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Informist, Tuesday, Jan. 27, 2026

By Simran Rede

MUMBAI – The December quarter net profit of Prestige Estates Ltd. is likely to skyrocket on a low base, driven by higher revenues from its residential business, healthy pre-sales, and a pick-up in launches. The growth in its bottom line is seen soaring to an 18-quarter high and the revenue growth is expected to jump to its highest level in 24 quarters. 

The real estate company's consolidated net profit for the December quarter is seen rising nearly 24 times to INR 4.23 billion, according to the average of estimates from five brokerages. Its net profit had more than doubled in the previous quarter but rose just 1.5% in Apr-Jun. It had contracted for five quarters before that. Estimates for the company's net profit range from INR 6.90 billion by Elara Securities (India) Pvt. Ltd. to INR 2.53 billion by Motilal Oswal Financial Services Ltd.

In the year-ago quarter, the company's net profit had fallen 85% on year to INR 177 million, driven by a sharp decline in other income. The company's other income had fallen 75% on year to INR 434 million.

The Bengaluru-based company's revenue for the December quarter is expected to increase nearly 95% on year to INR 32.19 billion, according to the average of estimates. The highest estimate for revenue is INR 48.63 billion by Elara Securities and the lowest is INR 24.80 billion by HDFC Securities Ltd. Neither brokerage gave specific reasons for their high or low revenue estimates.

On a sequential basis, the company's net profit is likely to fall about 2%, alongside a probable 32% increase in revenue. 

Prestige Estates is a real estate developer focused on diverse projects, including residential properties such as apartments, villas, and townships, as well as golf courses, commercial office parks, and IT campuses. It operates malls under the retail segment and hotels and resorts under the hospitality vertical. 

The company said its December quarter pre-sales rose 39% on year to INR 41.84 billion, helped by higher sales volume and realisation. This brought pre-sales for Apr-Dec to INR 223.27 billion — more than double the same period last year. 

Nuvama Wealth Management Ltd. projects a pickup in launches during the quarter. The company's business update showed that it launched three projects – one each in Hyderabad, the National Capital Region, and Mumbai – during the quarter, totalling a developable area of over 5 million square feet. The company's collections for the quarter were up 40% on year at INR 45.48 billion. Motilal Oswal sees a 55% rise in the company's bookings at INR 46.70 billion.

Prestige Estates is expected to report consolidated earnings before interest, tax, depreciation, and amortisation of INR 10.23 billion. The estimates for consolidated EBITDA range from INR 7.57 billion from Motilal Oswal to INR 13.52 billion from Elara Securities. HDFC Securities sees a 56% on-year rise and a just 1% on-quarter gain on the metric to INR 9.22 billion. 

The company's EBITDA margin for the December quarter is expected to expand 152 basis points on year but contract 23 bps on quarter to 37%, according to HDFC Securities. Motilal Oswal has a slightly more modest estimate for the EBITDA margin, expecting it to be 26.8% in the reporting quarter. The company's operating margin was 35.7% in the year-ago quarter.

Tuesday, shares of Prestige Estates closed 0.2% higher at INR 1,392 on the National Stock Exchange. The stock has fallen nearly 21% from its Nov. 13 closing price, a day after Prestige Estates released its September-quarter earnings after market hours. The five brokerage reports on the company available with Informist have a 'buy' or equivalent recommendation for the stock with a target price of INR 2,026, implying a 46% upside potential from the current price. The company will detail its December quarter earnings Thursday.

The following are the December quarter earnings estimates for Prestige Estates from five brokerage firms in descending order of the estimate of net profit in INR billion:

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Edited by Saji George Titus

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