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Informist, Thursday, May 21, 2026

 

By Shruti Nair

 

MUMBAI – Prestige Estates Projects Ltd. is expected to report a thirteen-fold year-on-year jump in its consolidated net profit for the March quarter on a low base and healthy pre-sales traction across new launches and existing projects. The real-estate developer's consolidated top line is also expected to rise sharply on year for the second quarter in a row, again on a low base. In the year-ago quarter, the company had to contend with delays in project approvals and deferment of launches.

 

The company's consolidated net profit for the March quarter is expected to rise a staggering 1209% on year to INR 3.27 billion, according to an average of estimates from six brokerages. This would mark the highest year-on-year growth in its bottom line in 19 quarters. Sequentially, the developer's net profit is expected to fall nearly 13%.

 

The highest estimate for the net profit is INR 6.54 billion from Nuvama Wealth Management Ltd. The lowest is INR 1.27 billion from Prabhudas Lilladher Pvt. Ltd. In the year-ago quarter, Prestige Estates had seen its net profit tumble 82% to INR 250 million.

 

The Bengaluru-headquartered company is expected to report a year-on-year jump of over 120% in its consolidated revenue for the quarter to INR 33.82 billion, according to the average of estimates. The highest estimate for revenue is INR 42.60 billion from Elara Securities Ltd. and the lowest is INR 25.86 billion from Prabhudas Lilladher. Most brokerages have attributed the jump to the company's healthy pre-sales figures driven by completion and recognition of projects. Kotak Securities Ltd. has factored in revenues from the company's residential segment and improved annuity earnings.

 

The company reported a 10% year-on-year rise in pre-sales during the March quarter to INR 76.97 billion, a fourth of its total pre-sales for the financial year 2025-26 (Apr-Mar). For the year, Prestige Estates reported a 76% jump in pre-sales collections, hitting an all-time high of more than INR 300 billion. The sales momentum has been consistent across new launches and current inventory with healthy contributions from key markets such as Bengaluru, Delhi-National Capital Region, Mumbai, Hyderabad, and Chennai. "With a robust pipeline of upcoming launches across geographies, we are optimistic about sustaining this momentum in the coming year," Irfan Razack, chairman and managing director, said in a press release in April.

 

The company's earnings before interest, tax, depreciation, and amortisation for the quarter are seen rising around 66% on year to INR 10 billion, according to the average of estimates. Sequentially, this represents a jump of nearly 15%. The EBITDA estimates range from a low of INR 7.3 billion from Elara Securities (India) Pvt. Ltd. to a high of INR 13.54 billion from Nuvama.

 

Despite the fantastic figures, most brokerages expect the company's EBITDA margin to contract in the March quarter. HDFC Securities Ltd. expects a 215 basis-point on-year fall in the margin while Motilal Oswal Financial Services Ltd. sees it contracting by a massive 490 bps.

  

All seven research reports on the company available with Informist have a "buy" or equivalent recommendation on the stock with an average target price of INR 1,932. This is nearly 40% higher than the current market price.

 

Prestige Estates will report its March quarter earnings Thursday. The stock is down nearly 5% since the company reported its December quarter earnings in January. Wednesday, the shares closed at INR 1,387.80 on the National Stock Exchange, up nearly 1% from Tuesday.

 

Following are the Jan-Mar earnings estimates, in INR billion, for Prestige Estates Projects from six brokerages in descending order of the net profit estimate:

 

Brokerage	Net Sales	Net Profit	EBITDA
Nuvama Wealth Management Ltd.	36.86	6.54	13.54
Kotak Securities Ltd.	34.18	3.69	10.66
HDFC Securities Ltd.	35.24	3.56	11.72
Elara Securities (India) Pvt. Ltd.	42.60	2.30	7.30
Motilal Oswal Financial Services Ltd.	28.20	2.28	8.60
Prabhudas Lilladher Pvt. Ltd.	25.86	1.27	8.49
Average	33.82	3.27	10.05

 

End

 

Edited by Rajeev Pai

 

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