Prestige Estates Q3FY22 sales bookings jump over 2-fold to record Rs 4,268 cr

Realty firm Prestige Estates on Monday reported over two-fold jump in sales bookings at record Rs 4,267.6 crore for the quarter ended December.

The company's sales bookings stood at Rs 2,026 crore in the year-ago period.

The Bengaluru-based Prestige group has also clocked the highest-ever collections of Rs 2,431.6 crore during the December quarter, up 70 per cent year-on-year.

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During April-December 2021, the company's sales bookings rose 97 per cent to record Rs 7,113.4 crore as against Rs 3,610.3 crore in the corresponding period of the previous year.

The collections rose 51 per cent at Rs 5,005.4 crore during the first nine months of this fiscal as against Rs 3,307.6 crore in the corresponding period of the previous year.

Prestige group Chairman Irfan Razack said, ?The new sales were backed by the great response to our newly launched project and the existing inventories across geographies."

The company looks forward to continuing to expand its footprint in high growth opportunity markets, he added.

Venkat K Narayana, Chief Executive Officer, Prestige Group, said, "We strongly believe there is a tremendous opportunity to expand our core markets as we continue to deliver our quality products on time."

The company is looking forward to further growth in its sales bookings in 2022, with a launch pipeline of over 15 million square feet, he added.

Prestige Group has operations in 12 locations in India.

The group has completed 255 projects with developable area of 144 million square feet and has 47 ongoing projects across segments, with total developable area of 58 million square feet.

Further, it has 79 million square feet under planning and holds a land bank with potential developable area of over 27 million square feet. PTI MJH