Prestige Estates Registers 93% Increase in the Revenue and Highest Ever New Sales (by the Company) in QII FY 13-14:

 Prestige Estates Registers 93% Increase in the Revenue and Highest Ever New
                   Sales (by the Company) in QII FY 13-14:

  PR Newswire

  BANGALORE, November 8, 2013

BANGALORE, November 8, 2013 /PRNewswire/ --

FOR THE QUARTER (Q2) ENDED SEPTEMBER 30, 2013 :

Financial Highlights (Q2) :-

  *Revenue at Rs. 5,041 million, up by 93% as compared to the corresponding
    previous year's quarter (QII FY 12-13) revenue of Rs. 2,609 million.

  *EBIDTA at Rs. 1,476 million, up by 60% as compared to the corresponding
    previous year's quarter (QII FY 12-13) EBIDTA of Rs. 920 million.

  *PAT at Rs. 776 million, up by 70% as compared to the corresponding
    previous year's quarter's (QII - FY 12-13) PAT of Rs. 457 million.

  *Rental income at Rs. 592 million up by 16% as compared to the
    corresponding previous year's quarter's (QII - FY 12-13) rental income of
    Rs. 509 million.

Operational Highlights (Q2) :-

  *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.

  *The average realization of Rs. 5,876 per sqft is up by 15% as compared to
    the average realization achieved for the corresponding previous year's
    quarter (QII - FY 12-13) of Rs. 5,090 per sqft.

  *Registered total new leasing of 0.79 million square feet up by 46% as
    compared to the total new leasing for the corresponding previous year's
    quarter (QII - FY 12-13) of 0.54 million sqft.

  *Net Collections for the quarter aggregated to Rs. 6,198 million, up by 23%
    as compared to the corresponding previous year's quarter's (Q2 - FY 12-13)
    collection of Rs. 5,050 million.

FOR THE HALF-YEAR ENDED (H1) ENDED SEPTEMBER 30, 2013 :

Financial Highlights (H1) :

  *Revenue at Rs. 10,334 million, up by 104% as compared to the corresponding
    previous half year's (H1 FY 12-13) revenue of Rs. 5,073 million.

  *EBIDTA at Rs. 3,075 million, up by 62% as compared to the corresponding
    previous half year's (H1 FY 12-13) EBIDTA of Rs. 1,897 million.

  *PAT at Rs. 1,642 million, up by 73% as compared to the corresponding
    previous half year's (H1 FY 12-13) PAT of Rs. 950 million.

  *Rental income at Rs. 1,164 million up by 17% as compared to the
    corresponding previous half year's (H1 FY 12-13) rental income of Rs. 998
    million.

Operational Highlights (H1) :-

  *The Company has for the six months ended September 2013 sold 2,455 Units
    and Commercial Space, totalling to 3.93 million square feet, amounting to
    Rs. 22,939 million of Sales. (Achieved 53.35% of the Total Guidance of Rs.
    43,000 million of sales set at the beginning of FY 13-14).

  *The sales for the Q1 and Q2 (H1) of the FY 2013-14 are as under:

    Particulars    Q1           Q2           H1 (Half year)
    Sales (Rs. Mn) 11,442       11,497       22,939
    Area (Mnsf)    1.98         1.95         3.93

  *Registered total New Leasing of 1.23 million square feet up by 23% as
    compared to the corresponding previous half year's (H1 FY 12-13) total new
    leasing of 1.00 million square feet of Rs. 998 million.

  *Prestige Share of collections for the half-year ended 30th September, 2013
    are Rs. 12,272 million, up by 32% as compared to the corresponding
    previous half year's (H1 FY 12-13) prestige share of collections of 1.00
    million square feet. (Achieved 53.36% of the Total Guidance of Rs. 23,000
    million set at the beginning of FY 13-14).

  *The Company has launched total 10.08 million square feet of developable
    area for the six months ended September 2013, considering the 4.09 million
    square feet of launches in the Q1. (Achieved 72% of 14 million square feet
    of the guidance set at the beginning of the fiscal).

Commenting on this strong performance and growth, Mr. Irfan Razack ,  Chairman 
and Managing  Director, Prestige  Estates  Projects Limited  , said  "We  have 
registered the  highest  pre-sales ever,  during  this quarter  amounting  Rs. 
11,497 Mn. despite   all the  negative factors affecting  the economy,  which 
indicates the strength of brand ' Prestige ' and the trust that we enjoy  from 
the customers. We have launched during the  first half of the fiscal, over  10 
million sqft. of new projects across  Bangalore and Chennai and the same  have 
met with good response, which shows that  things on ground are pretty  robust 
and positive for  us.   On the turnover  front, there  is sizeable  un-booked 
revenue of more than Rs. 60,000 Million. With the execution of projects moving
in line with the  schedule, these revenues consistently  flow to the top  line 
and help  us in  sustaining the  Revenue  numbers we  have delivered  in  this 
quarter, going forward and to grow further."

About the Company :

Prestige Estates , having a  legacy spanning over two  and a half decades,  is 
one of south  India's leading  real estate  developers. It  has 168  completed 
projects aggregating over 51  million square feet of  developable area to  its 
credit and  currently has  65 ongoing  projects aggregating  to 54.45  million 
square feet of developable area and 28 upcoming projects aggregating to  33.94 
million  square  feet  of   developable  area  spanning  across   residential, 
commercial, retail and hospitality sectors  in major south Indian cities  such 
as Bangalore, Mysore, Mangalore, Chennai, Kochi, Hyderabad, Ooty, Goa, etc. It
is also currently the only CRISIL DA1  rated Developer in India . This  rating 
indicates the Company's excellent ability  to execute real estate projects  as 
per specified quality levels within stipulated time schedules and to  transfer 
clean titles.

Disclaimer :

Certain statements in  this document may  be forward-looking statements.  Such 
forward-looking statements are subject to certain risks and uncertainties like
regulatory changes, local  political or  economic developments,  technological 
risks and many  other factors that  could cause our  actual results to  differ 
materially from those contemplated. Prestige Estates Projects Limited will not
be in any way responsible  for any action taken  based on such statements  and 
undertakes no obligation to  publicly update these forward-looking  statements 
to reflect subsequent events or circumstances.

Primary Media Contact : Venkat K. Narayana, contact@marchingantsllp.com ,
91-80-25501280

Contact: PRN