Analyst Concall
Prestige Estates sees FY26 sales at INR 270 bln
This story was originally published at 19:04 IST on 30 May 2025
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--Prestige Estates: Jan-Mar revenue impacted by slightly lower handovers
--CONTEXT:Prestige Estates' mgmt comments in post-earnings call with analysts
--Prestige Estates: Identified some land around NCR, see huge potential
--Prestige Estates: Have upcoming projects in Hyderabad market
--Prestige Estates: Target INR 120 bln-INR 130 bln revenue in Apr-Jun
--Prestige Estates:See higher collections FY26, with more project completions
--Prestige Estates: No red flags seen with respect to demand, footfall
--Prestige Estates:Expect to complete project with Valor Estate in 3-3.5 yrs
By Arya S. Biju
MUMBAI – Prestige Estates Projects Ltd. expects to deliver a revenue of INR 120 bln-INR 130 bln in the June quarter and INR 270 billion in 2025-26 (Apr-Mar), the management said in a post-earnings analyst call Friday. The company's consolidated revenue was INR 15.28 billion in the March quarter. For FY25, the company reported a revenue of INR 73.49 billion, missing its sales guidance of around INR 240 billion by a wide margin.
The company expects a healthy pickup in collections in FY26, with more projects expected to be completed during the year. Projects launched towards the end of the March quarter were not included in the FY25 collections, the company said, adding that this will be visible in the June quarter collections. In the March quarter, its collections were INR 31.55 billion, down 9% on year. Collections remained largely flat at INR 120.84 billion in FY25.
During the March quarter, the real estate developer's bottom line declined 82% on year to INR 250 million, sharply lower than the analysts' estimate of INR 3.29 billion. The company's consolidated revenue fell over 29% on year in the latest quarter and nearly 7% in FY25, impacted by a slightly lower handovers, Chief Financial Officer Amit Mor said.
Prestige Estates sees huge potential in the National Capital Region. The company said it is currently evaluating deals in the region and has already identified some land parcels. "I think if things work out, we should be having some land in NCR, some more so that the pipeline keeps maintained," the management said. Currently, there are three project launches planned in the region for FY26, its investor presentation showed.
The company has 25 project launches planned for FY26, with a total gross development value of INR 421.20 billion. The company has several projects upcoming and under planning in Hyderabad, including the Prestige Rock Cliff and Prestige Imperial Park, which are expected to start in FY26.
During the year ended March, the company saw sustained robust performance in its non-residential segments. Its total leasing under the office portfolio for FY25 was 4.1 million square feet, with 90% occupancy. In the retail segment, the company saw a growth turnover of INR 22.64 billion across its malls with 99% occupancy and 18 million footfalls. Going forward, the company said it does not see any red flags concerning demand or footfall.
On the joint project planned with Valor Estate Ltd. and its subsidiaries, the management said it expects to complete the project in three to three and a half years. Prestige Thursday said it has entered into an agreement with Valor Estate and its wholly-owned subsidiaries to jointly develop a project on around 21,978.22 square metres, with a total leasable area of around 1.50 million square feet and gross development value of around INR 45 billion. Valor Estate and Prestige Estates will have a 50% financial interest in the project. The companies will form a special purpose vehicle for the development of the project, with Prestige infusing INR 5.04 billion into the special purpose vehicle, the company had said.
Friday, shares of the company ended at INR 1,466.60 on the National Stock Exchange, down 2.3% from the previous close. The stock has risen over 2% in seven days and almost 7% in 30 days. End
Edited by Saji George Titus
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