From Prestige to Sobha, listed realty firms post best-ever quarterly sales

Buoyed by strong pent-up demand and cuts in levies by governments, listed real estate companies saw record sales in the December quarter.

Bengaluru-based Prestige Estates, Brigade Enterprises, and Sobha posted best ever quarterly sales in October-December.

During the quarter, Prestige racked up sales of Rs 2,026 crore, up 80 per cent quarter-on-quarter and 55 per cent year-on-year (YoY).

An area of 2.98 million square feet (sq ft) was sold with a realisation of Rs 6,790 per sq ft. It, however, posted a 59 per cent YoY decline in its consolidated net profit at Rs 87.8 crore.

“On the back of our scale, efficiency, and