OPEN APP
Home >Companies >Prestige Estates profit up 70% in Sep quarter
Total collections for the latest quarter aggregated Rs619.8 crore, up 23%. Photo: Mint
Total collections for the latest quarter aggregated Rs619.8 crore, up 23%. Photo: Mint

Prestige Estates profit up 70% in Sep quarter

Net profit rises to Rs77.6 cr, while its total income grows 93% to Rs504 crore

Mumbai: Prestige Estates Projects Ltd, the real estate arm of the Prestige Group, on Thursday reported a 69.8% increase in net profit for the July-September quarter on improved residential sales.

Net profit increased to Rs77.6 crore in the three months ended 30 September from Rs45.7 crore a year ago. Total income jumped 93% to Rs504 crore.

In the September quarter, Prestige sold more residential units than it did in the corresponding year-ago period. It sold 1,193 residential units and 110,000 sq.ft. of commercial space, aggregating to 1.95 million sq.ft. for the September quarter, compared to 831 residential units and 290,000 sq.ft. of commercial space in the year-ago period.

Total collections for the latest quarter aggregated Rs619.8 crore, up 23%.

Prestige has launched four residential projects in Bangalore and Chennai, aggregating to 5.21 million sq.ft. of developable area.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
Edit Profile
My Reads Redeem a Gift Card Logout