Prestige Estates Projects records highest quarterly sales in Q2

Prestige Estates Projects reported highest quarterly sales of Rs 2111.9 crore in Q2 FY22 compared to Rs 1123.3 crore in Q2 FY21, recording a growth of 88%. Collections improved 35% to Rs 1551.5 crore in Q2 FY22 over Q2 FY21. In terms of volumes, the company sold 3.54 million square feet area in Q2 FY22, achieving a growth of 100%.

For H1 FY22, the company's sales rose 80% to Rs 2845.8 crore and collections increased by 37% to Rs 2573.8 crore over the corresponding period of previous year. Sales volumes rose 92% to 4.6 million square feet area during the period.

The company announced that new sales were backed by the healthy response to its newly launched project, Prestige Great Acres.

Looking ahead, apart from launches in southern market, the company is launching three projects in Mumbai and one project in NCR with a combined launch pipeline to the tune of 10 mn sft.

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