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Realty firm Prestige Estates today reported 21 per cent increase in its consolidated net profit at ₹107.1 crore for the fourth quarter of last fiscal on higher sales. Its net profit stood at ₹ 88.1 crore in the year-ago period, Bengaluru-based developer said in a regulatory filing.
Total income rose by 27 per cent to ₹1,861.6 crore in the January-March quarter of 2017-18 fiscal from ₹1,463.3 crore in the corresponding period of the previous year. During the full 2017-18 financial year, the company’s net profit increased to ₹371.3 crore from ₹264.9 crore in the previous year. Total income also went up to ₹5,566.5 crore during last fiscal from ₹4,861.7 crore in the 2016-17 fiscal.
The company also plans to raise up to ₹ 350 crore through issue of debentures. The board approved issuance of non-convertible debentures for an overall aggregate amount of ₹350 crore on private placement basis. It recommended payment of final dividend of ₹1.2 per share for last fiscal.
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