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Market Chatter: Prestige Estates Projects Targets INR600 Billion Sales Value in Fiscal 2027

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Prestige Estates Projects (NSE:PRESTIGE, BOM:533274) is targeting projects with an estimated sales value of 600 billion Indian rupees in fiscal 2027 as it prepares to launch developments across India, Bloomberg reported Friday, citing Prestige Chairman Irfan Razack.

This would mark a 43% jump in sales value compared with the previous fiscal year, ended March 31, the report said.

Prestige plans to launch projects in Delhi-NCR, Mumbai, Bengaluru, Hyderabad and Chennai, according to the report. Razack told Bloomberg that the company has land and inventory ready, while the timing of project launches will depend on regulatory approvals. He said that the company deferred major project launches during the quarter ending June due to delays in regulatory approvals.

The recently launched Golden Grove project in Hyderabad has an estimated sales value of about 90 billion rupees, Razack told Bloomberg. Prestige holds a 73% stake in the project, the report noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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