Consolidated profit before tax stood at Rs 90.3 crore in Q4 March 2020, tumbling 57% from Rs 210.3 crore in Q4 March 2019. Total tax expenses declined 43% to Rs 39.20 crore in Q4 March 2020 from Rs 68.40 crore in Q4 March 2019.

Prestige Group is a property development company based in South India.

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The Board of Prestige Estates Projects at its meeting held on 24 June 2020 has approved issuance of Non-convertible debentures for an overall aggregate amount up to Rs. 1000 crore on Private placement basis.

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Net profit of Prestige Estates Projects declined 88.93% to Rs 15.40 crore in the quarter ended March 2020 as against Rs 139.10 crore during the previous quarter ended March 2019. Sales rose 0.15% to Rs 1982.30 crore in the quarter ended March 2020 as against Rs 1979.30 crore during the previous quarter ended March 2019.

For the full year,net profit declined 3.01% to Rs 403.10 crore in the year ended March 2020 as against Rs 415.60 crore during the previous year ended March 2019. Sales rose 57.10% to Rs 8124.80 crore in the year ended March 2020 as against Rs 5171.90 crore during the previous year ended March 2019.

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Prestige Estates Projects will hold a meeting of the Board of Directors of the Company on 24 June 2020.

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