Prestige Estates Projects announce a significant milestone in its growth trajectory through a strategic deal with the Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The Rs 2,001 crore (~$240 million) deal is dedicated towards the development of residential projects in prominent locations across 4 cities in India. The collaboration with ADIA and Kotak AIF represents a considered move towards adopting strong and organic growth for Prestige Group. The deal, with its substantial size, upholds company`s vision to sustain its leadership position in the industry. It is aimed at catalysing the development of early-stage residential projects, ensuring company`s commitment to prudent expansion and diversified growth. Powered by Capital Market - Live News

Prestige Estates Projects announced its latest acquisition of 62.5 acres of prime land in Indirapuram Extension, NCR. This strategic acquisition marks a significant milestone for Prestige Group as it expands its footprint in the dynamic real estate market of NCR. The acquired land will be developed primarily as residential, complemented by education and retail aligning with Prestige Group`s vision to create integrated urban communities that redefine modern living. This project will be branded under the successful `The Prestige City` format, offering residents an unparalleled lifestyle experience in a large township with a seamless blend of residential, retail, school and recreational spaces. The cost of acquisition amounts to Rs 468 crore, along with a revenue share. The investment underscores Prestige Group`s confidence in the potential of the NCR market and its long-term commitment to creating enduring value for stakeholders.Powered by Capital Market - Live News

Net profit of Prestige Estates Projects declined 9.00% to Rs 116.30 crore in the quarter ended December 2023 as against Rs 127.80 crore during the previous quarter ended December 2022. Sales declined 22.49% to Rs 1795.80 crore in the quarter ended December 2023 as against Rs 2317.00 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales1795.802317.00 -22 OPM %29.8024.70 - PBDT416.70401.90 4 PBT237.00232.10 2 NP116.30127.80 -9 Powered by Capital Market - Live News

Prestige Estates Projects will hold a meeting of the Board of Directors of the Company on 13 February 2024.Powered by Capital Market - Live News

Net profit of Prestige Estates Projects rose 504.76% to Rs 850.90 crore in the quarter ended September 2023 as against Rs 140.70 crore during the previous quarter ended September 2022. Sales rose 56.64% to Rs 2236.40 crore in the quarter ended September 2023 as against Rs 1427.70 crore during the previous quarter ended September 2022. ParticularsQuarter Ended�Sep. 2023Sep. 2022% Var. Sales2236.401427.70 57 OPM %26.1625.68 - PBDT1340.80227.40 490 PBT1166.7064.80 1700 NP850.90140.70 505 Powered by Capital Market - Live News