Tag Archives: property awards

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

• 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”;}

Crisil DA1 Excellent Rating Conferred Upon the Prestige Group

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

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

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