Increase in debt in September quarter is an overhang
In its last 32 years of operations, the Bengaluru-based Prestige Group has completed 236 real estate projects comprising nearly 125 million sq ft of developable area, mostly in south India
Prestige and its partners expect to have rental income of Rs 10 billion in FY19
Prestige has built over 200 buildings, of which around 70 per cent are in Bengaluru, and has a Crisil DA1 rating that no other realtor in the nation has
Prestige is looking to sell 40-50% stake in its rental assets and could raise about $500 million
The board has approved payment of interim dividend at the rate of 12% i.e. (Rs. 1.2 per share) for the financial year 2015-16.