Prestige Estates' Q2 net profit rises by 80% to Rs 141 crore

The real estate company Prestige Estates Projects Ltd said on Wednesday that its consolidated net profit for the third quarter of this fiscal year, which ended in September, increased by 80% to Rs140.7 crore.

Prestige Estates Projects reported its net profit in a regulatory filing as Rs78.3 crore for the same period last year. In the second quarter of this fiscal year, total income increased to Rs1,474.7 crore from Rs1,345.2 crore in the same quarter last year.

One of the top companies for real estate in the nation is Prestige Estate. Despite an increase in home loan interest rates, Prestige Estates Projects Ltd's sales bookings increased 66% year over year to Rs3,511 crore in the second quarter of this fiscal.

Sales bookings for the Prestige Group increased significantly between April and September this year, rising from Rs2,845.9 crore to Rs6,523.1 crore.