Prestige Estates Projects Q3 Review - Net Debt To Equity Falls But Still Remains High: Nirmal Bang
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Nirmal Bang Report
Prestige Estates Projects Ltd.’s net profit for Q3 FY21 declined by 63.7% YoY to Rs 587 million while Ebitda declined by 37.7% YoY.
Ebitda margin at 24.2% decreased by 259 basis points YoY. Revenue declined by 31.1% YoY to Rs 18,476 million.
Decline in net profit was mainly due to the drop in Ebitda, which was due to higher costs towards the purchase of completed units’ land cost and the purchase of materials.
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