Tag Archives: prestige group

Business

To Commemorate 30 Years in the Industry, the Prestige Group Presents a Repertoire of Projects Across South India in their First Ever Solo Expo – KEYS

Leave a comment

The expo will be held on September 23rd, 24th & 25th from 10am-8pm at ITC Gardenia, Bengaluru.

Bengaluru, India, September 22nd, 2016 — The Prestige Group, one of India’s largest developers is all set to celebrate a special milestone in the history of the company. To commemorate their 30th year in the business, Prestige will be hosting its first-ever solo expo, showcasing their entire collection of on-going as well as upcoming properties across South India. Over 50 developments across 5 cities being Bangalore, Mangalore, Hyderabad, Chennai, and Kochi will be showcased at 1 location – ITC Gardenia.

The expo will include a wide range of projects, including mid-segment, premium, and luxury housing. Given that Prestige is one of the pioneers of luxury housing in South India, there will also be a separate Premium Lounge, dedicated exclusively to showcase all their luxury projects.

Commenting on the occasion of this milestone, Mr. Swaroop Anish – Executive Director, Business Development, Prestige Group said, “India, today is living the growth story. The property market itself has witnessed a revolution with certain consumer-friendly laws coming into effect, decreasing home loan rates, and attractive payment plans; all contributing to an increase in demand, for quality homes.”

“Over the last 3 decades, brand ‘Prestige’ has grown to become one of the most trusted and aspirational brands in the country. Today, homebuyers aspire to buy Prestige homes as we have succeeded in consistently giving a strong return on investment on all developments till date, apart from providing the highest standards of living to thousands of satisfied homeowners.”

“Given the company’s presence across diverse sectors, the Prestige Group is one of the prime movers in the mid-segment to premium, and luxury real estate space. Keeping this in mind, we came up with the concept of ‘KEYS’ – as a tribute to the thousands of keys that we have handed over to our customers till date. I invite all aspiring homebuyers/investors from across South India, to come and make the most of this event.”

Interested buyers will get the benefit of special offers during the expo. Additionally, customers also stand to win exclusive gifts and privileges throughout the three-day event.

prestige-keys-100kb

About the Prestige Group:
The Prestige Group has firmly established itself as one of the leading and most successful developers of real estate in India by imprinting its indelible mark across all asset classes. Founded in 1986, the group’s turnover is today in excess of INR 4,700 Crore (for FY ’16).

Having completed more than 195 projects across Bangalore, Chennai, Hyderabad, Kochi, and Mangalore, covering over 67 million sqft, currently the company has 65 on-going projects covering 70.45 million sqft and 36 upcoming projects aggregating to 48 million sqft of world-class real estate space across residential, commercial, retail, leisure and hospitality segments. In October 2010, the Prestige Group also successfully entered the Capital Market with an Initial Public Offering of INR 1,200 crores.

Now, with over 150 landmark developments across Bangalore, Prestige has extended its expertise to all major cities across South India making them the only developers in the region to boast of such a widely distinct portfolio.

Prestige Group is the only developer from Bangalore to receive the reputed FIABCI award for their software and residential facilities. At the Asian Brand Conclave this year, Prestige Group was awarded the “Admired Brand of Asia” in the category of Real Estate while Mr. Irfan Razack was chosen as the “Admired Leader of Asia 2014-15”. Among other laurels, the company’s Investor Relationship (IR) Programme, was ranked as Second Best in Asia and the Best in India by the Institutional Investor (II) magazine’s 2014 All-Asia Executive Team Rankings. Prestige is the only CRISIL DA1-rated Developer in India and was recently awarded the financial rating of ‘A-‘ by ICRA. They have also won a plethora of international and national awards over the last decade, across categories, including the Asia Pacific Property Awards, Asia Pacific Hotel Awards, Cityscape Awards, Indian Realty Awards, Srishti Good Green Governance Awards, Pevonia Asia Spa Awards, Builder’s Association of India (BAI) and Confederation of Real Estate Developers’ Associations of India (CREDAI) Awards, amongst others.

For further information, please contact:
Ms. Urmila Biswas | Ms. Shreya Suresh
Lateral Thinkers Communications
M: +91 98860 99736 | 92434 34411
E: contact@marchingantsllp.com
U: http://www.keys.prestigeconstructions.com

Business

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

Leave a comment

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

Government

The Elections are Here! It is Time to Take a Stand! It is Time to VOTE!

