June 28, 2026 |
Prestige Group holds Rs 65,000 crore unrecognised revenue in books on record pre-sales: Chairman Irfan Razack
Realty firm Prestige Estates Projects Ltd has around Rs 65,000 crore of unrecognised revenue in its account, driven by strong sales of its housing properties during the last three financial years.
Prestige Estates achieved a record sales bookings of Rs 30,024 crore during the 2025-26 fiscal, up 76 per cent from the preceding year.
In an interview with PTI, Prestige Estates Chairman Irfan Razack said, “We have got about Rs 65,000 crore of unrecognised revenue in the book. It is not a small amount”.
He mentioned that the company follows the completion method for recognition of revenues. This means that revenue gets recognised once the real estate project gets completed.
However, Razack said the company is in discussion with auditors to shift towards the percentage of completion method.
On the outlook for the current fiscal, the company’s chairman was hopeful that sales bookings and new launches would be better than those in 2025-26, as housing demand continues to be good despite global economic uncertainties amid the West Asia conflict.
Razack said the company is targeting to achieve Rs 35,000-36,000 crore of sales bookings or pre-sales during the 2026-27 fiscal.
The company has a launch pipeline of around Rs 58,000 crore for the current fiscal across major cities, he said, adding that how many projects it ends up launching would depend on government approvals.
Last fiscal, Prestige Estates launched 32 million sq ft area with sales bookings potential of Rs 27,350 crore.
Recently, Prestige Estates Projects reported that its net profit jumped over two times to Rs 1,195.5 crore last fiscal from Rs 467.5 crore in 2024-25.
The total income rose to Rs 13,195.5 crore during 2025-26 from Rs 7,735.5 crore in the preceding year.
Bengaluru-based Prestige Estates Projects Ltd is one of the leading real estate developers in the country with a presence across all major cities.
The group has delivered 313 projects spanning 206 million sq ft. It has a pipeline of 128 projects across 195 million sq ft.
The group develops housing, commercial (office complexes and shopping malls) and hospitality projects.
Source: The Economic Times
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