Prestige Estates' Q3 sales bookings dips by 27% to Rs 429.3 crore

27 Feb 2017

Bengaluru-based developer, Prestige Estates Projects’ sales bookings fell by 27% to Rs 429.3 crore in the third quarter of this fiscal amid demand slowdown in property market post demonetization. The company had achieved a sales booking of Rs 588.4 crore in the year-ago period.

During April-December period of the 2016-17 fiscal, the company has reported over 4% decline in sales bookings at Rs 1,823.1 crore from Rs 1,908.7 crore in the corresponding period of the previous year. The company has launched only 1.98 million square feet in the first nine months of this fiscal, as against the target of 10-12 million square feet for the full fiscal.

However, the company has achieved the completion target with 11.08 million square feet of area already completed against the target of 10-12 million square feet.

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