Prestige Estate Projects is currently trading at Rs. 141.75, up by 6.50 points or 4.81% from its previous closing of Rs. 135.25 on the BSE.
The scrip opened at Rs. 137.10 and has touched a high and low of Rs. 144.40 and Rs. 136.00 respectively. So far 50873 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 194.90 on 07-Feb-2013 and a 52 week low of Rs. 105.10 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 144.40 and Rs. 115.00 respectively. The current market cap of the company is Rs. 4980.50 crore.
The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 23.30% and 1.70% respectively.
Prestige Estate Projects has demonstrated strong operating performance in Q2 of FY14, despite all the negative factors affecting the economy, such as rising inflation, falling Rupee, lowest GDP Growth, surprise increase in the interest rates, volatility in the markets, sustaining the momentum created in Q1, in terms of operational performance and growth.
During the quarter, 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. Of total, Prestige share is 1,105 units and1.83 million square feet amounting to Rs 10,685 million of sales, up by 31% from that of Q2 FY12-13.
However, during the corresponding Q2 of previous year FY12-13, the company had sold 831 units and 0.29 Million square feet of Commercial space aggregating 1.62 million square feet amounting to Rs 8,160 Million of sales. Meanwhile, during the quarter the company has launched 4 residential projects across Bangalore and Chennai, aggregating to 5.21 million square feet of total developable area.
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