Prestige’s BLR project to fetch Rs 550 crore

NEW DELHI: Realty firm Prestige Estates Projects expects Rs 550 cr revenue from its new residential project in Bengaluru.

“The development comprises 285 apartments across two high-rise towers with a developable area of 0.7 million sq ft and has a revenue potential of Rs 550 crore,” Prestige said in a regulatory filing.

It expects its sale bookings to rise 55 per cent this fiscal to touch a high of Rs 20,000 crore on strong demand for residential properties. Its sale bookings stood at Rs 12,931 cr in 2022-23.”We have done pre-sales of around Rs 11,000 cr in the first two quarters. Once all the approvals come and launches happen, we should cross Rs 20,000 cr,” said Prestige Estates CMD Irfan Razack.