Prestige Estates Q3 profit down 59 pc at Rs 87.8 cr

Realty firm Prestige Estates Projects Ltd on Thursday reported a 59 per cent fall in consolidated net profit at Rs 87.8 crore for the quarter ended December.

Its net profit stood at Rs 216.4 crore in the year-ago period.

Total income fell to Rs 1,928.2 crore in the third quarter of this fiscal year from Rs 2,696.3 crore in the corresponding period of the previous year, according to a regulatory filing.

Prestige Group has presence in residential, office, retail, and hospitality segments of real estate. It has operations in 12 key locations in India.

The group has completed 249 projects with developable area of 135 million square feet and has 47 ongoing projects across segments, with total developable area of 59 million square feet.

Further, the company has 62 million square feet under planning and holds a land bank with potential developable area of over 27 million square feet.

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