Prestige Estates gains after robust Q4 earnings

The result was announced after market hours on Tuesday, 21 May 2013.

Meanwhile, the BSE Sensex was up 63.60 points, or 0.32%, to 20175.21.

On BSE, 41,000 shares were traded in the counter as against an average daily volume of 18,267 shares in the past one quarter.

The stock hit a high of Rs 188 and a low of Rs 181.50 so far during the day. The stock had hit a 52-week high of Rs 194.90 on 7 February 2013. The stock had hit a 52-week low of Rs 96.25 on 24 July 2012.

The stock had underperformed the market over the past one month till 21 May 2013, rising 3.09% compared with the Sensex's 5.76% rise. The scrip had also underperformed the market in past one quarter, sliding 1.75% as against Sensex's 4.07% rise.

The mid-cap company has an equity capital of Rs 350 crore. Face value per share is Rs 10.

Prestige Estates Projects' net profit surged 113.89% to Rs 276.07 crore on 101% spurt in total income to Rs 1606.30 crore in the year ended March 2013 over the year ended March 2012.

On a consolidated basis, net profit surged 246.2% to Rs 285.97 crore on 85.1% spurt in total income to Rs 2011.16 crore in the year ended March 2013 over the year ended March 2012.

Prestige Estates Projects is one of the leading real estate development companies operating in the southern part of the country and more specifically in Bangalore.

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