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Prestige Estates Q3 revenues up 96pc

Posted on Feb 12, 07:02PM | IBNS

Bangalore, Feb 12 : Prestige Estates, one of South India's leading real estate developers, on Tuesday announced its financial results for Q3 FY 12-13, where it registered a 96pc growth in revenues. Financial Highlights · Revenues at Rs. 5,116 million, up by 96pc as compared to Rs. 2,609 million of the previous quarter (Q2 - FY12-13) and up by 185pc as compared to the corresponding previous year's quarter (Q3 - FY 11-12) revenues of Rs. 1,798 million.

· EBIDTA at Rs. 1,619 million, up by 76pc as compared to Rs. 920 million of the previous quarter (Q2 - FY12-13) and up by 157pc as compared to the corresponding previous year's quarter's (Q3 - FY 11-12) EBIDTA of Rs. 630 million.

· PAT at Rs. 920 million, up by 101pc as compared to Rs. 457 million of the previous quarter (Q2 - FY12-13) and up by 227pc as compared to the corresponding previous year's quarter's (Q3 - FY 11-12) PAT of Rs. 281 million.

· EPS at Rs. 2.81, up by 101pc as compared to Rs.1.39 of the previous quarter (Q2 - FY12-13) and up by 228pc as compared to the corresponding previous year's quarter's (Q3 - FY 11-12) EPS of Rs. 0.86.

· Rental income at Rs. 562 million, up by 10pc as compared to Rs. 509 million of the previous quarter (Q2 - FY12-13) and up by 41pc as compared to the corresponding previous year's quarter's (Q3 - FY 11-12) rental income of Rs. 399 million.

· Debt-equity ratio stood at 0.43 as compared to 0.47 of the previous quarter (Q2 - FY12-13), thereby registering a positive reduction of 9pc .


Operational Highlights

Prestige clocks Rs. 30,000 million of pre-sales in just 9 months of FY 12-13 - setting a new benchmark and a record

· The Company has sold 3,061 units for the 9 months ended December 31, 2012 totalling to 6.05 million square feet thereby translating to Rs. 30,767 million of Sales.

· For the quarter ended December 31, 2012, the Company has sold 1.44 million square feet of Residential and Commercial space aggregating to Rs. 7,540 million.
· Completed and delivered 1.78 million square feet of Commercial Office space.

· The total new leasing for the quarter stood at 0.85 million square feet, up by 57pc as compared to the previous quarter's leasing of 0.54 million square feet and up by 9pc as compared to the corresponding previous year's quarter's leasing of 0.78 million square feet.

· Collections for the quarter aggregated to Rs. 5,076 million, up by 55pc as compared to the corresponding previous year's quarter's collection of Rs. 3,280 million. The total collections for the nine months ended December 31, 2012 aggregated to 14,367 million.

Irfan Razack, Chairman and Managing Director, Prestige Estates Projects Limited, said: "As you can notice, apart from registering record pre-sales of over Rs. 30,000 million in just 9 months, we have already crossed most of our annual guidance for FY 12-13 in just 9 months itself."