18 Jan , 2022 By : monika singh
NEW DELHI – Shares of Prestige Estates NSE 5.39 % surged 8.3 per cent in early trade on Tuesday as the realty firm reported over two-fold jump in sales bookings at record Rs 4,267.6 crore for the quarter ended December. The company's sales bookings stood at Rs 2,026 crore in the year-ago period.
The counter rose to a high of Rs 554.90 as against Rs 512.45 at previous close on the National Stock Exchange.
The Bengaluru-based Prestige Group clocked its highest-ever collections of Rs 2,431.6 crore during the December quarter, up 70 per cent year-on-year, PTI reported.
During April-December 2021, the company's sales bookings rose 97 per cent to record Rs 7,113.4 crore as against Rs 3,610.3 crore in the corresponding period of the previous year.
The collections rose 51 per cent at Rs 5,005.4 crore during the first nine months of this fiscal as against Rs 3,307.6 crore in the corresponding period of the previous year.
According to the PTI report, Prestige group Chairman Irfan Razack said that the new sales were backed by the great response to our newly launched project and the existing inventories across geographies.
The company looks forward to continuing to expand its footprint in high growth opportunity markets, Razack was quoted as saying.
"We strongly believe there is a tremendous opportunity to expand our core markets as we continue to deliver our quality products on time,” Venkat K Narayana, Chief Executive Officer, Prestige Group, was quoted as saying in the PTI report.
The company is looking forward to further growth in its sales bookings in 2022, with a launch pipeline of over 15 million square feet, Narayana was quoted as saying. Prestige Group has operations in 12 locations in India.
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