Prestige Estates Projects Q2 Review - Robust Project Pipeline Will Aid Sales Volume: Nirmal Bang
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Prestige Estate Projects Ltd. reported an increase of 4.7% QoQ in Q2 FY22 Ebitda margin to 29.1% mainly due to-
pre-sales volume increasing from 1.10 million square feet in Q1 FY22 to 3.56 million square feet in Q2 FY22; in absolute terms, pre-sales grew by 187% QoQ to Rs 21.1 billion, of which Prestige Estate Projects’ share was Rs 17.6 billion in Q2 FY22,
leasing and rental run-rate was up by 30% QoQ, which stood at 0.58 million square feet and Rs 779 million, respectively in Q2 FY22,
collections were healthy and showed an increase of 52% QoQ to Rs 15.5 billion in Q2 FY22.
Prestige Estate Projects' net profit for Q2 FY22 stood at Rs 937 million versus Rs 925 million in Q1 FY22, an increase of 1.3% QoQ, led by-
decline in raw material cost by 24.7% QoQ to Rs 6,352 million in Q2 FY22,
decline in tax expenses by 4% QoQ to Rs 485 million in Q2 FY22.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.