Prestige Estates net profit up by 3.4% y-o-y

1 Aug 2024 , 01:56 PM

Prestige Estates Projects Ltd reported a 3.4% year-on-year (YoY) decrease in net profit to ₹307 Crore for the first quarter ending June 30, 2024.

Prestige Estates Projects reported a quarterly net profit of ₹317.8 Crore in a regulatory filing. The company’s revenue from operations climbed 10.8% to ₹1,862.1 Crore, compared to ₹1,680.9 Crore in the previous fiscal year.

EBITDA increased by 51.2% to ₹796.3 Crore in the first quarter of this fiscal year, up from ₹526.7 Crore in the same period last year.

The EBITDA margin was 42.8% in the reporting quarter, up from 31.3% in the same period last fiscal year.

Prestige Estates Projects Limited is an Indian real estate developer. The Company develops real estate projects in the residential, office, retail, and hotel sectors. The Company has completed roughly 250+ real estate projects totalling 151 million square feet.

At around 1.48 PM, Prestige Estates was trading 3.34% lower at ₹1,755.20 per piece, against the previous close of ₹1,815.90 on NSE. The counter touched an intraday high and low of ₹1,820, and ₹1,748.05, respectively.

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