This article first appeared on GuruFocus .
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Revenue:INR13,196 crore, a growth of 71% year on year.
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EBITDA:INR4,219 crore, up 43% year on year.
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PAT (Profit After Tax):INR1,312 crore, reflecting a growth of 113% year on year.
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EBITDA Margin:32%.
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PAT Margin:9.9%.
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Operating Cash Flow:Approximately INR7,100 crore, a 15% year-on-year increase.
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Annual Sales:Over INR30,000 crore, a growth of over 76% year on year.
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Sales Volumes:22.28 million square feet, a growth of 77% year on year.
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Collections:INR18,500 crore, a growth of 53% year on year.
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Launch GDV:Approximately INR27,000 crore.
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Occupancy Levels:92% in annuity business; 99% in retail portfolio.
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Warning! GuruFocus has detected 4 Warning Signs with BOM:533274.
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Release Date: May 22, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Prestige Estates Projects Ltd ( BOM:533274 ) achieved its highest ever annual sales of over INR30,000 crore, reflecting a growth of over 76% year on year.
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The company launched over 31 million square feet during the year with a launch GDV of approximately INR27,000 crore, demonstrating a robust development pipeline.
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Prestige Estates Projects Ltd ( BOM:533274 ) maintained healthy occupancy levels of 92% in its annuity business and 99% in its retail portfolio, indicating strong demand.
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The company reported a significant increase in revenue, standing at INR13,196 crore, a growth of 71% year on year.
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Prestige Estates Projects Ltd ( BOM:533274 ) generated a healthy operating cash flow of approximately INR7,100 crore, a 15% year-on-year increase, showcasing strong financial health.
Negative Points
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The company's EBITDA margin stood at 32%, which, while healthy, indicates a slower growth compared to revenue and sales growth.
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There is a deliberate strategy to delay leasing in certain projects like Mahalaxmi, which could impact short-term revenue from these assets.
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The company has a high net gearing ratio of 0.65x, which may raise concerns about financial leverage.
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There are potential risks related to regulatory approvals for new projects, which could delay launches and impact future sales.
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The company faces challenges in maintaining its EBITDA margin at the desired level due to legacy projects with lower margins and overhead costs.
Q & A Highlights
Q: Can you provide some insights into the current demand and business development environment? A: The quarter began strongly with the launch of Prestige Golden Grove in Hyderabad, achieving significant sales of INR2,300 crore. Overall, the momentum remains healthy across cities, and we expect it to continue. (Unidentified Company Representative)
Q: What are the financial results for the hospitality segment this year? A: The hospitality vertical achieved a top line of INR1,050 crore and an EBITDA of approximately INR400 crore after deducting corporate overheads. At the hospitality level, EBITDA was close to INR440 crore for the entire financial year. (Unidentified Company Representative)
Q: Could you provide guidance for next year's key parameters like presales and collections? A: We achieved phenomenal sales this year, growing from INR17,000 crore to INR30,000 crore. For the next year, we expect a growth of 15% to 20% in both presales and collections, contingent on launches and sales. (Unidentified Company Representative)
Q: What is the status of your commercial projects in BKC and Mahalaxmi? A: Rentals in BKC are strong, around INR360 per square foot. In Bangalore, rentals vary by location, ranging from INR60 to INR200+. The leasing strategy for Mahalaxmi is deliberate, as it is a unique product. We have committed about 400,000 square feet to top-notch clients at great rentals. (Unidentified Company Representative)
Q: How do you view the debt levels and future capital requirements? A: We are comfortable with the current net gearing of 0.65x. Future capital requirements will be managed through project launches and cash flows. We aim to keep debt levels within a 0.75x cap, with no significant spikes expected unless large acquisitions occur. (Unidentified Company Representative)
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
