Prestige Estates shares zoom over 8 pc after Q3 sales bookings jump over two-fold

Shares of Prestige Estates on Tuesday jumped over 8 per cent after the company reported over two-fold jump in sales bookings for the quarter ended December. At the BSE, the stock zoomed 7.96 per cent to its 52-week high of Rs 553.40. It jumped 8.28 per cent to its 52-week high of Rs 554.90 on the NSE.

Realty firm Prestige Estates on Monday reported over two-fold jump in sales bookings at record Rs 4,267.6 crore for the quarter ended December. The company’s sales bookings stood at Rs 2,026 crore in the year-ago period.

The Bengaluru-based Prestige group has also clocked the highest-ever collections of Rs 2,431.6 crore during the December quarter, up 70 per cent year-on-year.

During April-December 2021, the company’s sales bookings rose 97 per cent to record Rs 7,113.4 crore, as against Rs 3,610.3 crore in the corresponding period of the previous year.

The collections rose 51 per cent at Rs 5,005.4 crore during the first nine months of this fiscal, as against Rs 3,307.6 crore in the corresponding period of the previous year.

Prestige group Chairman Irfan Razack said, “the new sales were backed by the great response to our newly launched project and the existing inventories across geographies.” The company looks forward to continuing to expand its footprint in high growth opportunity markets, he added.