Prestige Estates Projects shares touched a new high of Rs 553.40, up 8% on the BSE in Tuesday’s intra-day trade, after the real estate business reported the biggest ever quarterly revenues of Rs 4,267 crore, up 111% year on year (YoY) during the October-December quarter (Q3FY22).

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The company also recorded its highest-ever quarterly revenue of Rs 2,431.6 crore, up 70% year on year, during Q3FY22, owing to a strong response to newly launched projects such as Prestige Avalon, Aspen & Eden Park, part of The Prestige City, Bengaluru, Prestige Beverly Hills, Hyderabad, and existing inventories across geographies.

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The stock was up 6% at Rs 544.30 at 09:37 a.m., compared to a 0.07% rise on the S&P BSE Sensex. The stock has experienced massive trading volumes, with 15 lakh equity shares changing hands on the NSE and BSE in the first 25 minutes of trading. In the previous week, the stock outpaced the market by about 20%, compared to a 1.3% gain in the S&P BSE Sensex.

The company reported a record Rs 7,113 crore in sales and Rs 5,005 crore in collections for the first nine months (April-December) of the fiscal year 2021-22 (9MFY22).

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“As we kick off 2022, our business plan will be anchored by a principal focus on revenue expansion as we continue to capitalize on our brand premium, execution track record and market consolidation theme. We are looking forward to further growth in our sales in 2022, backed by the robust launch pipeline of over 15 mn. sqft,” the management said.

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According to ICICI Securities, the company’s focus going ahead will be on revenue increase, which will be driven by its capitalization on brand premium, great execution track record, market consolidation, and healthy launch pipeline.