Prestige Estates

In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.

'Currently, we are committed to building an annuity portfolio from the present Rs 460 crore in FY23 to Rs 3,000 crore by FY28'

Realty firm Prestige Estates Projects Ltd on Wednesday reported an 80 per cent increase in its consolidated net profit at Rs 140.7 crore in the September quarter of this fiscal year. Its net profit stood at Rs 78.3 crore in the year-ago period, Prestige Estates Projects said in a regulatory filling. Total income rose to Rs 1,474.7 crore in the second quarter of this fiscal year from Rs 1,345.2 crore in the corresponding period of the previous year. Prestige Estate is one of the leading real estate firms in the country. Prestige Estates Projects Ltd's sales bookings rose 66 per cent year-on-year to Rs 3,511 crore in the second quarter of this fiscal on higher demand despite a rise in home loan interest rates. During the April-September period of this fiscal, Prestige Group's sales bookings more than doubled to Rs 6,523.1 crore from Rs 2,845.9 crore in the corresponding period of the previous year.

Realty firm Prestige Estates Projects Ltd's sales bookings rose 66 per cent year-on-year to Rs 3,511 crore in the second quarter of this fiscal on higher demand despite a rise in home loan interest rates. Prestige Group has registered sales of Rs 3,511 crore in the July-September period against Rs 2,111.9 crore in the year-ago period. The collection from customers increased 68 per cent year-on-year to Rs 2,602.9 crore, the company said in its operational update for the Q2 and H1 of this fiscal filed on stock exchanges. "The sales during this period are attributed to 4.55 million square feet volume with an average realisation of Rs 7,711 per square feet," the company said. During the April-September period of this fiscal, Prestige Group's sales bookings more than doubled to Rs 6,523.1 crore from Rs 2,845.9 crore in the corresponding period of the previous year. The sales during this period are attributed to 8.18 million square feet volume with an average realisation of Rs 7,976 per

Prestige Estates Projects Ltd has a strong presence in South India and the company has made its foray into Mumbai market

This is the highest ever presales for the company and also the highest among listed real estate players that have released their numbers so far

Its sales booking stood at Rs 5,460.8 crore in the 2020-21 financial year

Brokerage and financial firm JM Financial Institutional Securities has given a 'buy' call for Hindalco Industries, Mahindra & Mahindra, Zomato, Bharat Forge, Prestige Estates, and Gujarat State Petronet.

Apollo Hospitals, Ashok Leyland, Bajaj Hindusthan, Divis Labs, Fortis Healthcare, Glenmark, Godrej Industries, IDFC, India Cements, Jet Airways, PFC, Shree Renuka Sugars, Star Health and Voltas to ann

Realty firm Prestige Estates Projects Ltd on Wednesday reported a 59 per cent increase in its consolidated net profit to Rs 93.3 crore for the quarter ended December. Its net profit stood at Rs 58.7 crore in the year-ago period. Total income of Bengaluru-based Prestige Estates, however, declined to Rs 1,396 crore in the third quarter of the fiscal from Rs 1,928.2 crore in the corresponding period of the previous year.

Prestige Estates Projects saw its sales bookings jump twofold to a record Rs 4,267.6 crore in the third quarter of financial year 2021-22 (Q3FY22)

According to Vinay Rajani of HDFC Securities, Nifty has got strong support at 17,944. High of 18,350 registered on Tuesday could act a short term resistance for the index.

The company registered highest ever quarterly sales of Rs 4,267 crore, up 111 per cent year on year (YoY) during October-December quarter (Q3FY22).

The group has completed 255 projects with developable area of 144 million square feet and has 47 ongoing projects across segments, with total developable area of 58 million square feet

Property consultant Colliers expects a fresh office property supply of between 33 and 38 million sq ft every year in the next three years, including the current one

Top listed players eyeing higher market share

Godrej and Prestige posted sales bookings of Rs 6,725 crore and Rs 5,461 crore, respectively, in 2020-21 (FY21)

The real estate sector is undergoing major consolidation as very few developers have the financial stability to undertake large capital-intensive projects, Oberoi Realty's management said

Venkat K Narayana, CEO of Prestige Estates Projects, tells Raghavendra Kamath that residential sales will do well due to multiple factors, and that demand for office properties will remain robust

Reserve Bank of India granted approval for the re-appointment of Chandra Shekhar Ghosh, Managing Director & Chief Executive Officer of Bandhan Bank for a period of three years