Prestige Estates Projects (PRESTIGE) Q3 25/26 earnings summary

Executive summary

• Achieved record operational and financial performance in Q3 and 9M FY26, with pre-sales of INR 22,327 crore (up 122% YoY) and collections of INR 13,283 crore, surpassing previous full-year peaks.

• Sales volumes for Q3 were 2.99 million sq ft, with 16.95 million sq ft sold over nine months and over 8,500 units sold YTD.

• Completed major residential and office projects, including The Prestige City Sarjapur (3,316 units, 5.2 mn sft) and 3.7 mn sft of premium office space in Bengaluru.

• Geographic mix remains diversified, led by Mumbai, Bangalore, Hyderabad, and NCR.

• Board approved unaudited standalone and consolidated results for Q3 and 9M FY26, reviewed by statutory auditors with no material misstatements.

Financial highlights

• Q3 FY26 consolidated revenue was INR 3,886 crore (up 128% YoY); EBITDA at INR 873 crore; PAT at INR 245 crore; EBITDA margin at 22.5%.

• 9M FY26 consolidated revenue was INR 9,052 crore; EBITDA at INR 3,104 crore; PAT at INR 1,015 crore; EBITDA margin at 34.3%.

• Standalone Q3 FY26 revenue was Rs. 11,294 million; net profit Rs. 458 million; consolidated Q3 net profit Rs. 2,447 million.

• Collections in Q3 were INR 4,584 crore and INR 13,283 crore for nine months, both record highs.

• Unrecognized revenue as of Dec 31, 2025, stood at INR 61,922 crore, providing strong future visibility.

Outlook and guidance

• Confident of crossing INR 30,000 crore in pre-sales for FY 2026, with Q4 expected to contribute INR 8,000 crore.

• FY 2027 guidance to be provided in April; management expects to sustain or better FY 2026 performance, with new launches in key markets.

• Projected annuity income from commercial assets to grow from INR 8,288 million in FY26 to INR 39,805 million in FY30 (CAGR 48%).

• Retail exit rentals expected to rise from INR 2,754 million in FY26 to INR 11,758 million in FY30 (CAGR 44%).

• The Group expects to recover pending claims related to a joint development agreement, despite ongoing legal proceedings.