Prestige Estates Projects Ltd., which counts BlackRock Inc. and Vanguard Group Inc. among its investors, is targeting about ₹60,000 crore in estimated sales value for this financial year as the developer prepares to launch projects across the country, its billionaire founder said.

The company has the required land and inventory in place but the timing of the launches will depend on regulatory approvals that he is optimistic should come through in due course, Chairman Irfan Razack told Bloomberg News in an interview. Prestige, among India’s top five developers by market value, is targeting a nearly 43% jump in sales value from ₹42000 crore in the previous fiscal year ended March.

India’s residential property market, driven by demand for luxury apartments since the pandemic, has begun to cool. Home sales in the nation’s top eight cities fell 4% over a year earlier in the quarter ended March, according to a report by Knight Frank. While new project launches eased, they have outpaced sales for 14 straight quarters, causing the inventory to swell, largely for units priced above ₹1 crore . 

Razack, who has warned in the past that pockets of stress are building up in the country’s property market, said delays in approvals had caused the company to pause major launches in the quarter ending June. 

The launch pipeline is spread across the country and will be driven by projects in Delhi and the national capital region, Mumbai, Bengaluru, Hyderabad and Chennai, he said. The recently launched Golden Grove project in Hyderabad, in which Prestige owns a 73% stake, carries an estimated sales value of about ₹9,000 crore, Razack said.

The company is nearing completion of a mixed-use development at Delhi Aerocity that includes the Marriott Marquis and St. Regis hotels, and an 8,000-seat convention and exhibition venue. It is also planning a 1.5 million-square-foot mixed-use project in Bengaluru Airport City.

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Published on June 12, 2026