in the third quarter of FY26, and the first quarter of FY26 set an all-time high of ₹12,126.4 crore in sales for the quarter ended June 30, 2025.
Outlook and next steps
Chairman and Managing Director Irfan Razack said the response to the new launches remained encouraging despite their late-quarter introduction, and that underlying housing demand continues to be healthy, supported by the group's diversified asset base. In an earlier interview, he described buyers who are purchasing real assets for long-term holding rather than short-term gain.
For the full year, the company has guided to 15% to 20% growth and a pre-sales target of ₹35,000 to ₹36,000 crore. Taking first-half pre-sales of ₹13,804.3 crore away from the lower end of that target implies roughly ₹21,200 crore of bookings in the second half. The company has also unveiled a second-half launch pipeline exceeding ₹40,000 crore. The CPP Investments hospitality investment is in place, and the next updates on the company's launches and bookings are expected with its upcoming quarterly disclosures.