Leave a comment

As the largest democracy in the world goes to elections this month, Prestige Group associates with a Bangalore-based Designer to put together a campaign to get every Citizen of India, to go out and Vote!

Bangalore, India, April 09, 2014 — 2014 will witness one the most critical and decisive elections in the history of India. It’s time to shift from passive acceptance to active participation. YOU VOTE. YOU DECIDE. is a call to action campaign, propelling urban, educated India to come out and vote. Design has immense power to impact change. By transforming the billboards in the city of Bangalore through this bold and thought-provoking campaign, Tania Singh Khosla, a city-based designer, (Founder of Brand Design Firm tsk Design) has attempted to prod people out of their lull, to take notice, think and then hopefully, act.

It is estimated that there are around 100 million first time voters this year, and through this campaign Tania, tries to play her part by creating an impact in dressing up the city for the upcoming elections. The massive billboards across the city will provide an exciting and potent canvas for the YOU VOTE. YOU DECIDE. campaign.

The Prestige Group, recently voted as one of the most trusted brands in Indian Real Estate, is helping Tania & her team dress up the city, as a part of its CSR Activity. The company will share a few prominent billboards earmarked for their routine promotions across the city, for this initiative. “Through this campaign, we wish to remind citizens that voting is the absolute power that each one of us has in deciding the country’s and our own future. Prestige’s commitment to quality has been derived from taking responsibility for our actions. It is with this in mind that we wish to impress upon the citizens of our city too, and remind them about their responsibility towards the country” says Uzma Irfan, Executive Director, Corporate Communications, Prestige Group.

In response to the fervor of the current election, the clutter of political debate and character bashing, this is an attempt to make people sit and take notice of a SIMPLE and powerful thought: we are ALL deeply concerned about the future of India – our future. EACH one of us is empowered to decide that future through the voice of our vote. We should CELEBRATE this freedom – it is a privilege. We can do this by exercising our RIGHT to vote…

Remember YOU VOTE. YOU DECIDE.

Power this Campaign

Please log onto
Behance (http://www.behance.net/youvoteyoudecide)
Facebook (https://www.facebook.com/YouVoteYouDecide)

Companies who wish to join this campaign and dress their billboards to encourage eligible citizens to vote, please contact info@tsk-design.com.

About Prestige Group:
The Prestige Group is one of the most trusted brands in Indian Real Estate, a reputation it has earned over the last two and a half decades. Founded in 1986, the Group is now headed by Irfan Razack, along with brothers Rezwan, in the role of Joint Managing Director & Noaman, as Whole-time Director. Prestige has expanded its presence to several cities in South India including Chennai, Goa, Hyderabad, Kochi, Mangalore, and Mysore apart from Bangalore, where it has established a strong foothold. Having completed 169 Projects spanning a total developed area of over 51.37 million sqft, Prestige has 65 ongoing projects comprising around 56.94 million sqft & 28 upcoming projects, totaling 31.15 million sqft, which include Apartment Enclaves, Shopping Malls and Corporate Structures.

Prestige’s aggressive growth plans in the Residential, Commercial, Retail, and Hospitality Sectors in the cities of Bangalore, Chennai, Goa, Hyderabad, Kochi, Mangalore, and Mysore has endowed these cities with Malls, Townships, Tech Parks, Golf Developments, Luxury Villas and SEZ’s that are world class edifices raising living and working standards exponentially. The undoubted quality and distinction of Prestige properties have drawn accolades from real estate award juries both nationally and internationally, including the coveted FIABCI award.

Press & Media Contact:
Ms. Urmila Biswas
+91 98860 99736
contact@marchingantsllp.com
http://www.prestigeconstructions.com

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”;}

Real Estate

Prestige Estates Registers Record New Sales of Rs. 10,101 mn in Q1 FY 12-13

Leave a comment

Prestige Estates, a Bangalore based Real Estate Developer registered record new sales of Rs. 10,101 mn for Q1FY13.

