[Tmdl.edu.vn] The company’s total collections was up by 68% yoy at Rs 26,029 mn
Prestige Group registered sales of Rs 35,110 mn (up by 66% yoy) and collections of Rs 26,029 mn (up by 68% yoy) during Q2 FY23. These sales are attributed to 4.55 mn sft volume with an average realisation of Rs 7711/ sft.
The sales for the first half of 2022 was Rs 65,231 mn (up by 129% yoy) and collections of Rs 47,493 mn (up by 85% yoy). The sales during this period are attributed to 8.18 mn sft volume with an average realization of Rs 7,976/sft.
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During Q2 FY23, Prestige Group launched five projects in Bangalore, Hyderabad and Mumbai spread to 7.39 mn sft. These were ‘The Prestige City Meridian Park- Phase-III’ and ‘Prestige Park Drive- Phase-III’ in Bengaluru, ‘Prestige Orchards’ in Hyderabad, ‘Prestige Liberty Towers’ and ‘The Prestige City Mulund- Bellanza Phase-II’ in Mumbai. Three projects totalling 2.58 mn sft – Prestige Park Drive – Phase I&II, Prestige Minsk Square and Forum Falcon City in Bengaluru were completed during the quarter.
During the first half of the year H1 FY23 the new launches totalled 17.06 mn sft and completions 3.35 mn sft, respectively.
Irfan Razack, chairman and managing director, Prestige Group said, “The year has started really well and we have achieved numbers as per our plans. The Prestige City Projects in Bengaluru and Mumbai have received tremendous response. We have great momentum going and spirits are high within the team, to achieve our next level of growth. We are excited to see new launches from various geographies, which will be contributing to sales in the quarters to come.”
Venkat K Narayana, chief executive officer, Prestige Group said, “We achieved sales of Rs 35,110 million (66% yoy) in Q2 FY23 and Rs 65,231 million in H1 FY23 (129% yoy) and well on our way to surpass last year’s performance. We sold 3210 units this quarter translating to 36 Prestige homes / units sold on an average every day.”
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