Home Real Estate Prestige Estates Q1 profit jumps to Rs 92.5 cr; co to raise...

Prestige Estates Q1 profit jumps to Rs 92.5 cr; co to raise up to Rs 1,000 cr

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NEW DELHI:

Realty firm Prestige Estates Projects Ltd on Tuesday reported an over four-fold jump in its consolidated net profit at Rs 92.5 crore for the quarter ended June and said its board has approved raising of up to Rs 1,000 crore through issuance of non-convertible debentures. Its net profit stood at Rs 20 crore in the year-ago period.

Total income rose to Rs 1,473.4 crore in the first quarter of this fiscal from Rs 1,296.3 crore in the corresponding period of the previous year, according to a regulatory filing by the Bengaluru-based firm.

The board recommended payment of final dividend of Rs 1.5 per share for the year ended March 31, 2021.

It also approved ‘issuance of non-convertible debentures for an aggregate amount up to Rs 1,000 crore on private placement basis.’ PTI

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