Bangalore, India, Tuesday – August 07, 2012 — Highlights of Q1 FY 12-13:
* New Sales recorded at Rs. 10,101 mn
* Turnover of Rs. 2,464 mn
* PAT at 20% amounting to Rs. 493 mn

Prestige Estates ( http://www.prestigeconstructions.com ), a Bangalore based Real Estate Developer registered record new sales of Rs. 10,101 mn for Q1FY13. This included 1.65 mn sft of Residential (totaling to 891 units) and 0.38 mn sft of Commercial space. The company has launched 2.19 mn sft this Quarter spanning over 7 residential projects, namely Prestige Garden Bay, Prestige Glen Wood, Prestige Silver Crest, Prestige Mayberry, Prestige Summer Fields and Prestige Silver Sun and has 6 mn sft in the pipeline for launch over the next three quarters in this fiscal.

Prestige Estates also reported Q1FY13 Turnover of Rs. 2,464 mn with PAT at 20% amounting to Rs. 493 mn.

Commenting on the performance of the Company, Mr. Irfan Razack, Chairman and Managing Director, Prestige Estates, said, “There has been a continuous growth in sales every Quarter and this Quarter in particular has been exceptionally good for us. All our new projects launched over the last one year have met with extremely good response. Our focused approach in launching projects with right pricing, appropriate ticket size, in best locations coupled with our strong Brand Name has helped us in achieving these phenomenal numbers. We had set a target of Rs.25,000 mn for new sales for FY 2012-13 at the beginning of this fiscal, of which we have already achieved 40% this Quarter itself. The momentum is continuing in the Second Quarter as well ensuring that we are well on track to achieve our set targets. This kind of sales momentum and demand for our projects also shows the kind of trust the people have in our company and our execution capabilities, thus increasing our responsibility and commitment to deliver better and quality projects, every time. Even in Chennai – Our new offering Prestige Bella Vista, has met with great response. We will also be opening our New Mall “Forum Vijaya” for this Diwali, which will help us in increasing our footprint in that region.”

Mr. Venkat. K. Narayana, Executive Director, Finance and CFO added to Mr. Razack, saying, “We have Unrecognized revenue of Rs. 41,482 mn as on date and the same will come for revenue recognition based on construction progress (POC) assuring the top line for the next 2-3 fiscals. Our top line for the last 2 quarters of FY-13 will also grow significantly, as lot of new projects will start coming for recognition. Our Debt to Equity Ratio (0.53 standalone and 0.75 on a consolidated basis) is also low as compared with the Industry norms considering that the we also had a huge rental portfolio yielding Rs. 2,000 mn rent per annum.”

For the year 2011-12, the Company had given a guidance of Rs. 15,000 mn for new sales but surpassed it by achieving New Sales of Rs. 22,000 mn. The company has so far delivered 163 Projects spanning over 46.97 Mn. sft of developed area and has currently 42 on-going projects aggregating 40 mn sq. ft of developable area. Some of the Completed Projects include UB City, The Forum, Prestige Acropolis, Prestige Shantiniketan, Prestige Ozone and Prestige Tech Park.

Prestige Estates ( http://www.prestigeconstructions.com ) is the only DA1 Rated Developer in the Country, according to CRISIL which signifies the Company’s excellent ability to execute real estate projects as per specified quality levels, within stipulated time schedules and to transfer clean title.

Press & Media Contact:
Neha Verma
Prestige Estates Projects Ltd
Bangalore – 560 001 (India)
7760979451 / 9916142880
neha@prestigeconstructions.com
http://www.prestigeconstructions.com

Real Estate

Crisil DA1 Excellent Rating Conferred Upon the Prestige Group

Leave a comment

The Prestige Group has emerged as the only developer in India to receive the coveted ‘Crisil DA1 Excellent’ rating.

Bangalore, India, Thursday – May 24, 2012 — The Prestige Group ( http://www.prestigeconstructions.com ) has emerged as the only developer in India to receive the coveted ‘Crisil DA1 Excellent’ rating. While the Crisil DA1rating, which is the highest form of certification among developers, is sought by all in the sector, it is only the Prestige Group which has managed to walk away with the ‘Excellent’ rating from them, within India, thus reinforcing their position as one of the foremost developers in the country today.

Mr. Irfan Razack – CMD, Prestige Group said, “While the Prestige Group has always attempted to create benchmarks and raise the bar through their innovation, creativity and determination to provide international standards of quality and design in their various developments, a certification of the highest level from an authority such as Crisil will surely reinforce the faith that thousands of loyal Prestige patrons have in the company.”

