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Informist, Thursday, Jul. 30, 2026

By Ashutosh Pati and Astha Oriel

MUMBAI/NEW DELHI – Prestige Estates Projects Ltd. sees the December quarter as a huge one for the company owing to the launch of several planned projects during the quarter. This includes two projects in Delhi and one in Mumbai, its management said Thursday in the post-earnings conference call with analysts. The company has around INR 450 billion of launch pipeline for the year still pending.

These include Park Street in Chennai and Prestige Chamber 51 in Mumbai, both of which will be launched next quarter. Other projects to be launched in the December quarter are Prestige Meadows and Prestige Bougainvillea Gardens, the management said. "...this quarter (Jul-Sept) we plan to launch four projects in Bangalore, which is the Prestige A1, Prestige Battersea, and the Prestige Garden Breeze. These are all under approval. We should get all the approvals in maximum eight or ten days' time, after which we will launch that," the management said.

Prestige Estates will launch four projects in Bengaluru this quarter. The management said Pune has been on the company's "radar" for some time, and they should acquire some launch projects there very soon. "Pune is a city that we are looking at very seriously," management added. The company remains bullish on the National Capital Region market since it already showed great numbers in last financial year. "...we have locked in three (projects) and then maybe one or two more will keep coming as we go along (in NCR)," they said.

The company expects its gross collections for the financial year 2026-27 (Apr-Mar) to be INR 250 billion, with residential collections seen between INR 210 billion to INR 220 billion.

Prestige Estates' earnings before interest, tax, depreciation, and amortisation fell over 3% on year to INR 10.20 billion for the June quarter. Its EBITDA margin for the quarter was 36.97%, according to its investor presentation for the quarter. When asked why the margins were weaker for the quarter, the management said it was because of a mismatch in the revenue recognition. "...if you see the portion of residential in the market, we have reported a residential profit of (INR 16 bln) 1,600 crores. This was mainly because during the quarter we didn't have any major completions because of which the handovers were lower and the reported residential numbers were lower. But my fixed costs remain the same. In fact, it increases because we are planning heavy launches in Q2 as well as Q3. So because of the mismatch in revenue recognition, my reported margin is a little lower. But if you see at the project level margins, it remains the same," a top official said.

Answering an analyst's question about media reports saying the company's hospitality unit's initial public offering was put on hold, and it was exploring a minority stake sale to private equity investors, the management said they did not have any new updates about it apart from teams working on various options.

The company's average sales realisations for Hyderabad were INR 8,000-INR 10,000 per square foot for the June quarter. It also witnessed a rise in costs due to higher crude oil prices and the war in West Asia.

Prestige Estates reported a consolidated net profit of INR 2.36 billion for the June quarter on revenues of INR 26.75 billion. Thursday, its shares ended at INR 1,594.80 on the National Stock Exchange, down 4.7% from Wednesday.  End

Edited by Akul Nishant Akhoury

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