Real Estate firm Prestige Estate Projects has promoted Venkat K Narayana as the chief executive officer of the company. Narayana was earlier the executive director - finance and chief financial officer. The company has also promoted VVVBS Sarma as the new chief financial officer, from the post of executive director - finance and accounts of its services arm Prestige Property Management & Services, according to a BSE filing.
Prestige Estates on Monday reported a 96.4% rise in consolidated net profit to Rs 93.90 crore year-on-year in the quarter ended June. The company also witnessed a 35.4% increase in net sales to Rs 1,279.60 crore in the April to June quarter.
It had last year restructured its business into commercial, retail, hospitality and residential verticals. The developer has 65 ongoing residential projects totaling around 70.45 million sq ft, while it has 65 ongoing commercial projects comprising around 56.94 million sq ft.