Prestige Estates Projects Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 13, 2024 at 08:42 am EST
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Prestige Estates Projects Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 17,958 million compared to INR 23,170 million a year ago. Revenue was INR 19,705 million compared to INR 23,475 million a year ago. Net income was INR 1,163 million compared to INR 1,278 million a year ago. Basic earnings per share from continuing operations was INR 2.9 compared to INR 3.19 a year ago. Diluted earnings per share from continuing operations was INR 2.9 compared to INR 3.19 a year ago.
For the nine months, sales was INR 57,131 million compared to INR 56,832 million a year ago. Revenue was INR 71,928 million compared to INR 58,340 million a year ago. Net income was INR 12,341 million compared to INR 4,734 million a year ago. Basic earnings per share from continuing operations was INR 30.78 compared to INR 11.81 a year ago. Diluted earnings per share from continuing operations was INR 30.78 compared to INR 11.81 a year ago.
Prestige Estates Projects Limited is an India-based real estate developer. The Company is engaged in developing real estate projects across the residential, office, retail and hospitality segments. The Company has delivered approximately 250+ real estate projects spanning 151 mn square feet. It delivers projects in 12 locations across the country. Its residential product line comprises townships, apartments, mansions, luxury villas, row houses, plotted development, golf projects and affordable housing. It develops modern and smart offices across various Indian metro cities. It builds and operates hotels by collaborating with various hospitality brands, such as JW Marriott, Sheraton Grand and Conrad by Hilton. The Company has 11 projects, including Prestige Kingfisher Towers, prestige-leela-residences, prestige-golfshire, Prestige Tech Park, Prestige Shantiniketan, Prestige Liberty Towers, Sheraton Grand, Conrad Bengaluru, JW Marriot, UB City and Forum South Bangalore.