About Crisil Real Estate Developer Ratings:
CRISIL is India’s largest credit rating agency and is today the undisputed business leader, with the largest number of rated entities and rating products. Crisil Real Estate Developer Ratings are opinions based on a developer’s past track record in executing real estate projects and are indicative of their ability to do so in future. Factors such as legal & construction track record of the developer; organizational systems, structure & processes; financial profile; are assessed while assigning the rating. Developers with higher ratings will have properties that are legally sound and that are completed and delivered on schedule.

Rating scale and definition:
The rating symbols of the real estate developers’ rating use the letter ‘DA’, indicating the Developer’s Ability to execute projects, as suggested by his track record.

Symbol: DA1
Interpretation: EXCELLENT
Definition: The developer’s ability to execute real estate projects as per specified quality levels within the stipulated time schedule, and to transfer clean title, is excellent.

Symbol: DA2
Interpretation: VERY GOOD
Definition: The developer’s ability to execute real estate projects as per specified quality levels within the stipulated time schedule, and to transfer clean title, is very good.

Symbol: DA3
Interpretation: GOOD
Definition: The developer’s ability to execute real estate projects as per specified quality levels within the stipulated time schedule, and to transfer clean title, is good.

Symbol: DA4
Interpretation: BELOW AVERAGE
Definition: The developer’s ability to execute real estate projects as per specified quality levels within the stipulated time schedule, and to transfer clean title, is below average.

Symbol: DA5
Interpretation: POOR
Definition: The developer’s ability to execute real estate projects as per specified quality levels within the stipulated time schedule, and to transfer clean title, is poor.

About Prestige Group:
Synonymous with innovation, the Prestige Group has in recent years expanded its presence across several cities in South India including Chennai, Kochi, Mangalore, Mysore, Hyderabad and Goa, apart from Bangalore.

The company already has several successful completed and ongoing projects in Chennai to its credit, spanning the commercial and retail segments. Prestige Cyber Towers and Prestige Palladium are two recently completed commercial developments, which have received an overwhelming response. Among other projects, Prestige Polygon, another commercial development, is currently under construction while the Forum Vijaya Mall, slated to be Chennai’s largest mall, is also scheduled to be unveiled later this year.

Over the last decade, the Prestige Group ( http://www.prestigeconstructions.com ) has firmly established itself as one of the leading and most successful developers of real estate in South India by imprinting its indelible mark across all asset classes. Founded in 1986, the group’s turnover has today crossed Rs. 1,600 crores. A leap that has been inspired by CMD Irfan Razack and marshaled by his brothers Rezwan Razack and Noaman Razack. Having completed more than 161 projects covering over 45.82 million sqft, the group has over 61.33 million sqft of under development & planned projects. In October 2010, the Prestige Group also successfully entered the Capital Market with an Initial Public Offering of Rs 1,200 crore.

Aggressive growth plans in the residential, commercial, retail, and hospitality domains will be visible in the skylines of Bangalore, Chennai, Hyderabad, Cochin, Mangalore, Mysore and Goa in the coming years, giving each city an unparalleled experience with landmark malls on the lines of The Forum, Large Townships, Tech Parks, Hotels, Luxury Villas and SEZs.

The Prestige Group is the only developer from Bangalore to receive the reputed FIABCI award for their software and residential facilities. The Prestige Group has been on a winning spree for the last two years and has received several international and national awards for their various developments.

Press & Media Contact:
Urmila Biswas / Lakshman Babu
Ogilvy Public Relations Worldwide
Bangalore, India
Ph: 98860 99736 / 98457 06155
urmila.biswas@ogilvy.com
http://www.prestigeconstructions.com

Real Estate

The Prestige Group Sweeps a Whopping 15 awards at the International Property Awards Asia Pacific 2012-2013

Leave a comment

The Prestige Group, has once again shown its mettle at the recently concluded International Property Awards for the Asia Pacific Region, for 2012-2013.

Bangalore, India, May 13, 2012 — The Prestige Group ( http://www.prestigeconstructions.com ), the only developers from South India to have presence in the residential, commercial, retail, leisure and hospitality segments, has once again shown its mettle at the recently concluded International Property Awards for the Asia Pacific Region, for 2012-2013. The company has walked away with 15 awards across different categories. At a glittering award ceremony, held at the Marriott Hotel in Kuala Lumpur and attended by the stalwarts of the realty, retail and hospitality industry, the awards were received by Ms. Uzma Irfan – Executive Director, Corporate Communications & Mr. Zaid Sadiq – Executive Director, Liasoning & Hospitality of the Prestige Group.

