Daily Archives: November 8, 2013

Business

Prestige Estates Registers 93% Increase in the Revenue and Highest Ever New Sales (by the Company) in QII FY 13-14

Leave a comment

• Revenues at Rs. 5,041 million up by 93%. • PAT at Rs. 776 million, up by 70%. • Registered Highest New sales of Rs. 11,497 Million in Q2.

Bangalore, India, November 08, 2013 —

FOR THE QUARTER (Q2) ENDED SEPTEMBER 30, 2013:

Financial Highlights (Q2):-
• Revenue at Rs. 5,041 million, up by 93% as compared to the corresponding previous year’s quarter (QII FY 12-13) revenue of Rs. 2,609 million.
• EBIDTA at Rs. 1,476 million, up by 60% as compared to the corresponding previous year’s quarter (QII FY 12-13) EBIDTA of Rs. 920 million.
• PAT at Rs. 776 million, up by 70% as compared to the corresponding previous year’s quarter’s (QII – FY 12-13) PAT of Rs. 457 million.
• Rental income at Rs. 592 million up by 16% as compared to the corresponding previous year’s quarter’s (QII – FY 12-13) rental income of Rs. 509 million.

Operational Highlights (Q2):-
• The Company has sold 1,193 Residential Units and 0.11 million square feet of Commercial Space, aggregating to 1.95 million square feet amounting to Rs. 11,497 million of sales.
• The average realization of Rs. 5,876 per sqft is up by 15% as compared to the average realization achieved for the corresponding previous year’s quarter (QII – FY 12-13) of Rs. 5,090 per sqft.
• Registered total new leasing of 0.79 million square feet up by 46% as compared to the total new leasing for the corresponding previous year’s quarter (QII – FY 12-13) of 0.54 million sqft.
• Net Collections for the quarter aggregated to Rs. 6,198 million, up by 23% as compared to the corresponding previous year’s quarter’s (Q2 – FY 12-13) collection of Rs. 5,050 million.

FOR THE HALF-YEAR ENDED (H1) ENDED SEPTEMBER 30, 2013:

Financial Highlights (H1):
• Revenue at Rs. 10,334 million, up by 104% as compared to the corresponding previous half year’s (H1 FY 12-13) revenue of Rs. 5,073 million.
• EBIDTA at Rs. 3,075 million, up by 62% as compared to the corresponding previous half year’s (H1 FY 12-13) EBIDTA of Rs. 1,897 million.
• PAT at Rs. 1,642 million, up by 73% as compared to the corresponding previous half year’s (H1 FY 12-13) PAT of Rs. 950 million.
• Rental income at Rs. 1,164 million up by 17% as compared to the corresponding previous half year’s (H1 FY 12-13) rental income of Rs. 998 million.

Operational Highlights (H1):-
• The Company has for the six months ended September 2013 sold 2,455 Units and Commercial Space, totalling to 3.93 million square feet, amounting to Rs. 22,939 million of Sales. (Achieved 53.35% of the Total Guidance of Rs. 43,000 million of sales set at the beginning of FY 13-14).
• The sales for the Q1 and Q2 (H1) of the FY 2013-14 are as under:

Particulars

Q1

Q2

H1 (Half year)

Sales (Rs. Mn)

11,442

11,497

22,939

Area (Mnsf)

1.98

1.95

3.93

• Registered total New Leasing of 1.23 million square feet up by 23% as compared to the corresponding previous half year’s (H1 FY 12-13) total new leasing of 1.00 million square feet of Rs. 998 million.
• Prestige Share of collections for the half-year ended 30th September, 2013 are Rs. 12,272 million, up by 32% as compared to the corresponding previous half year’s (H1 FY 12-13) prestige share of collections of 1.00 million square feet. (Achieved 53.36% of the Total Guidance of Rs. 23,000 million set at the beginning of FY 13-14).
• The Company has launched total 10.08 million square feet of developable area for the six months ended September 2013, considering the 4.09 million square feet of launches in the Q1. (Achieved 72% of 14 million square feet of the guidance set at the beginning of the fiscal).

Commenting on this strong performance and growth, Mr. Irfan Razack, Chairman and Managing Director, Prestige Estates Projects Limited, said “We have registered the highest pre-sales ever, during this quarter amounting Rs. 11,497 Mn. despite all the negative factors affecting the Economy, which indicates the strength of brand ‘Prestige‘ and the trust that we enjoy from the customers. We have launched during the first half of the fiscal, over 10 million sqft. of new projects across Bangalore and Chennai and the same have met with good response, which shows that things on ground are pretty robust and positive for us. On the turnover front, there is sizeable un-booked revenue of more than Rs. 60,000 Million. With the execution of projects moving in line with the schedule, these revenues consistently flow to the top line and help us in sustaining the Revenue numbers we have delivered in this quarter, going forward and to grow further.”

