Prestige Estates Projects (PRESTIGE) Q3 24/25 earnings summary

Executive summary

• Achieved Q3 FY25 sales of INR 3,013 crores with 2.23 million sq ft sold across 880 units, with strong contributions from Bangalore, Mumbai, and Hyderabad projects.

• Nine-month sales totaled INR 10,000 crores with 8 million sq ft sold across 3,618 units; collections for the period were INR 8,910 crores.

• 38-year legacy with presence in 13 cities and top developer ratings from CRISIL and ICRA.

• Diversified business across residential, commercial, retail, hospitality, and property management.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.

Financial highlights

• Q3 FY25 revenue stood at INR 1,697 crores; EBITDA was INR 633 crores with a margin of 37%.

• Q3 FY25 revenue at ₹16,979 mn (down 13.83% yoy), EBITDA at ₹6,335 mn (down 80.45% yoy), PAT at ₹322 mn (down 12.77% yoy).

• Standalone revenue for Q3 FY25 was Rs. 7,100 million, up from Rs. 5,787 million in Q3 FY24; standalone net profit was Rs. 1,317 million, up from Rs. 111 million.

• Consolidated revenue for Q3 FY25 was Rs. 16,545 million, down from Rs. 17,958 million in Q3 FY24; consolidated net profit was Rs. 322 million, down from Rs. 1,644 million.

• Cash for the quarter was INR 32 crores, impacted by mark-to-market loss on equity holdings.

Outlook and guidance

• Confident in meeting FY25 sales guidance of INR 23,000–24,000 crores, contingent on timely regulatory approvals.

• Launch pipeline of INR 50,000 crores in inventory expected this quarter, with additional INR 50,000 crores under design.

• Upcoming launches with a total GDV of ₹568,664 mn across major cities.

• FY26 launch and pre-sales guidance to be provided at the end of the current quarter.