Prestige Estates Projects jumps after robust Q3 outcome

Prestige Estates Projects rose 3.45% to Rs 394.40 after consolidated net profit rose 178.49% to Rs 161.80 crore on 154.48% surge in net sales to Rs 2680.90 crore in Q3 December 2019 over Q3 December 2018.

Consolidated profit before tax (PBT) surged 185.09% to Rs 311.6 crore year-on-year (YoY). Tax expense jumped 71.53% to Rs 70.50 crore during the period under review.

Meanwhile, the S&P BSE Sensex was down 124 points or 0.30% to 41489.

On the BSE, 29,324 shares were traded in the counter so far compared with average daily volumes of 52,070 shares in the past two weeks. The stock hit a high of Rs 401.35 and a low of Rs 391 so far during the day.

 

The stock hit a 52-week high of Rs 426.15 on 20 Jan 2020. The stock hit a 52-week low of Rs 193.1 on 18 Feb 2019.

The stock had outperformed the market over the past one month, jumping 10.16% compared with 0.37% rise in the Sensex.

The scrip outperformed the market in past one quarter, rising 25.41% as against Sensex's 6.64% rise.

The scrip had also outperformed the market in past one year, soaring 78.40% as against Sensex's 14.97% rise.

The large cap company has equity capital of Rs 375 crore. Face value per share is Rs 10.

Prestige Group is a property development company in South India.

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