Prestige Estates soars after recording strong sales in Q3

18 Jan 2022 , 12:17 PM

The company has clocked highest ever collections of Rs 2,431.6 crore in Q3 FY22, up 70% YoY.

Irfan Razack, chairman, Prestige Group ?The new sales were backed by the great response to our newly launched project; Prestige Avalon, Aspen & Eden Park, Part of The Prestige City, Bengaluru, Prestige Beverly Hills, Hyderabad and the existing inventories across geographies.?

Venkat K Narayana, chief executive officer, Prestige Group, said, ?We are looking forward to further growth in our sales in 2022, backed by the robust launch pipeline of over 15 mn. sqft. ?

Prestige Group has diversified business model across residential, office, retail, and hospitality segments with operations in 12 key locations in India.

The companys consolidated net profit rose 27.35% to Rs 75.90 crore despite a 28.29% decline in sales to Rs 1344.50 crore in Q2 FY22 over Q2 FY21.

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