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Prestige Estates Projects Ltd’s profits are 12.39 per cent higher for second quarter (Q2) of 2015-16 on standalone basis. The company Q2 profits are ₹108.90 crore against ₹96.89 crore during the same period last year.
Total income of the company is also higher by 17.72 per cent at ₹644.47 crore as against ₹547.46 crore recorded last year. EPS basic stood at ₹2.90 (last year ₹2.66 crore).
“Despite subdued housing activity across the country, the company has achieved a satisfactory performance,” said Irfan Razack, CMD, Prestige Group of Companies.
During the quarter, the company sold 693 residential units and 0.05 million square feet of commercial space, aggregating to 1.16 million square feet, which translates to sales of ₹709.1 crore. Of this, Prestige share is 619 units and 0.05 million square feet of commercial space, aggregating to 1.02 million square feet, which translates to sales of ₹605 crore.
As for the total collections for the quarter it aggregated to ₹941.3 crore. (Prestige share of collections for the quarter aggregated to ₹775.5 crore). Similarly last year, total collections stood at ₹961.2 crore and Prestige share of collections was ₹810.1 crore.
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