Prestige Estates builds up

Prestige Estates Projects did well for Q1FY18. On a 35% (YoY) rise in consolidated revenue from operations at Rs.1280 crore, the company posted a 68% increase in net profit at Rs.119 crore.

The healthy growth in topline helped the overall bottomline. EBITDA was up by a very good 55% at Rs.265 crore and margins expanded to 20.7% from 18.1%.

The market is very happy with the numbers and it reacted with an almost 7% jump to Rs.276.30. Its 52-week high is at Rs.291.45.