Prestige Estates Projects rose 1.81% to Rs 295.50 after the company said it acquired 28.99% stake in DB (BKC) Realtors from Trinity Capital.
Prestige Estates Projects said its wholly owned subsidiary, Prestige Falcon Realty Ventures, has acquired 1.32 lakh equity shares, or 28.99% stake (without considering other convertible instruments in the entity), of DB (BKC) Realtors from Trinity Capital (Ten). The announcement was made post trading hours yesterday, 18 November 2019.
On a consolidated basis, the property development company reported 53.8% jump in net profit to Rs 157.20 crore on a 48.1% increase in net sales to Rs 1922.90 crore in Q2 September 2019 over Q2 September 2018.
The Prestige Group is one of the leading and most successful developers of real estate in the country by imprinting its indelible mark across all asset classes. The company is the only developer in South India to boast of such a widely diverse portfolio covering the residential, commercial, retail, leisure and hospitality segments.
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