Prestige Estates Projects reported pre-sales of Rs 72.25 billion in Q2FY27, beating Nomura's estimate of Rs 60 billion despite a "significantly volatile macro backdrop".
The company's pre-sales rose 20% year-on-year and 10% quarter-on-quarter. The beat was "primarily due to higher than expected sustenance sales", Nomura said. Average realisation in Q2FY27 stood at Rs 12,375 per square foot.
Nomura maintained its FY27 pre-sales estimate of Rs 350 billion, up 17% year-on-year, and expects launch momentum to "significantly improve into the year". Of the Rs 570 billion in total planned launches for FY27, the company has launched only around Rs 160 billion so far.
The brokerage estimates that, among the eight real estate players that have provided operational updates so far, Q2FY27 has turned out to be the "third-strongest quarter over the past 10 quarters", highlighting "the resilience of the sector".
Prestige Estates' collections stood at around Rs 53 billion in Q2FY27, up 26% year-on-year.