Prestige Estates Projects has reported net consolidated profit of Rs 216.4 crore in October-December quarter of the financial year 2019-20. Its profit after tax (PAT) stood at Rs 67.4 crore in the similar quarter last year, the company said in a regulatory filing.
The company’s total income from operations was Rs 2,696.3 crore during Q3 FY20, a growth of 150 per cent from Rs 1,079 crore it registered in the corresponding quarter previous year.
The board of directors has allotted 1,34,41,654 equity shares of Rs 10 each to an investor, on a preferential allotment basis, at a price of Rs 325 per equity share.
During the nine months ended December 31, 2019, the group has acquired further 51% stake in Prestige Hyderabad Retail Ventures, 90% stake in Prestige Garden Estate, 50% stake in Bamboo Betel and Global Centre (Delhi) and 28.99% stake in DB (BXC) Realtors for a consideration amounting to Rs 364 crore, Rs 211.9 crore, Rs 43.3 crore and Rs 50.1 crore million respectively.
The group has also entered into an investment agreement resulting in loss of control in Apex Realty Management and Apex Realty Ventures LLP. Post December 31, 2019, the company has acquired directly/indirectly 50% stake in Lokhandwala DB Realty LLP.