Business EconomyPosted at: Jan 17 2022 11:43PM

Mumbai, Jan 17 (UNI) Realty player Prestige Group on Monday said its sales have more than doubled in the quarter ended December 31, 2021 to Rs 4267.6 crore, while the collections increased by around 70 per cent at Rs 2431.6 crore, as compared to the corresponding period last fiscal.
The company had recorded sales of Rs 2026 crore and collection of Rs 1430.3 crore in the October-December quarter last fiscal.
“Prestige has clocked highest quarterly sales of Rs 42,67.6 crore up 111 per cent year-on-year and collections of Rs 24,31.6 crore up 70 per cent. The new sales were backed by the great response to our newly launched project - Prestige Avalon, Aspen and Eden Park, part of The Prestige City, Bengaluru, Prestige Beverly Hills, Hyderabad and the existing inventories across geographies,” Prestige Group Chairman Irfan Razack said.
Stating that it is a very exciting time for the brand, with new launches and markets to support the ambitious growth plans the company has set for itself, Razack said that the company will continue to expand its footprint in high growth opportunity markets.
Commenting on the performance, company’s Chief Executive Officer Venkat Narayana, said, “We strongly believe there is a tremendous opportunity to expand our core markets as we continue to deliver our quality products on time. As we kick off 2022, our business plan will be anchored by a principal focus on revenue expansion as we continue to capitalize on our brand premium, execution track record and market consolidation theme. We are looking forward to further growth in our sales in 2022, backed by the robust launch pipeline of over 15 million sqft.”
The Prestige Group has completed 255 projects with a developable area of 144 million sqft and has 47 ongoing projects across segments, with a total developable area of 58 million sqft. It also has 79 million sqft under planning and holds a land bank with potential developable area of over 27 million sqft.
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