Prestige Estate Projects jumps 3%, up 10% in four sessions

NEW DELHI: Shares of Prestige Estate Projects rose nearly 3 per cent on Thursday, taking its winning streak to fourth session on healthy quarter earnings and reports that the Bengaluru-based realtor promoted Venkat K Narayana as its chief executive officer (CEO).

Narayana was earlier executive director-finance and chief financial officer. He has been involved in the companies' operations and has pioneered several strategic initiatives.

Following the development, the stock rose 2.86 per cent to hit a high of Rs 275.10 on BSE. It settled the day at Rs 263.50, up 1.48 per cent. Including Thursday’s gains, the scrip has jumped 10 per cent in four trading sessions.

The realtor has reported a 96.4 per cent year-on-year (YoY) surge in consolidated net profit at Rs 93.90 crore on 35.4 per cent YoY increase in net sales at Rs 1,279.60 crore for June quarter.