InvestorQ : Is it true that Prestige Projects is planning a major expansion of its properties?
manisha Kolvenkar made post

Is it true that Prestige Projects is planning a major expansion of its properties?

Answer
image
Crowny Pinto answered.
3 months ago
Follow

Prestige Estates and Projects or PEPL; which is part of the Irfan Razzack group of South India, has laid out some massive expansion plans to coincide with the expected economic recovery. PEPL is based out of Bengaluru plans to invest Rs.2000 crore in new projects.

In fact, PEPL plans to develop four new housing projects spread across the cities of Bengaluru, Goa and Hyderabad. Chairman, Irfan Razzack has already confirmed that nearly 50% of the apartments in the Hyderabad project had already been booked and sold out.

In the Sep-20 quarter, PEPL had clocked 9% growth in revenues at Rs.1124 crore on the strength of a strong revival in demand for housing across South India. We are seeing a separation of the men from the boys. Realty companies with a better track record of execution are seeing demand gravitating towards them and PEPL has benefited largely.

0 Views