Prestige Estates Projects Limited (NSE: PRESTIGE, BSE: 533274) has reported its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024. The results were approved in a board meeting held on January 30, 2025.
Key Financial Highlights (Standalone)
(Rs. in Million)
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
7,100
11,783
5,787
22,854
20,734
26,512
Other Income
1,141
790
308
2,647
1,646
2,547
Total Income
8,241
12,573
6,095
25,501
22,380
29,059
Net Profit
1,317
184
111
1,693
1,791
2,458
Earnings Per Share (Basic & Diluted)
3.06
0.45
0.28
4.09
4.47
6.13
Debt
32,508
32,793
32,104
32,508
32,104
37,543
Net Worth
1,18,408
1,17,104
67,675
1,18,408
67,675
68,347
Net profit for the quarter surged to Rs. 1,317 million, supported by strong operational performance and an exceptional gain of Rs. 1,104 million from a Business Transfer Agreement.
Key Financial Highlights (Consolidated)
(Rs. in Million)
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
16,545
23,044
17,958
58,210
57,131
78,771
Other Income
434
1,194
1,747
3,252
14,797
15,482
Total Income
16,979
24,238
19,705
61,462
71,928
94,253
Net Profit
322
2,346
1,647
5,738
13,928
16,287
Earnings Per Share (Basic & Diluted)
0.41
4.70
2.90
10.70
30.78
34.28
Debt
1,03,010
1,01,693
99,213
1,03,010
99,213
1,14,623
Net Worth
1,56,655
1,65,520
1,11,486
1,56,655
1,11,486
1,12,888
Revenue from operations stood at Rs. 16,545 million, impacted by lower project deliveries in Q3 FY25 compared to Q2 FY25. However, net profit attributable to shareholders was Rs. 177 million due to a sharp drop in other income.
Segment Performance
The company continues to operate primarily in the real estate development sector, with no additional segment disclosures required under Ind AS 108.
Corporate Announcements
Prestige Estates Projects Limited acquired additional stakes in four subsidiaries, making them wholly owned entities: K2K Infrastructure (India) Pvt. Ltd. Prestige Garden Estates Pvt. Ltd. Apex Realty Management Pvt. Ltd. Prestige Acres Pvt. Ltd.
Stake in Prestige Projects Pvt. Ltd. increased to 76%.
A Business Transfer Agreement (BTA) was signed with Prestige Hospitality Ventures Ltd., transferring a business undertaking for Rs. 3,130 million, resulting in a gain of Rs. 1,104 million, disclosed as an exceptional item.
Issued 29.86 million equity shares via a Qualified Institutional Placement (QIP) at Rs. 1,674 per share, raising Rs. 50,000 million. As of December 31, 2024, Rs. 40,505 million has been utilized, with Rs. 9,848 million remaining in bank accounts.
Key Management Commentary
Irfan Razack, Chairman & Managing Director, Prestige Estates Projects Limited, stated: "Our performance in Q3 FY25 reflects the resilience of our operations despite market challenges. The strategic acquisitions and the business transfer transaction have strengthened our balance sheet. With our ongoing projects and strong execution capabilities, we remain confident about sustained growth in the upcoming quarters.”
Strategic Outlook
Expansion into new projects remains a priority, with a strong pipeline in key metropolitan cities.
The company is closely monitoring pending legal claims (Rs. 923 million) related to a landowner dispute, ensuring no financial adjustments until a final verdict is reached.
With debt at Rs. 1,03,010 million and a debt-equity ratio of 0.66, the company remains focused on maintaining a healthy leverage position.
Conclusion
Prestige Estates Projects Limited has delivered a strong Q3 FY25 performance, with key business acquisitions, a successful QIP, and robust revenue generation. While profit margins faced short-term pressure, the company’s strong execution and financial prudence continue to position it for long-term growth. Investors and stakeholders can access the full financial results on the company’s official website and stock exchange portals.
Net profit for the quarter surged to Rs. 1,317 million, supported by strong operational performance and an exceptional gain of Rs. 1,104 million from a Business Transfer Agreement.
Revenue from operations stood at Rs. 16,545 million, impacted by lower project deliveries in Q3 FY25 compared to Q2 FY25. However, net profit attributable to shareholders was Rs. 177 million due to a sharp drop in other income.
Investors and stakeholders can access the full financial results on the company’s official website and stock exchange portals.