Total Sales at INR 11765 Mn up by 75% YoY; 9M total sales at INR 31845 Mn up by 54% YoY
Prestige Group (NSE: PRESTIGE), today reported financial results for the quarter and nine months ended December 31st, 2018.
Operational Perfomance (for Q3 & 9M FY19):
- Total Sales at Rs. 11765 Mn up by 75% YoY; 9M total sales at Rs. 31845 Mn up by 54% YoY
- Rental income at Rs. 1874 Mn up by 14% YoY; 9M rental income at Rs. 5529 Mn up by 20% YoY,
- Completions at 6.97 Mn sft up by 551% YoY; 9M completions at 24 Mn sft up by 230% YoY,
- Total Collections at Rs. 11692 Mn; 9M total collections at Rs. 31643 Mn
- Launched 1.56 Mn sft; 9M Launched 3.16 Mn sft
Financial Prefomance (for Q3 & 9M FY19):
- Q3F19 total revenue at Rs. 11031 Mn; EBITDA Margin 33% at Rs. 3692 Million & PAT Margin 6% at Rs. 674 Million;
- 9MF19 total revenue at Rs. 33586 Mn; EBITDA Margin 32% at Rs. 10631 Million & PAT Margin 9% at Rs. 3000 Mnillion
Irfan Razack – CMD, Prestige Group, said, “It’s been a great fiscal for the Company with exceptional growth across parameters. During 9MFY19 we have completed ~24 Mn sqft developments across 17 Projects:- 9 Residential; 5 Office and 3 Retail Projects. With this milestone, the group’s execution track record reached to 231 completed projects across 112 Mn sqft mark since inception. The success of these developments is a testament to the hard work of our team. I would like to thank various stakeholders for their support and contributions in achieving this great milestone. The group has also launched seven projects across segments with a developable area of around 3.16 Mn sft.”
Venkat K Narayana – CEO, Prestige Group, said, “We are delighted about our robust operational and financial performance for 9MFY19, meeting most of the guidance parameters. During 9MFY19, pre-sales grew by 54% YoY to Rs. 31845 Mn led by a strong demand to our properties across the geographies. Further, Annuity income rose by 20% to Rs. 5529 Mn YoY. Collections were consistent at Rs. 31643 Mn. On a consolidated basis, During 9MFY19, the Group has clocked a turnover of Rs. 33,586 Mn with EBITDA of 32% at Rs. 10631 Mn and PAT of 9% at Rs. 3000 Mn respectively.”
*PEPL will host a conference call to discuss the results at 3 p.m. IST on 13th February 2019. Dial in for the earnings conference call can be accessed at our company’s website, investor section, along with the earnings press release, financial tables, and slide presentation.
About Prestige Group
Prestige Group has over 30 years of legacy of excellence and is one of the leading real estate developers in the country with diversified business segment such as Residential, Office, Retail, Hospitality, and property management services. Its operation is spread across key markets such as Bengaluru, Chennai, Hyderabad, Mangaluru, Mysuru, Mumbai, NCR, Pune, Goa, and Ahmedabad. Since its inception, The Group has completed 231 real estate projects with developable area of 112 mn sft and has deep development pipeline to the tune of 135 mn sqft. The Group has been rated CRISIL DA1 by CRISIL and also enjoys credit rating of ICRA A+/Stable. The consolidated turnover of the company for FY18 was Rs. 5,567 Crs and Operating Profits was Rs. 1,162 Crore.