Ms. Uzma Irfan – Executive Director, Corporate Communications, Prestige Group said ( http://www.prestigeconstructions.com ), “The Prestige Group attempts to create landmarks that symbolize world-class architecture, timeless designs and aesthetics. To us, every award is a recognition of the hard work and dedication that has gone into making these creations and they motivate us to raise the bar going forward.”

Award Categories:

* Prestige Golfshire (Bangalore):
Best Golf Development, India
Best Property Single Unit, India
Highly Commended Interior Design Apartment, India

* Forum Sujana Mall (Hyderabad):
Best Retail Development, Asia Pacific
Best Retail Development, India

* Prestige Ozone (Bangalore):
Highly Commended Leisure Interior, India
Highly Commended Leisure Development, India

* Prestige Oasis (Bangalore):
Best Interior Design Apartment, India

* Prestige White Meadows (Bangalore):
Highly Commended Development Multiple Units, India

* Prestige Neptune’s Courtyard (Kochi):
Highly Commended Interior Design Apartment, India

* Cessna Business Park (Bangalore):
Highly Commended Industrial Development, India

* Prestige Delta (Bangalore):
Highly Commended Commercial Renovation/Redevelopment, India

* Prestige Shantiniketan (Bangalore):
Highly Commended Commercial High-Rise Development, India

* Prestige Tech Park (Bangalore):
Highly Commended Industrial Development, India

* Sublime Galleria (Bangalore):
Best Retail Interior, India

About the International Property Awards – Asia Pacific:
The International Property Awards in association with HSBC is open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating in all sectors of the property and real estate industry. An International Property Award is a world-renowned mark of excellence.

The awards are split into regions covering the Americas, Asia Pacific, Europe, Africa, Arabia and UK. Participants enter at their relevant national level and are judged by a highly experienced team of professionals who cover the whole range of property disciplines. Companies selected as winners are then invited to attend a glittering awards dinner for each region and have the right to use the prestigious logo in their marketing. The highest-scoring winners from each region are automatically entered into the overall International Awards, which ultimately determine the world’s finest property companies.

About Prestige Group:
Synonymous with innovation, the Prestige Group ( http://www.prestigeconstructions.com ) has in recent years expanded its presence across several cities in South India including Chennai, Kochi, Mangalore, Mysore, Hyderabad and Goa apart from Bangalore.

The company already has several successful completed and ongoing projects in Chennai to its credit, spanning the commercial and retail segments. Prestige Cyber Towers and Prestige Palladium are two recently completed commercial developments, which have received an overwhelming response. Among other projects, Prestige Polygon, another commercial development, is currently under construction while the Forum Vijaya Mall, slated to be Chennai’s largest mall, is also scheduled to be unveiled later this year.

Over the last decade, the Prestige Group has firmly established itself as one of the leading and most successful developers of real estate in South India by imprinting its indelible mark across all asset classes. Founded in 1986, the group’s turnover has today crossed Rs.1600 crore. A leap that has been inspired by CMD Irfan Razack and marshaled by his brothers Rezwan Razack and Noaman Razack. Having completed more than 161 projects covering over 45.82 million sqft, the group has over 61.33 million sqft of under development & planned projects. In October 2010, the Prestige Group also successfully entered the Capital Market with an Initial Public Offering of Rs 1,200 crore.

Aggressive growth plans in the residential, commercial, retail, and hospitality domains will be visible in the skylines of Bangalore, Chennai, Hyderabad, Cochin, Mangalore, Mysore and Goa in the coming years, giving each city an unparalleled experience with landmark malls on the lines of The Forum, Large Townships, Tech Parks, Hotels, Luxury Villas and SEZs.

The Prestige Group is the only developer from Bangalore to receive the reputed FIABCI award for their software and residential facilities. The Prestige Group has been on a winning spree for the last three years and has received several International and National Awards for their various developments.

For more information, please visit http://www.prestigeconstructions.com

Press & Media Contact:
Neha Verma
Prestige Estates Projects Ltd
Bangalore – 560 001 (India)
7760979451/9916142880
neha@prestigeconstructions.com
http://www.prestigeconstructions.com