Prestige Song of the South to aid Q2 results

Prestige Song of the South Latest News

CMD of Prestige Estates says Prestige launched its project Prestige Song of the South this quarter. This project of over 2,000 homes will help maintain the company’s numbers.

Talking about the launches, he said Prestige launched its Bangalore project- Prestige Song of the South in August. This project of over 2,000 homes will help company return to its earlier numbers, he says, adding, two major projects in Kochi and Chennai did not get approved, but will be launched soon.

This quarter the company reported a consolidated profit after tax (PAT) margin of 10 percent which is in line with what has happened in the previous quarters. Either going up substantially or going down substantially. The EBITDA margins have taken a little bit of a change only because one project which Prestige doing in Chennai where they had some cost over runs and that got booked in this quarter. Going forward the business that they are in could always have some savings in some project or they could always be some additional thing but they don’t think there will be any major blip that really get worried about.