Prestige Group launches 620 homes worth Rs 2,200 cr for sale in Ghaziabad

Real estate firm Prestige Estates Projects Ltd has launched 620 apartments for sale in Ghaziabad with an estimated turnover of Rs 2,200 crore, as part of its strategy to expand its business amid strong demand for premium properties.

In April this year, Bengaluru-based Prestige Estates entered the Delhi-NCR market with the launch of its 62.5-acre township project in Ghaziabad, Uttar Pradesh.

In the first phase of its township, ‘The Prestige City, Indirapuram’, Prestige Estates had launched two housing projects – Oakwood and Mulberry, comprising 3,421 units with a total sales value of around Rs 9,000 crore.

The company has sold almost all the units launched in the first phase and has now launched the second phase, ‘Mayflower’, comprising 620 units.

Praveer Shrivastava, Senior Executive VP, Residential, Prestige Group, said the total estimated Gross Development Value (GDV) of this new phase is approximately Rs 2,200 crore.

The township is spread over 62.5 hectares in Indirapuram Extension on National Highway 24. With the successful launch of this project in Indirapuram, Prestige Estates has clocked healthy growth in sales bookings during the first six months of this fiscal. Recently, the company reported a 50 percent increase in its sales bookings to Rs 6,017.3 crore during the second quarter of this fiscal on better residential demand.

In a regulatory filing, the company noted that growth in sales bookings or pre-sales was driven by robust demand across markets and segments.

Sales volume for the September quarter was 4.42 million square feet, up 47 percent year-on-year.

The company sold 2,069 units in the July-September period.

The average realization for apartments rose 8 percent year-on-year to Rs 14,906 per square meter, while plots saw a sharp increase of 43 percent to Rs 9,510 per square meter.

During the first half of this fiscal, Prestige Estates posted a record revenue of Rs 18,143.7 crore, up 157 percent year-on-year.

The company has surpassed the total number of sales bookings in the financial year 2024-2025.

Sales volumes in the April-September period of this financial year amounted to 13.96 million square meters, which equates to 6,788 units sold.

Irfan Razack, chairman and chief executive of Prestige Group, said the company has reported an excellent first half year, marked by record sales and strong collections.

“What makes this performance even more satisfying is the contribution from multiple regions – Bengaluru, NCR and Mumbai have all performed exceptionally well,” he had said.

As of June 2025, the group has completed 307 projects spread over 199 million square meters and currently has a pipeline of 132 projects spread over 200 million square meters.