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Prestige Estates Q3 FY15 Turnover at Rs. 6,453 Mn (up by 40%) & PAT at Rs. 995 Mn (up by 23%)

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Registers New Sales of Rs. 10,094 Mn for Q3 FY15 and ties up for 14 New Property Developments.

Bangalore, India, January 28th, 2015 — Registers New Sales of Rs. 10,094 Mn for Q3 FY15 and ties up for 14 New Property Developments.

Q3 FY15:
* Revenue at Rs. 6,453 Million, considering revenue from operations and other income, up by 40% as compared to the revenue for the corresponding quarter of previous year (Q3 FY14) which stood at Rs. 4,600 Million.

* PAT at Rs. 995 Million, up by 23% as compared to the PAT for the corresponding quarter of previous year (Q3 FY14) which stood at Rs. 807 Million

*The Company has sold 611 Residential units and 0.21 million square feet of Commercial Space, aggregating to 1.55 million square feet amounting to Rs. 10,094 million of sales. (Of this, Prestige share is: 532 units – 1.13 million square feet amounting to Rs. 7,594 Million of Sales.)

* Total collections for the quarter aggregated to Rs. 9,209 million. (Prestige share of collections for the quarter aggregated to Rs. 7,561 million.)

For the Quarter ended 31 December 2014 (Q3):
Financial Highlights (Q3 FY15):

* Revenue at Rs. 6,453 Mn, considering revenue from operations and other income, up by 40% as compared to the revenue for the corresponding quarter of previous year (Q3 FY14) which stood at Rs.4,600 Mn.

* EBIDTA at Rs. 2,241 Mn, up by 39% as compared to the EBIDTA for the corresponding quarter of previous year (Q3 FY14) which stood at Rs.1,614 Mn

* PAT at Rs.995 Mn, up by 23% as compared to the PAT for the corresponding quarter of previous year (Q3 FY14) which stood at Rs.807 Mn

Operational Highlights (Q3 FY15):

New Sales:
* The Company has sold 611 Residential units and 0.21 million square feet of commercial space, aggregating to 1.55 million square feet amounting to Rs. 10,094 million of sales. (Of this, Prestige share is: 532 units -1.13 million square feet amounting to Rs. 7,594 Million of sales.)

* During the corresponding Q3 of previous year FY 13-14, the company had sold 1,204 Residential units and 0.03 million square feet of commercial space, aggregating to 2.08 million square feet amounting to Rs.12,620 million of sales. (Prestige share of sales for Q3 FY13-14 were 904 units -1.55 million square feet amounting to Rs.9,402 Million of sales.)

Collections:
* Total collections for the quarter aggregated to Rs. 9,209 million. (Prestige share of collections for the quarter aggregated to Rs. 7,561 million.)

* Total collections for Q3 FY 13-14 were Rs. 7,133 million and Prestige share of collections were Rs. 5,923 million.

Completions:
* This quarter, the Company has completed one residential project in Bangalore aggregating to 0.66 Mnsft.

For the Nine months ended 31 December 2014 (9M FY15):
Financial Highlights (9M FY15):

* Revenue at Rs. 18,304 Mn, considering revenue from operations and other income, up by 23% as compared to the revenue for the corresponding 9 months of previous year (9M FY14) which stood at Rs.14,933 Mn.

* EBIDTA at Rs. 6,097 Mn, up by 30% as compared to the EBIDTA for the corresponding 9 months of previous year (9M FY14) which stood at Rs.4,689 Mn

* PAT at Rs.3,004 Mn, up by 23% as compared to the PAT for the corresponding 9 months of previous year (9M FY14) which stood at Rs.2,448 Mn

Operational Highlights (9M FY15):
Sales:
* The Company has for the nine months ended December 2014 sold 3,263 Residential units & 0.46 million square feet of Commercial space, totalling to 6.27 million square feet, amounting to Rs.39,026 million of Sales, up by 10% as compared to the sales for the corresponding 9 months of previous year (9M FY15)

* Of the above, Prestige Estates share is 2,986 units totalling to 5.36 million square feet amounting to Rs. 33,560 million of Sales, up by 11% as compared to Prestige Estates share of sales for the corresponding 9 months of previous year (9M FY15)

