Prestige Estates Projects advanced 2.72% to Rs 406.50 after the company's consolidated net profit surged 45.2% to Rs 127.80 crore in Q3 FY23 as against Rs 88 crore reported in the same period last year.
Revenue from operations surged 74.5% year on year to Rs 2,317 crore in the quarter ended 31 December 2022.The realtor reported profit before tax of Rs 232.10 crore, up 65.7% from Rs 140.10 crore in Q3 FY22.
EBITDA was Rs 604.7 crore while EBITDA margin stood at 25.76% during the period under review.
During the quarter, total expenses spiked 75.39% to Rs 2,113.5 crore. Contractor cost was Rs 610.8 crore (up 75.97% YoY), purchase of materials was at Rs 146.2 crore (up 117.88% YoY), Employee benefits expense stood at Rs 156 crore (up 51.31% YoY) while finance costs was Rs 200.9 crore (up 55.62% YoY)
Prestige Group has a diversified business model across residential, office, retail, and hospitality segments with operations in 12 key locations in India.
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