Prestige Estates Projects shares jump nearly 9% after Q4 earnings

PTIUpdated: Wednesday, June 09, 2021, 11:41 AM IST
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Realty firm Prestige Estates Projects Ltd on Tuesday reported a sharp increase in its consolidated net profit to Rs 1,336.3 crore for the quarter ending March, |

Shares of Prestige Estates Projects Ltd jumped nearly 9 percent in morning trade on Wednesday after the company reported a sharp increase in its consolidated net profit for the March quarter.

The stock rallied 8.82 percent to Rs 317 on the BSE.

At the NSE, shares of the company zoomed 8.72 percent to Rs 317.

At 11.36, the share was up 3.57 percent at Rs 301.70.

Realty firm Prestige Estates Projects Ltd on Tuesday reported a sharp increase in its consolidated net profit to Rs 1,336.3 crore for the quarter ending March, driven by monetisation of a large portfolio of commercial assets.

Its net profit stood at Rs 15.4 crore in the year-ago period.

Total income rose to Rs 2,360.6 crore in the fourth quarter of last fiscal from Rs 2,016.9 crore in the corresponding period of the previous year, the Bengaluru-based firm said in a regulatory filing.

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