* For the corresponding 9 months ending December 2013, the Company has sold 3,659 units and 0.15 Mnsft of commercial space, totalling to 6.01 Mnsft, amounting to Rs.35,560 million of Sales. Of this, Prestige Estates share of sales is 3,141 units and 0.15 Mnsft of commercial space, totaling to 5.15 Mnsft amounting to Rs.30,316 million of Sales

Collections:
* Total collections for the nine months ended 31st December 2014 aggregated to Rs. 27,688 million up by 28% as compared to the total collections for the corresponding 9 months of previous year (9M FY15). (Of this, Prestige Estates share is Rs. 23,269 million, up by 28%)

* Total collections for 9M FY 13-14 were Rs. 21,618 million and Prestige share of collections were Rs. 18,195 million.

Launches:
* The Company has launched total 7.38 million square feet of developable area for the nine months ended December 2014.

Commenting on this strong performance and growth, Mr. Irfan Razack, Chairman and Managing Director, Prestige Estates Projects Limited, said “Things on ground are pretty robust and positive. In fact, this quarter has been fantastic for us in terms of sales. We have clocked over Rs.10,000 Mn of total new sales in spite of having no new launches during the quarter and without having the need to advertise much. During the quarter we have also tied up for 14 new property developments across the geographies and these projects, once launched will further enhance our sales momentum and help us in taking our company to next level.”

Mr. Venkat K Narayana, Executive Director & CFO added to this saying that “The growth is supported by collections in excess of Rs. 9,200 million during the quarter, excluding the rental income. On the turnover front, there is sizeable un-booked revenue around Rs. 83,776 million and with the execution of projects moving in line with the schedule, these revenues consistently flow to the top line to sustain these numbers going forward and grow further.”

About the Company:
Prestige Estates, having a legacy spanning over 28 years, is one of South India’s leading Real Estate Developers. It has 184 completed projects aggregating over 60.74 Mnsft of developable Area to its credit and currently has 57 ongoing projects aggregating to 59.24 million square feet of developable area and 43 upcoming projects aggregating to 44.11 million square feet of developable area spanning across Residential, Commercial, Retail and Hospitality sectors in major South Indian cities such as Bengaluru, Mysoru, Mangaluru, Chennai, Kochi, Hyderabad, Ooty, Goa, etc. It is also currently one of the few CRISIL DA1 rated Developers 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 title.

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:
Mr. Venkat K. Narayana
Executive Director & CFO
Prestige Estates Projects Limited
The Falcon House
No.1, Main Guard Cross Road
Bangalore – 560 001
Phone: +91-80-25001280
Fax: +91-80-25591945
E-mail: venkatkn@prestigeconstructions.com
URL: http://www.prestigeconstructions.com

Financial

With Help From Mortgage Funds The Real Estate Market Shows Signs of a Recovery

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Investor confidence in the financial system has also been so badly shaken that many remain very cautious, with high levels of cash kept on the books by most fund managers as they ensure they are not caught out by a sharp downturn in sentiment.

Santa Rosa, CA, October 08, 2010 — Even big money hedge fund and Mortgage fund investors hate to lose money and many are seeking a more conservative way to make high returns on their capital in a sour economy.

Mortgage fund managers are increasingly embracing private commercial mortgage lending as a way to enhance yield and decrease the overall risk of a portfolio. The credit crisis has greatly reduced the availability of commercial mortgage capital and, at-the-same-time, made it harder for borrowers and buildings to qualify for financing. The result is a glut of good deals that should be funded but can’t be funded.

Some hedge funds and Mortgage funds are stepping in and helping fill this “funding gap”. This unprecedented move by private investment funds into commercial real estate finance was prompted by the demands of unhappy investors. When wealthy business people put several hundred thousand in a fund and pay a hefty management fee, they have the right to expect results. After being promised double digit yields, many investors lost large amounts of money and actually had trouble accessing the money they had invested.

