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Real estate firm Prestige Estates Projects Ltd on Friday reported an 85 per cent decline in consolidated profit to Rs 17.7 crore for the December quarter on lower income. Its net profit stood at Rs 116.3 crore in the year-ago period. Total income fell to Rs 1,697.9 crore in the third quarter of this fiscal year from Rs 1,970.5 crore in the corresponding period of the previous year, according to a regulatory filing. "Despite the absence of new launches during the quarter, Prestige Group achieved sales of Rs 3,013.5 crore in Q3, FY25, with a total area of 2.23 million sq ft sold across 888 units. The company maintained strong pricing, with an average realisation of Rs 13,684 per sq ft, and recorded healthy collections of Rs 3,257.5 crore during the (December) quarter," the company said. For the nine months ended December 31, 2024, the company reported total sales of Rs 10,065.7 crore, with 8.09 million sq ft area sold across 3,618 units. The average realisation for the period stood a
Realty firm Prestige Estates Projects Ltd's sales bookings fell 43 per cent to Rs 4,022.6 crore in the second quarter of this fiscal despite strong housing demand. In a regulatory filing on Thursday, Prestige Estates informed that it recorded sales of Rs 4,022.6 crore during the July-September quarter against Rs 7,092.6 crore in the year-ago period. During the April-September period, the sales bookings declined to Rs 7,052.2 crore against Rs 1,100.73 crore during the corresponding period of the preceding financial year. Prestige Estates is one of the leading real estate developers in the country.
Realty firm Prestige Group has launched a new housing project in Bengaluru with a sales potential of Rs 1,100 crore. The project 'Prestige Pine Forest', spread over 9 acres, is located at Whitefield in Bengaluru. The company will develop 316 units in 4 towers, the company said in a statement on Monday. Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments -- residential, office, retail, hospitality, property management, and warehouses with operations in more than 13 major locations in India. The group has completed more than 300 projects spanning a developable area of 190 million square feet.
Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period. In a regulatory filing, Prestige Estates said the company sold 2.86 million square feet in April-June against 3.83 million square feet in the corresponding period of the previous year. Total units sold during the first quarter of 2024-25 were 1,364. The average realisation was Rs 11,934 per square feet for apartments, villas and commercial spaces, up by 16 per cent year-on-year (yoy). Plots saw an average realisation of Rs 7,285 per sq ft, up by 46 per cent yoy. "We are pleased with our performance in Q1 FY25, which reflects our robust market presence. Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of Rs 3,000 crore," Irfan Razack
Realty firm Prestige Estates Projects Ltd plans to raise up to Rs 5,000 crore by selling shares to institutional investors and also monetise its hotel business. According to a regulatory filing on Friday, the company's board approved "raising of funds by way of issuance of equity shares or other eligible securities for an aggregate amount not exceeding Rs 5,000 crore by way of qualified institutional placement (QIP) or other permissible mode." The board also approved plans to "monetise assets of the hospitality segment through its arm Prestige Hospitality Ventures Ltd, by way of issue of shares (through primary or secondary or both)." All these decisions are subject to approval of shareholders. For monetisation of hospitality assets, the board has formed a sub-committee to oversee and structure the process. "The committee is tasked with the responsibility of ensuring compliance with all regulatory requirements, coordinating with advisors and underwriters, and making all necessary
Realty firm Godrej Properties on Tuesday reported a 84 per cent increase in sales booking to a record Rs 22,500 crore in the last financial year, on higher volumes amid strong consumer demand for residential properties. Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which on Monday reported pre-sales of Rs 21,040 crore during the last fiscal year. Macrotech Developers has reported sales of Rs 14,520 crore in the previous fiscal. DLF is yet to announce its numbers. These four listed entities are in the race to gain market share. In a regulatory filing, Godrej Properties said the company has achieved its best ever quarterly and annual sales in the fourth quarter of the last fiscal and for the full 2023-24, respectively. During the fourth quarter of the last fiscal, Godrej Properties' sales bookings more than doubled to Rs 9,500 crore year-on-year. Its sales bookings during the last fiscal grew by 84 per cent year-on-year to more than Rs
Realty firm Prestige Estates Projects Ltd on Monday reported a 63 per cent annual increase in sales bookings during the last financial year at Rs 21,040 crore -- an all time high, on strong demand for its residential properties and higher average per square feet realisation. The company's sales bookings stood at Rs 12,931 crore in the financial year 2022-23. Among listed players, Prestige Estates is likely to become the largest real estate developer in the country in terms of sales bookings. DLF, Godrej Properties, Macrotech Developers, Prestige achieved sales bookings of more than Rs 10,000 crore in 2022-23. In a regulatory filing, Bengaluru-based Prestige Estates informed that the company achieved the highest-ever annual sales. "Prestige Group achieved a record-breaking sales milestone of Rs 21,040 crore for FY24, marking a growth of 63 per cent year-on-year," it said. The company attained the highest-ever annual collections of Rs 11,954 crore for FY24, a growth of 22 per cent .
Realty firm Prestige Group on Friday reported more than two-fold jump in sales bookings to Rs 7,092 crore in the second quarter of this fiscal year, on strong demand for residential properties. In a regulatory filing, Prestige Group informed that it has registered sales of Rs 7,092.6 crore, up by 102 per cent year-on-year (yoy). The collections from customers rose 1 per cent to Rs 2,639.8 crore. In terms of volumes, sales bookings rose 50 per cent yoy to 6.84 million square feet. "What makes our achievements even more noteworthy is that in just the first six months of FY'24 we have achieved sales of Rs 11,007 crore, which is close to the sales of the entire 12 months of FY23 of Rs 12,931 crore," Irfan Razack, Chairman and Managing Director, Prestige Group, said. Prestige Group achieved an average realization of Rs 10,369 per square feet, up by 29 per cent yoy for apartments/Villas. Average realization of plot was Rs 6,753 per sq ft, up by 62 per cent. The Group sold 3,659 units