Prestige Estates Projects (PRESTIGE) Q1 25/26 earnings summary

Executive summary

• Achieved record quarterly pre-sales of INR 12,126 crores (₹1,21,264 mn), up nearly 300% YoY, with 4,718 units sold across 9.55 million sq ft, reflecting strong demand and successful launches, especially in NCR.

• Highest-ever quarterly collections at INR 4,523 crores (₹45,227 mn), up 55% YoY, supporting robust cash flow and execution discipline.

• Completed maiden projects in Mumbai within 3.5 years and filed DRHP for Prestige Hospitality Ventures Limited.

• Office assets in Mumbai saw strong pre-leasing traction, with 1.14 mn sft leased in Prestige 101, BKC.

• Geographical sales mix shifted, with NCR contributing 59%, Bangalore 21%, Mumbai 12%, and Hyderabad 5%, marking a milestone in pan-India expansion.

Financial highlights

• Q1 FY26 consolidated revenue at ₹24,687 mn (+21.94% YoY); residential revenue recognized at INR 1,573 crores, with unrecognized revenue exceeding INR 50,000 crores.

• EBITDA margin at 35% on a portfolio level; Q1 EBITDA at ₹10,552 mn (margin 42.74%).

• PAT at ₹3,120 mn (+1.63% YoY, margin 12.64%).

• Area sold: 9.55 mn sft (+234% YoY); average realisation for apartments/villas ₹13,339/sft (+12% YoY).

• Free cash flow from operating activity for FY 2026 projected at INR 7,500–8,000 crores.

Outlook and guidance

• Pre-sales guidance for FY 2026 remains at INR 25,000–27,000 crores, with robust launch pipeline across Bangalore, NCR, Mumbai, Hyderabad, and Goa.

• Upcoming launches with a GDV of ₹4,35,572 mn planned, with 44.1 mn sft in the pipeline.

• Revenue recognition to accelerate as more projects complete, with INR 57,000 crores of revenue to be booked over the next 3–4 years.