Prestige Estates, has announced its updates on real estate operations for the quarter ending 31st December 2021 & 9MFY22. During Q3FY22, The Group has registered highest ever quarterly sales of INR 42,676 mn, up 111% YoY and has clocked highest ever collections of INR 24,316 mn, up 70% YoY, resultant 9MF22 sales at record INR 71,134 mn and collections at INR 50,054 mn, up 97% and 51% YoY respectively.
Commenting on Q3/9MF22 performance, Mr. Irfan Razack, Chairman, Prestige Group "We are delighted to announce another robust performance during Q3F22. Prestige has clocked highest quarterly sales of INR 42,676 mn, up 111% YoY and collections of INR 24,316 mn, up 70% YoY. 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. It is a very exciting time for the brand, with new launches and markets to support the ambitious growth plans we have set for ourselves. Thanks to the relentless dedication of our employees across the cities. We look forward to continuing to expand our footprint in high growth opportunity markets."
Commenting on this, Mr. Venkat K Narayana, Chief Executive Officer, Prestige Group "We are pleased to announce another record quarterly performance. Throughout 9MFY22, our team continued to deliver, despite the underlying challenges posed by the ongoing pandemic, leading to 9MFY22 new sales growth of 97%. Our 9MF22 sales touched record INR 71,134 mn and collections at INR 50054 mn. We strongly believe there is a tremendous opportunity to expand our core markets as we continue to deliver our quality products on time. As we kick off 2022, our business plan will be anchored by a principal focus on revenue expansion as we continue to capitalize on our brand premium, execution track record and market consolidation theme. We are looking forward to further growth in our sales in 2022, backed by the robust launch pipeline of over 15 mn.sqft."
Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 525.45 as compared to the previous close of Rs. 512.55. The total number of shares traded during the day was 354717 in over 13507 trades.
The stock hit an intraday high of Rs. 553.40 and intraday low of 521.10. The net turnover during the day was Rs. 191555703.00.