You are here: Home » Companies » Results
Business Standard

Prestige group Q2 sales bookings up 88% to Rs 2,111.9 crore

Real estate firm Prestige Estates Projects Ltd on Monday reported an 88 per cent year-on-year growth in its sales bookings at Rs 2,111.9 crore for the quarter ending September on better housing demand

Prestige group | Q2 results | Real Estate

Press Trust of India  |  New Delhi 

Prestige Estates
Prestige Estates

firm Prestige Estates Projects Ltd on Monday reported an 88 per cent year-on-year growth in its sales bookings at Rs 2,111.9 crore for the quarter ending September on better

Its sales bookings stood at Rs 1,123.3 crore in the year-ago period.

In a regulatory filing, Bengaluru-based firm informed that its sales bookings rose to Rs 2,845.8 crore in the first six months of this fiscal year from Rs 1,584.4 crore in the corresponding period of the previous year.

Chairman Irfan Razack said: "Despite the challenging environment, Prestige has clocked highest quarterly sales and collections."

The new sales were driven by the healthy response its newly launched project, Prestige Great Acres, and the existing inventories across geographies, he added.

Commenting on this, Venkat K Narayana, Chief Executive Officer, said, "H2F22 will be an exciting period backed by favourable macro fundamentals and a robust launch pipeline."

"Apart from the launches in southern market, we are launching three projects in Mumbai and one project in NCR with a combined launch pipeline to the tune of 10 million sq ft," he said.

Prestige Group, one of the leading developers in the country, has diversified business model across residential, office, retail, and hospitality segments with operations in 12 key locations in India.

The group has completed 250 projects with developable area of 136 million sq ft and has 50 ongoing projects across segments, with total developable area of 62 million sq ft.

Further, it has 68 million sq ft under planning and holds a land bank with potential developable area of over 27 million sq ft.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, October 11 2021. 20:47 IST