The sales during the period is attributed to 6.84 million square feet up by 50% YoY volume with an average realization of 10,369 square feet up by 29% YoY for Apartments & Villas and average realization of 6,753 per square feet (up by 62% YoY) for Plot Sales. The Group sold 3,659 units during Q2 FY24.

During Q2 FY24, the company launched five projects spanning 13.10 million square feet.

During H1 FY24, the Group has registered sales of Rs 11,007 crore and collections of Rs 5,380.6 crore (up 13% YoY). The sales during the period are attributed to 10.7 million square feet (up by 30% YoY) volume with an average realization of Rs 10,338 per square feet (up by 25% YoY) for Apartments & Villas and average realization of Rs 4,825 per square feet up 17% yoy for Plot Sales. The group sold 5935 units during H1 FY24.

During the first half of the year FY24, the new launches totalled 16.20 million square feet. The total completions during the half year stood at 8.11 million square feet.

Commenting on the performance, Irfan Razack, chairman and managing director of Prestige Group said, "We are pleased to announce our outstanding operational results for Q2 and H1 FY24 with several significant accomplishments. What makes our achievements even more noteworthy is that in just the first six months of FY24 we have achieved sales of 11,007 crore, which is close to the sales of the entire 12 months of FY23, of 12,931 crore and we are excited to shape the future of real estate with innovation, quality, and determination."

Venkat K Narayana, chief executive officer of Prestige Group remarked, "This quarter has been marked by significant launches, including Prestige Park Grove and Prestige Serenity Shores which received overwhelming responses, contributing to more than 5,000 crore of the quarterly sales. Mumbai continues to perform well, garnering formidable sales. Another feather in our cap was the inauguration of Kochi's iconic new landmark- the Forum Thomsun Mall.”

Prestige Group has a diversified business model across residential, office, retail, and hospitality segments with operations in 12 key locations in India.

The real estate developer's consolidated net profit slumped 30.3% to Rs 266.90 crore on 13.3% decrease in net sales to Rs 1,680.90 crore in Q1 FY24 over Q1 FY23.

The scrip hit an all time high at Rs 699 in intraday today.