Prestige Estates Q1 FY24 Net Profit Surges 26.56%

11 Aug 2023 CW Team

Prestige Estates Projects, a prominent real estate company, has reported a significant growth of 26.56% in its net consolidated profit for the quarter ending June 30, 2023. The profit after tax reached Rs 3.17 billion in Q1 FY24, compared to Rs 2.51 billion in the corresponding quarter of the previous fiscal year. Despite this growth in profit, the company's net consolidated total income experienced a slight dip of 2.26%, standing at Rs 19.66 billion in Q1 FY24, down from Rs 20.11 billion in the same quarter last year. During this period, the group acquired 51% shares in Dashanya Tech Parkz and invested in Prestige Vaishnaoi Realty Ventures. Additionally, the group acquired 42.07% shares in TeEhzone Technologies and entered into agreements to acquire full interest in Prestige (BKC) Realtors and Turf Estate joint Venture LLP. The board also appointed S.N. Nagendra as an additional non-executive independent director for a term of five years, effective from August 8, 2023.

Infrastructure Transport

07 Apr 2026

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..

Gujarat Pushes Biogas Growth With 193 Operational Units

Gujarat has operationalised 193 biogas plants across the state and is planning to add 60 more units as part of a broader push to scale up clean and sustainable energy solutions. The existing plants, established under various government-supported schemes, process organic waste including cattle dung and agricultural residue to produce biogas and a nutrient-rich slurry. The output is mainly used for cooking and other energy needs in rural and semi-urban communities, while also improving local waste management practices. The Gujarat Energy Development Agency (GEDA) is leading the initiative and is..