Prestige Estates Q2 Profit Falls 44% to Rs 256 Cr

New Delhi: Realty firm Prestige Estates Projects Ltd on Friday reported a 44 per cent decline in its consolidated net profit to Rs 256.2 crore for the quarter ended September.

Its net profit stood at Rs 457.4 crore in the year-ago period.

Total income fell to Rs 2,222.2 crore in the second quarter of this fiscal from Rs 2,697.8 crore in the corresponding period of the preceding year, according to a regulatory filing.

During the April-September period of this fiscal, the company’s profit declined to Rs 527.6 crore from Rs 768.9 crore in the year-ago period.

Total income fell to Rs 5,057.8 crore in the first half of this fiscal from Rs 5,166.5 crore in the corresponding period of the preceding year.

Bengaluru-based Prestige Estates is one of the leading real estate developers in the country.

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