Prestige Estates on Thursday reported a 55% year-on-year increase in its consolidated net profit to Rs 149 crore for the quarter ended September. The company’s revenue from operations came in at nearly Rs 1,475 crore, up nearly 10% on a y-o-y basis. The Ebitda (earnings before interest, tax, depreciation and amortisation) for the quarter remained flat y-o-y at Rs 415.6 crore.
The Ebitda and net profit margins were at 28.18% and 10.12%, respectively. Ebitda margins declined 226 basis points on a y-o-y basis during the September quarter.
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For Q2FY23, the company recorded sales of Rs 3,511 crore, up 66% y-o-y and collections of Rs 2,603 crore increased 68% y-o-y. The sales during the period are attributed to 4.55 million square feet volume with an average realisation of Rs 7,711 per sq ft. The company sold a total of 3,210 units in the quarter.
For first half of the year, the company registered sales of Rs 6,523 crore, up by 129% y-o-y, while collections increased 85% y-o-y to Rs 4,749 crore. The sales during this period is attributed to 8.18 million sq ft volume with an average realisation of Rs 7,976 per sq ft. The company sold a total of 5,774 units in the first half of the year.