Prestige Estates Projects Ltd’s net profit jumped many-fold to Rs 1,336 cr for Q4FY21

New Delhi: Bengaluru-based Prestige Estates Projects Ltd’s consolidated net profit jumped many-fold to Rs 1,336 crore for the fourth quarter of the last fiscal as compared to Rs 15.4 crore in the same quarter of the previous fiscal. The higher profits in the fourth quarter of the last fiscal was on account of monetisation of huge portfolio of some commercial assets.

The total income of the realty major jumped to Rs 2,361 crore for the fourth quarter of the last fiscal as compared to Rs 2,017 crore in the same quarter of the previous fiscal, the company said in a regulatory filing.

Prestige Estates made exceptional profits to the tune of Rs 1,470 crore in the fourth quarter by way of monetisation of some commercial assets.

For the whole of last fiscal, the company clocked net profit of Rs 1,456 crore as compared to Rs 403 crore in the previous year. The total income declined to Rs 7,502 crore in the last fiscal as compared to Rs 8,243 crore in the previous year.

 

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