Four-fold jump in sales bookings for Prestige Group

20 Jul 2022 CW Team

Prestige Estates reported over a four-fold jump in its sales bookings at Rs 3,012 crore during the first quarter of this fiscal year on better demand and a lower base effect. The sales bookings stood at Rs 733.9 crore in the year-ago period, which was badly hit by the second wave of Covid-19.

In a regulatory filing, Bengaluru-based Prestige Group said it has registered sales of Rs 3,012.1 crore, of which the Mumbai region has contributed Rs 737.8 crore.

“The sales have come from 3.63 million square feet volume with an average realisation of Rs 8,298 per square feet. Collections made during the quarter were to the tune of Rs 2,146.4 crore," it said.

In the June quarter, the company launched four projects comprising 9.67 million square feet. Three projects totalling 0.78 million square feet were completed during the last quarter.

On the performance, Irfan Razack, Chairman and Managing Director, Prestige Group said: “We are happy to see the contribution of our newly launched projects in Mumbai to our overall numbers and are optimistic about the increasing value they will be adding in the upcoming quarters.”

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