Prestige Estates Share Price Edges Up 2% After Firm Secures Over Rs 2,500 Crore in Hyderabad Project Sales
Prestige Estates Shares Rise 2% as Hyderabad Project Exceeds Sales Target
On April 21, shares of Prestige Estates rose 2% as the real estate firm sold units worth over Rs 2,500 crore of its Hyderabad project, Prestige Golden Grove. The project, one of the largest single-phase developments in Hyderabad, witnessed over 4,000 customer footfalls, among the highest seen for a residential launch in the city, highlighting significant market interest.
The company achieved sales of over 1,700 units within two weeks of launch, translating to a total sales value exceeding Rs 2,500 crore, reflecting robust early traction. The encouraging response reflects continued customer interest and confidence in well-located, thoughtfully designed residential developments.
At 12 pm on April 21, Prestige Estates shares were trading 2.4% higher at Rs 1,406.5 apiece, while the Nifty Realty index was trading 2.7% higher.
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Located in Tellapur, Prestige Golden Grove is a large-scale residential development spread across 29 acres, comprising approximately 5,120 units across 10 towers, with a total estimated gross development value (GDV) of Rs 9,500 crore.
The strong response to Prestige Golden Grove reflects the depth of demand for well-located, well-planned residential communities at the right price points. Hyderabad continues to be an important market for Prestige Group, supported by infrastructure growth and a strong employment ecosystem, and the company remains focused on bringing the right products to market as it expands its presence across key urban centres.
| Company | Quarterly Sales | Total Sales Value (Rs crore) |
|---|---|---|
| Prestige Estates | Over 1,700 units | Over 2,500 |
Key Statistics
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- Total sales value: Over Rs 2,500 crore
- Number of units sold: Over 1,700
- Total estimated gross development value (GDV): Rs 9,500 crore
- Location: Tellapur, Hyderabad
- Project size: 29 acres
- Number of units: Approximately 5,120
- Towers: 10
Investor Takeaway
Investors should consider Prestige Estates for its strong sales performance in the Hyderabad project.
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