Business Wire India
Prestige Group (NSE: PRESTIGE), today reported financial results for the quarter and nine months ended December 31st, 2018.
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Mr. Irfan Razack – CMD, Prestige Group, said, “It's been a great fiscal for the Company with exceptional growth across parameters. During 9MFY19 we have completed ~24 Mn sqft developments across 17 Projects:- 9 Residential; 5 Office and 3 Retail Projects. With this milestone, the group’s execution track record reached to 231 completed projects across 112 Mn sqft mark since inception. The success of these developments is a testament to the hard work of our team. I would like to thank various stakeholders for their support and contributions in achieving this great milestone. The group has also launched seven projects across segments with a developable area of around 3.16 Mn sft.”
Mr. Venkat K Narayana – CEO, Prestige Group, said, “We are delighted about our robust operational and financial performance for 9MFY19, meeting most of the guidance parameters. During 9MFY19, pre-sales grew by 54% YoY to Rs. 31845 Mn led by a strong demand to our properties across the geographies. Further, Annuity income rose by 20% to Rs. 5529 Mn YoY. Collections were consistent at Rs. 31643 Mn. On a consolidated basis, During 9MFY19, the Group has clocked a turnover of Rs. 33,586 Mn with EBITDA of 32% at Rs. 10631 Mn and PAT of 9% at Rs. 3000 Mn respectively.”
*PEPL will host a conference call to discuss the results at 3 p.m. IST on 13th February 2019. Dial in for the earnings conference call can be accessed at our company’s website, investor section, along with the earnings press release, financial tables, and slide presentation.
Source: Businesswire