Faced with disgruntled and disenchanted clients, Mortgage fund managers were desperate for a high return investment that offered at least some measure of real security. For many, private commercial mortgage loans have proved to be the answer. Unlike residential lending, commercial mortgage banking is largely unregulated and posed no barrier to entry for private investment funds. The credit crunch was (and is) keeping real estate investors, large and small, from obtaining the capital they needed to refinance their buildings or buy any new ones. Thousands of excellent deals with very reasonable risk parameters were (and are) going unfunded and the lack of institutional credit drove private lending rates high enough to pique the interest of even the most sophisticated and return hungry fund managers.With rates ranging between 10% and 15% interest only payments it leaves building owners a quality source to take their loans for funding.However some of these Private Money and Hard Money companies are recommended more then others.There are some in the Hard Money industry that charge a $25,000 to $ 50,000 retainer fee for their services whether or not they perform.So it is always wise to check the track record of the company you are using.One company that we can recommend for loans in the state of California is http://www.Ourfundsonline.com they have a sucessful track record of closing loans in both northern and southern California see below for the loan types and properties they are financing.

Purchases&Refinances with Cash-Out
* Equity Partners
* CD’s
* Hard Money Construction Loans
* International Commercial Project Loans
* Hedge Funds
* Insurance Money
* Joint Ventures
* Lines of Credit
* Overseas Commercial Loans
* Pension Funds
* Private Hard Money Lenders
* Private Lenders
* Private Equity
* Private Money
* Real Estate Lending
* Trust Funds
* Wholesale Hard Money
* Wholesale Commercial Mortgages
* And More programs out daily …

Land: with Entitlements
Construction and Rehab loans
No Pre-Payment Penalty Programs Available for a fee
www..Ourfundsonline.com
California Bridge Financing
Short Term “Bridge or Gap” Financing
Acquisitions with Low Fee and Rate Hard Money
Cash Out Refinances
Tenant Improvements or Rehab
www..Ourfundsonline.com
California Rehab Flip Hard Money Loans – Loan to cost
Residential and Commercial REO, Distressed Sale, Trustee Sale, Short sales.
Loan Amounts: $100,000 – $1,000,000 – No Prepay
Term: 6-months, up to two 3-month extensions
LTC: 70 (up to 75% exception)
ARV: 60-70%
Fico: 625+ (mid score)
Personal Gaurantee: All partners must sign a personal guarantee
Required Reserves: 50% of rehab costs * 6-months payments
Rehab Expenses: Must be fund controlled or suitable alternative
Rehab Draw: 2-3 draws permitted based upon inspection
Rehab Timeline: All rehab work must be completed within 75 days
www.Ourfundsonline.com
Private Money in California
Fast private money loans California
Specializing in apartment private money loans California
We have hard money loans California
in as well for the very poor credit borrowers
www.Ourfundsonline.com
Loan Structures – California Private Money – California Hard Money
Hard money loans are real estate collateralized loans based on the sale value of the property against which the loan is made. Private money lenders generally only lend in 1st positionLoans on Residential Properties *must* be for investment or commercial purposes non owner occupied or the maximum we will lend is 60% max.

Based in Santa Rosa, California – Our Funds Online is a residential and a commercial real estate lender providing fast, creative funding solutions nationwide.We offer bridge loans, mezzanine debt, construction financing (including land development) and occasionally equity participation. It specializes in non-conforming transactions ranging from $2 million to $100 million and above. Please visit us online for additional information http://www.Ourfundsonline.com operators can be reached 24 hours per day toll free at (877) 870-2676 or local office line (310) 984-0496

Press & Media Contact:
Jeffrey Martino Young
OurFundsOnline.com
1585 Terrace Way
Santa Rosa, CA 95404
Mob: (310) 984-0496 24 hour contact line
Tel: (877) 870-2676 Toll free line
jyoung@essexmortgage.com
http://www.ourfundsonline.com

Financial

Hard Money Lender in the San Francisco Bay Area Helps Five Homeowners From Foreclosure

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Lending criteria for hard money mortgages are fairly simple. The loan is based on the value of the subject property either real estate owned or about to be purchased by a borrower.

Santa Rosa, CA, October 04, 2010 — We need Private money loans in California from $100,000, and up to 10,000,000 we love both commercial and residential ( http://www.ourfundsonline.com ) and we are a fast funding outfit that bases our loans entierely on equity. We are California # 1 equity based lender and have just decided to raise our loan to value from 65% to 70% loan to value of the property. In general, hard money mortgages are used for commercial purposes. However, they can also be applied to residential properties. In this instance, the loan is generally referred to by its more genteel name: a non-conforming mortgage.

