Prestige Group reports results for q3 & 9 months ended 31 December 2018

Prestige Group reports results for q3 & 9 months ended 31 December 2018
13/02/2019 , by , in News/Views

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 by20% YoY,
  • Completions at 6.97 Mnsft up by 551% YoY; 9M completions at 24 Mnsft up by 230%YoY,
  • Total Collections at Rs 11692 Mn; 9M total collections at Rs 31643 Mn
  • Launched 1.56 Mnsft; 9M Launched 3.16 Mnsft

FINANCIAL PERFORMANCE (FOR Q3 & 9M FY19):

  • Q3F19 total revenue at Rs 10981 Mn; EBITDA Margin 34% at Rs.3692 Mn& PAT Margin 6% at Rs 674 Mn;
  • 9MF19 total revenue at Rs 33536 Mn; EBITDA Margin 32% at Rs 10631 Mn& PAT Margin 9% at Rs 3000 Mn

Mr. IrfanRazack – CMD, Prestige Group said, “It’s been a great fiscal for the Company with exceptional growth across parameters. During 9MFY19 we have completed ~24 mnsqft 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 mnsqft 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 mnsft.”

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 MnYoY. Collections were consistent at Rs 31643 Mn. On a consolidated basis, During 9MFY19, the Group has clocked a turnover of Rs 33,536 Mn with EBITDA of 32% at Rs 10631 Mn and PAT of 9% at Rs 3000 Mn respectively”

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