Construction Industry News
Prestige Estates reported a quadrupling of its sales bookings at Rs 3,012 crore during the first quarter of this fiscal year due to better demand and lower base effect. Sales postings amounted to Rs 733.9 crore in the period from a year ago, which was badly hit by the second wave of Covid-19.
In a regulatory filing, the Bengaluru-based Prestige Group said it has registered revenue of Rs 3,012.1 crore, of which the Mumbai region contributed Rs 737.8 crore.
“The sale comes from a volume of 3.63 million square feet with an average realization of Rs 8,298 per square foot. The collections done during the quarter were valued at Rs 2,146.4 crore,” the report said.
In the June quarter, the company launched four projects covering 9.67 million square meters. Three projects totaling 0.78 million square feet were completed in the last quarter.
Speaking about the achievement, Irfan Razack, Chairman and Managing Director of Prestige Group, said: “We are delighted to see the contribution of our newly launched projects in Mumbai to our overall numbers and are optimistic about the increasing value they will add in the coming quarters .”
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