Prestige Estates has performed better in Bangalore real estate business
Bangalore based Prestige Estates has performed better than its competitors in the industry, especially in the fourth quarter of the last fiscal.
The group is a well-known developer in South India with a strong presence in Bangalore, Hyderabad, Chennai, Mysore and Mangalore.
This progress happened due to the stable real estate growth in Bangalore and other southern markets and the company’s balanced focus on residential as well as commercial realty developments.
The developer group is also planning to launch 6-8 million sq ft of projects in Bangalore and other areas in the residential category.
In an expansion plan the group intends to lease close to 2.5 million sq ft, earning a rental income of close to Rs 225 crore, and post an operating margin of around 30%. It is likely to spend Rs 200-300 crore for acquiring land.
Over the past six months, it has gained 48 percent against a 3 percent drop in the 12-member BSE Realty Index.
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Source: Economic Times
Prestige Estates, Projects in bangalore, real estate growth in Bangalore, Real Estate in Bangalore
