Prestige Estates Projects' Shares Climb Over 2 Pc

Prestige Group, based in Bengaluru, announced in a regulatory filing on Friday that it recorded sales of Rs 7,092.6 crore in the second quarter of this fiscal year, representing a YoY increase of 102%. This remarkable growth was driven by robust demand for residential properties.
Prestige Estates Projects' Shares Climb Over 2 Pc

Shares of Prestige Estates Projects climbed more than 2 per cent in late morning trade on Monday after the realty firm reported more than two-fold jump in sales bookings to Rs 7,092 crore in the second quarter.

The stock of the company jumped 2.10 per cent to Rs 681.75 apiece on the NSE.

On the BSE, it rose 1.88 per cent to Rs 681.05 per piece.

Further, the scrip on the both the bourses touched its 52-week peak of Rs 700.95 and Rs 699 apiece on the NSE and BSE, respectively.

In the late morning session, the 30-share BSE Sensex benchmark fell 302.26 points or 0.46 per cent to 65,693.37 points.

In a regulatory filling on Friday, Bengaluru-based Prestige Group informed that it has registered sales of Rs 7,092.6 crore, up by 102 per cent year-on-year (yoy), in the second quarter of this fiscal year, on strong demand for residential properties.

The collections from customers rose 1 per cent to Rs 2,639.8 crore.

In terms of volumes, sales bookings rose 50 per cent y-o-y to 6.84 million square feet.

"What makes our achievements even more noteworthy is that in just the first six months of FY'24 we have achieved sales of Rs 11,007 crore, which is close to the sales of the entire 12 months of FY23 of Rs 12,931 crore," Irfan Razack, Chairman and Managing Director, Prestige Group, said.

The Group sold 3,659 units during the second quarter of this fiscal.

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