Prestige Estates Reports Rs 65,000 Crore Unrecognised Revenue, Plans Revenue Recognition Change
Prestige Estates Projects Ltd reported unrecognised revenue of approximately Rs 65,000 crore, driven by strong housing sales over the past three years. The company achieved record sales bookings of Rs 30,024 crore in fiscal 2025-26, a 76% increase from the previous year. Chairman Irfan Razack stated that Prestige currently uses the completion method for revenue recognition but is considering shifting to the percentage of completion method. The firm aims for Rs 35,000-36,000 crore in sales bookings for 2026-27, with a launch pipeline of around Rs 58,000 crore, subject to government approvals and market conditions.