prestige: Prestige Estates registers highest quarterly sales of Rs 2,111.9 crore
“Despite the challenging environment, Prestige has clocked highest quarterly sales and collections. The new sales were backed by the healthy response to our newly launched project, Prestige Great Acres and the existing inventories across geographies. Prestige Great Acres was sold out within one day of launch without any advertising campaign,” said Irfan Razack, Chairman, Prestige Group.
With the strong Q2F22 sales and collections, the company’s April-September sales touched Rs 2845.8 crore and collections at Rs 2573.8 crore for the same period.
“H2F22 will be an exciting period backed by favurable macro fundamentals and a robust launch pipeline. Apart from the launches in southern market, we are launching three projects in Mumbai and one project in NCR with a combined launch pipeline to the tune of 10 mn sft,” said Venkat K Narayana, Chief Executive Officer, Prestige Group.
The Group has 50 ongoing projects across segments, with total developable area of 62 mn sft. Further it has 68 mn sft under planning and holds a land bank with potential developable area of over 27 mn sft. The company has been graded CRISIL DA1 by CRISIL and also enjoys credit rating of ICRA A+.