Lending criteria for hard money mortgages ( http://www.ourfundsonline.com ) are fairly simple. The loan is based on the value of the subject property either real estate owned or about to be purchased by a borrower. If the borrower is buying property, the “value” of the real estate is defined as the actual purchase price of the property. If the borrower needs hard money for a refinance situation, the value is determined by a written real estate appraisal.

If you are looking for a hard money refinance loan, the lender will want to know when you purchased the property and what you paid for it. If you bought a property a month ago for a specific sum, the lender will be disinclined to lend you more than that purchase price. Once you own the property for about a year, especially if you have put some money, sweat equity, or both into the property, ( http://www.ourfundsonline.com ) you can get a new appraisal and get a loan based on the new, improved value of the property. This is called seasoning. Be sure you have seasoned your property for 3 months before going out for a refinance mortgage at a significantly higher value figure than what you paid for it.

Once it has three months seasononing we fund loans to borrowers with unique challenges, and who do not have the time or are unable to seek financing from traditional banking sources. We utilize our own resources to fund loans – when we commit, you may be confident of the timing and outcome we promise and we deliver on our word.

NO Rules! Ourfundsonline.com ( http://www.ourfundsonline.com ) does not underwrite loans for a secondary market. We make the rules and use our experience to make loans happen. Simply put we are the bank our vast group of investors have been working with us for the past 20 years and trust us to evaluate the equity position we are taking on. We are a equity based lender ,we care not about credit scores, previous foreclosure and/or bankruptcy with us all borrowers are the same depending on down payment or the equity position ( http://www.ourfundsonline.com ) we hold as collateral.

* Residential
* Construction
* $250,000 – $2,500,000
* Lot Loans
* NO FICO requirements
* Small Commercial
* LTV’s to 75%
* Foreclosures
* Stated Income
* Interest only
* Multiple Borrowers
* No Prepay Penalties
* Cross Collateral OK
* Multifamily
* Office
* Retail
* Self Storage
* Special Uses
* Payments Holdbacks
* Medical
* Mixed Use

Borrower EQUITY is the primary criteria. We will look at loans on any type of real estate to any type of borrower just as long as there is equity there is a good chance you have yourself a loan !!!!!!

We fund our loans in as little as 4 days with that being said we try and limit the amount of time we have available to just one state — We fund in California ( http://www.ourfundsonline.com ) only at the present time so that you get 100% of our time and energy so that your loan funds without any complications.

What kind of interest rate can I expect from an equity loan?
Most borrowers can typically expect an interest rate of 9% to 15% for their private money loans.

Will my credit score affect my eligibility?
No. This is one of the most important differences between us and banks or mortgage brokers. Your credit score does not affect your elifibility.

What does Loan-to-Value (LTV) mean?
Loan-to-Value is the relationship between the value and the loans against the property.

What types of property are eligible for a private loan?
Single Family Residence, Commercial, Multi-Family, Land, Mixed Use and other real estate properties are all eligible for a hard money loan.

Do I have to pay closing costs?
Yes, however the closing costs can be paid through the loan proceeds.

How long does it take to close on an equity loan?
Closing on a http://www.ourfundsonline.com hard money loan takes between 3 and 5 days after receiving a completed package.

Does my property need to be appraised by your appraiser?
No, but we will conduct an appraisal review on all appraisal reports submitted to us.

Where do we lend?
We currently lend in California only.

How do I get started on a hard-money loan?
To get started on an equity based hard money loan from http://www.ourfundsonline.com please e-mail me your dead or alive deals now !! e-mail to CaliforniaTDinvestments@gmail.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it or contact Jeffrey Martino Young today toll free 1-877-870-2676 or 24 hour cell phone # 310-984-0496 or fill out the loan application on our website. http://www.ourfundsonline.com

Press & Media Contact:
Jeffrey Martino Young
OurFundsOnline.com
1585 Terrace Way
Santa Rosa, CA 95404
(310) 984-0496
jyoung@essexmortgage.com
http://www.ourfundsonline.com