Prestige Group
Prestige Group

Prestige Group reports results for Q3 and 9 months ended 31 December 2018

ANI | Updated: Feb 14, 2019 15:53 IST

Bengaluru (Karnataka) [India] Feb 14 (ANI):  Prestige Group today reported financial results for the quarter and nine months ended December 31st, 2018.
OPERATIONAL PERFORMANCE (FOR Q3 & 9M FY19):
Total Sales at Rs. 11765 Mn up by 75% YoY; 9M total sales at Rs. 31845 Mn up by 54% YoY
Rental income at Rs. 1874 Mn up by 14% YoY; 9M rental income at Rs. 5529 Mn up by 20% YoY,
Completions at 6.97 Mn sft up by 551% YoY; 9M completions at 24 Mn sft up by 230% YoY,
Total Collections at Rs. 11692 Mn; 9M total collections at Rs. 31643 Mn
Launched 1.56 Mn sft; 9M Launched 3.16 Mn sft
FINANCIAL PERFORMANCE (FOR Q3 & 9M FY19):
Q3F19 total revenue at Rs. 11031 Mn; EBITDA Margin 33% at Rs. 3692 Mn & PAT Margin 6% at Rs. 674 Mn;
9MF19 total revenue at Rs. 33586 Mn; EBITDA Margin 32% at Rs. 10631 Mn & PAT Margin 9% at Rs. 3000 Mn
“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 to achieving this great milestone. The group has also launched seven projects across segments with a developable area of around 3.16 Mn sft”, said Irfan Razack - CMD, Prestige Group.
“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”, said Venkat K Narayana - CEO, Prestige Group. This story is provided by BusinessWireIndia. (ANI)

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