Earnings Review
Prestige Estates Q1 PAT grows on deferred tax benefit
This story was originally published at 21:42 IST on 5 August 2025
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--Prestige Estates Apr-Jun consol net profit INR 2.93 bln
--Analysts saw Prestige Estates Apr-Jun consol net profit INR 1.93 bln
--Prestige Estates Apr-Jun consol PAT INR 2.93 bln vs INR 2.33 bln yr ago
--Prestige Estates Apr-Jun consol revenue INR 23.07 bln vs INR 18.62 bln
--Prestige Estates received deferred tax of INR 1.33 bln in Apr-Jun
By Shakshi Jain
NEW DELHI – Prestige Estates Projects Ltd. Tuesday posted a growth in consolidated net profit for the June quarter after six consecutive quarters of year-on-year decline, helped by substantial deferred tax-related benefit of INR 1.33 billion. The company's consolidated revenue also registered its best year-on-year performance in seven quarters. Both the bottom line and top line of the company for the quarter surpassed analysts' consensus estimates.
The Bengaluru-headquartered realty major reported a consolidated net profit of INR 2.93 billion for the June quarter, up nearly 26% on year and 11.7 times sequentially. Analysts had expected Prestige Estates to post a bottom line of INR 1.93 billion.
A substantial portion of the benefit tied to deferred tax in the June quarter came due to the change in long-term tax rate on capital gains to 12.5% from 20.0% earlier. "Pursuant to such amendment, the Group had remeasured the carrying value of deferred tax relating to capital gains and accounted for reduction in deferred tax liability amounting to Rs.991 million through statement of profit and loss for the year ended 31 March 2025," the company said in its filing with the exchanges.
The company's consolidated revenue grew almost 24% on year and nearly 51% sequentially to INR 23.07 billion in Apr-Jun. This was much higher than the INR 18.36 billion expected by analysts. Other income of the company fell marginally on year to INR 1.61 billion in Apr-Jun.
Total expenses of the company in the June quarter rose almost 26% on year to INR 20.14 billion, led by a near 74% jump in contractor cost at INR 13.53 billion. Meanwhile, land cost of the company for the three months grew 47% on year to INR 11.34 billion and finance costs grew almost 11% to INR 3.84 billion. However, other expenses declined by more than 9% on year to INR 5.03 billion. The company's total tax expense for the quarter was INR 1.27 billion, up over 24% on year.
Tuesday, shares of the company closed at INR 1,608.90 on the National Stock Exchange, down 1.5% from the previous close. The company announced its earnings after market hours. End
Edited by Ashish Shirke
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