 "Prestige Estates Q4 result: Profit falls 70% to Rs 140 cr on lower income")
Prestige Estates Projects has posted 70 per cent decline in consolidated net profit at Rs 140 crore for the quarter ended March 2024 on lower income.
Its net profit stood at Rs 468.4 crore in the year-ago period.
Total income fell to Rs 2,232.5 crore in the quarter from Rs 2,938 crore in January-March FY23, according to a regulatory filing late Tuesday.
During 2023-24 fiscal year, net profit rose to Rs 1,374.1 crore from Rs 941.8 crore in the preceding year. Total income increased to Rs 9,425.3 crore from Rs 8,772 crore in 2022-23.
Prestige Estates is one of the leading real estate developers in the country. It has a significant presence in South India.
The company has entered into Mumbai and Delhi-NCR markets.