Prestige Estates down 2% on poor Q2, to up stake in Villaland

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Moneycontrol BureauShare price of Prestige Estates Projects declined 2.5 percent intraday Thursday on the back of poor numbers declared by the company for the quarter ended September 2016.The company has registered 58.3 percent decline in its consolidated Q2 (July-Sept) net profit at Rs 64.5 crore from Rs 154.5 crore, in the same quarter last year.Total income was down 29.3 percent at Rs 1,151.8 crore versus Rs 1,628.7 crore.The company's EBITDA was down 30.8 percent at Rs 239.1 crore and EBITDA margin was at 20.8 percent.In the board meeting held on December 7, the company board has approved acquisition of additional 20 percent stake in Villaland Developers LLP from one of its existing partners.Post the said acquisition, the company's stake will increase to 80 percent from current 60 percent in the target entity; the rest 40 percent stake is holding by other partners.Villaland Developers LLP had reported a turnover of Rs 212.35 crore as on March 31, 2016.The transaction is expected to be completed by December 31, 2016, with a cash consideration of approximately Rs 20 crore.At 09:41 hrs Prestige Estates Projects was quoting at Rs 146.05, down Rs 2.60, or 1.75 percent on the BSE.Posted by Rakesh Patil