Prestige Estates Projects (PRESTIGE) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 saw stable operating performance across all business segments, with robust collections and diversified sales geographically, though there was a significant YoY decline in sales and area sold.

• Residential pre-sales reached INR 6,579 crore, with 6 million sq ft sold across 337 units; Hyderabad led with 49% of sales, followed by Bangalore, Mumbai, NCR, and others.

• Four new projects launched totaling 20.16 million sq ft and a GDV of INR 12,000 crore; three projects completed with 4.37 million sq ft.

• Geographical diversification remains strong, with Bengaluru, Mumbai, and Hyderabad contributing the majority of sales.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved by the Board on July 29, 2026.

Financial highlights

• Revenue for Q1 FY27 was ₹28,356 million, up 14.86% YoY; consolidated net profit was ₹2,714 million, down 13.01% YoY.

• EBITDA stood at ₹10,201 million (down 3.33% YoY), with an EBITDA margin of 36.97%.

• Average realization for apartments was INR 11,193 per sq ft, influenced by Hyderabad's sales mix.

• Net debt as of June 30, 2026, was ₹119,150 million, with a debt/equity ratio of 0.69 and average cost of debt at 9.31%.

• Customer collections stood at INR 4,802 crore for the quarter.

Outlook and guidance

• Confident in achieving 15%-20% pre-sales growth for FY27, supported by a strong launch pipeline of INR 45,000 crore and projected annuity income from commercial and retail assets set to grow at a CAGR of 39% and 32% respectively.

• Residential collections for FY27 expected at INR 21,000-22,000 crore; total gross collections across verticals projected at INR 25,000 crore.

• Free cash flows anticipated at INR 8,500-9,000 crore, sufficient to cover CapEx and business development spends.

• Prestige Hospitality Ventures Limited has filed a Draft Red Herring Prospectus for a proposed IPO, with an offer for sale up to Rs. 10,000 million and a fresh issue up to Rs. 17,000 million.