Companies

Prestige Group posts ₹87-cr profit in Q3

Our Bureau. Bengaluru | Updated on February 11, 2021

Prestige Estates Projects Limited (Prestige Group) has posted 59.42 per cent lower profits at ₹87.8 crore on a consolidated basis for the third quarter of FY21 against the ₹216.4-crore profit recorded in the same period last year.

The company’s total income is lower by 28.48 per cent to ₹1,928.2 crore against ₹2,696.3 crore in the same period last year.

Commenting on the performance, Irfan Razack, Chairman, Prestige Group, said: “Despite the challenging environment, the company has recorded its highest ever sales and collections during Q3 FY21.”

The group has clocked sales of ₹2,026 crore, up 80 per cent quarter-on-quarter and 55 per cent year-on-year.

Venkat K Narayana, Chief Executive Officer, Prestige Group, said: “The company has lined-up over 10 million square feet for launch this year across Bengaluru, Mumbai, Hyderabad and Chennai markets. And have 40 million square feet under planning. We will continue to deliver robust performance in the years to come.”

Published on February 11, 2021

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