Prestige Estates FY11 net rises 29% to Rs 167 cr

Bangalore-based realty firm Prestige Estates Projects today said its consolidated net profit grew 28.74% to Rs 166.66 crore in the year ended March 31, 2011, over the previous fiscal.

The group had a consolidated net profit of Rs 129.45 crore in the last fiscal, Prestige Estates Projects said in a filing with the Bombay Stock Exchange (BSE).

Consolidated total income climbed up to Rs 1,543.11 crore in the year under review from Rs 1,024.44 crore in the same period last year.

For the year ended March 31, 2011, standalone net profit of the company increased to Rs 203.55 crore from Rs 141.73 crore in the previous year.

Standalone total income of the firm increased to Rs 1,385 crore in the year under review from Rs 949.67 crore in the last fiscal.

The board at its meeting held today recommended a dividend of Rs 1.20 per equity share of Rs 10 each for the FY11.

It need not report segment-wise results as the company primarily operates in a single business segment of real estate development and letting out developed properties, it said.

Shares of the company closed at Rs 141.40, down 4.88% from the previous close on the BSE.