Real estate developer Prestige Estates Projects Ltd has accumulated approximately ₹65,000 crore of unrecognised revenue in its accounts, according to Chairman Irfan Razack. As reported by PTI, Razack emphasized that "We have got about ₹65,000 crore of unrecognised revenue in the book. It is not a small amount." This substantial amount is supported by strong housing sales and record booking values achieved over the past three financial years. The company follows the completion method for revenue recognition, meaning revenue is only recognised once real estate projects are completed. However, the company is now in discussions with auditors to potentially shift towards the percentage of completion method for revenue recognition, representing a significant change from their current completion-based approach.
The company achieved remarkable financial results in the 2025-26 fiscal year, with record sales bookings of ₹30,024 crore, representing a 76% increase from the preceding year. According to PTI, Prestige Estates reported a net profit of ₹1,195.5 crore last fiscal, more than doubling from ₹467.5 crore in 2024-25. The total income rose significantly to ₹13,195.5 crore during 2025-26 from ₹7,735.5 crore in the preceding year. Looking ahead, Chairman Razack expressed optimism about continued strong performance despite global economic uncertainties, with housing demand remaining robust despite the West Asia conflict.
For the 2026-27 fiscal year, the company is targeting ₹35,000-36,000 crore of sales bookings during the current fiscal, with Chairman Razack hopeful that "sales bookings and new launches would be better than those in 2025-26." As reported by PTI, the company has a launch pipeline of approximately ₹58,000 crore for the current fiscal across major cities, with the actual number of project launches dependent on government approvals. Last fiscal, Prestige Estates launched 32 million sq ft area with sales bookings potential of ₹27,350 crore.
The Bengaluru-based company maintains its position as one of India's leading real estate developers with a presence across all major cities. According to PTI, the group has delivered 313 projects spanning 206 million sq ft and maintains a pipeline of 128 projects across 195 million sq ft. The group specialises in developing housing, commercial office complexes and shopping malls, as well as hospitality projects across various Indian cities. The company's diversified portfolio spans housing, commercial development, shopping malls, and hospitality projects across multiple Indian cities.