About the Company:
Prestige Estates, having a legacy spanning over two and a half decades, is one of South India’s leading Real Estate Developers. It has 168 completed projects aggregating over 51 million square feet of developable Area to its credit and currently has 65 ongoing projects aggregating to 54.45 million square feet of developable area and 28 upcoming projects aggregating to 33.94 million square feet of developable area spanning across Residential, Commercial, Retail and Hospitality sectors in major South Indian cities such as Bangalore, Mysore, Mangalore, Chennai, Kochi, Hyderabad, Ooty, Goa, etc. It is also currently the only CRISIL DA1 rated Developer in India. This rating indicates the Company’s excellent ability to execute real estate projects as per specified quality levels within stipulated time schedules and to transfer clean titles.

Disclaimer:
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks and many other factors that could cause our actual results to differ materially from those contemplated. Prestige Estates Projects Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

For further information, please contact: Venkat K. Narayana, contact@marchingantsllp.com, 91-80-25501280, http://www.prestigeconstructions.com

Particulars

Q1

Q2

H1 (Half year)

Sales (Rs. Mn)

11,442

11,497

22,939

Area (Mnsf)

1.98

1.95

3.93

Normal
0

false
false
false

EN-IN
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:”Calibri”,”sans-serif”;}

Education

INTO University Partnerships Announces Continued International Student Growth and Academic Success at US Partner Institutions

Leave a comment

Oregon State University, University of South Florida and Colorado State University report double-digit international student enrollment growth and strong academic outcomes among international cohorts

San Diego, CA, November 07, 2013 – INTO University Partnerships today announced successes in key areas at its US partner institutions, including international student enrollment growth, strong academic outcomes and high student satisfaction. INTO’s first two US partners, Oregon State University and University of South Florida, have experienced the greatest gains and are outpacing national averages in international student enrollment growth, demonstrating the long-term effectiveness of INTO’s joint venture model.

INTO partners with leading universities in the United States, United Kingdom and Asia to expand opportunities for higher education, ensuring student success and achieving a globally diverse and integrated campus community. To date, INTO has helped more than 5,000 international students from over 100 countries begin their academic studies at institutions in the US.

For the Fall 2013 intake, all four of INTO’s US centers exceeded their ambitious enrollment goals. The company’s three most mature partnerships – Oregon State University, University of South Florida and Colorado State University – experienced double-digit growth (19 percent) from the previous year. Achieving nationality diversity also remains a goal at all of INTO’s joint ventures, with more than 60 countries represented at the four US centers.

INTO’s most recent partnership launched in Fall 2013 at Marshall University. In August, INTO Marshall welcomed its first group of 170 international students from 23 countries, an impressive start for the new program. Last month, INTO and George Mason University announced plans to establish a partnership to expand the university’s global reach and international student enrollment. Once approved, the planned partnership would be INTO’s fifth joint venture in the US.

“The rapid success at our US centers has been incredible. The ambitious universities with whom we’re partnered are committed to comprehensive internationalization as part of their long-term strategy for institutional growth and evolution. What’s more, they understand that ‘internationalization’ is greater than simply recruiting larger numbers of international students. It’s about increasing access to high quality education and improving the experience for international and domestic students alike,” said David Stremba, Managing Director of INTO University Partnerships, North America.

Success at INTO’s US centers is measured not only by the size and diversity of each year’s incoming academic cohort but also by students’ academic outcomes and satisfaction with their experience. Academic success is central to the mission of each joint venture, a partnership through which each university maintains full control over academic programs. Nearly three-quarters (73 percent) of students successfully completed Pathway programs at INTO OSU, INTO USF and INTO CSU and qualified to progress to university degree programs; 95 percent of those students eligible to progress ultimately chose to enroll at the host university. The vast majority of students studying at INTO centers in the US in 2012-13 responded to an end of program survey indicating they were highly satisfied or satisfied with their experience.

“The partnership model is transformational and especially powerful in higher education. We are able to mobilize vast amounts of resources in our network as well as that of our university partners to advance institutional goals,” said Andrew Colin, Chairman of INTO University Partnerships. “There is a swell in demand from international students for high-quality opportunities to study outside their home countries. Leading universities need to be able to deliver differentiated and best-of-class service for these students. Carefully designed strategic partnerships have proven a successful way for this to be accomplished.”

INTO is committed to improving global access to quality higher education and further increasing international student mobility. As a global education partnering organization that establishes large-scale, long-term, transformational partnerships, INTO assists universities in achieving their comprehensive internationalization goals. For more information about INTO University Partnerships and its partner institutions, please visit www.into-corporate.com.

About INTO University Partnerships
Universities partner with INTO to advance their ambitious comprehensive internationalization agendas. INTO’s deeply embedded joint ventures create a globally diverse and integrated campus, improve the overall student experience, and increase international students’ access to higher education. Through INTO’s resources and expertise institutions expand their ability to create highly supportive academic environments, establish state-of-the-art learning and living spaces and deliver university-designed programs. Since 2006, INTO has established partnerships with 17 universities in the UK, the US and China. These partnerships have helped more than 5,000 international students from over 100 countries begin their academic studies at partner institutions in North America, including Oregon State University, the University of South Florida, Colorado State University and Marshall University. More information can be found at www.into-corporate.com or follow INTO @INTOnetwork.

Contact:
Anne Jenkins
INTO University Partnerships
1 Gloucester Place
Brighton, BN1 4AA
703-624-6125
ajenkins@csg-pr.com
http://www.into-corporate.com