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

Executive summary

• Q1 FY27 saw stable operating performance, with robust collections and diversified sales, but a significant YoY decline in sales and area sold.

• Residential pre-sales reached INR 6,579 crore (₹65,793 mn), with 6 million sq ft sold; customer collections were INR 4,802 crore.

• Four new projects launched totaling 20.16 million sq ft and a GDV of INR 12,000 crore; Hyderabad led sales with 49% share.

• Three projects completed (4.37 million sq ft), with major launches in Hyderabad, Bengaluru, and Mumbai.

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

Financial highlights

• Consolidated revenue for Q1 FY27 was Rs. 28,356 million, up 14.86% YoY; standalone revenue was Rs. 7,490 million.

• EBITDA stood at Rs. 10,201 million (margin 36.97%), PAT at Rs. 2,714 million, and PBT at Rs. 3,657 million.

• Net debt as of June 30, 2026, was INR 11,900 crore (₹119,150 mn), with a debt/equity ratio of 0.69 and average cost of debt at 9.31%.

• Free cash flows for the year expected at INR 8,500–9,000 crore; marginal debt increase of INR 1,000–1,500 crore anticipated.

• Hospitality revenue for the quarter was INR 300 crore, with EBITDA margin at 41% and bottom-line contribution of INR 419 million.

Outlook and guidance

• Confident of achieving 15–20% pre-sales growth for FY 2027, supported by a robust launch pipeline of INR 45,000 crore.

• Residential collections for the year guided at INR 21,000–22,000 crore; total gross collections expected at INR 25,000 crore.

• Projected annuity income from commercial and retail assets is set to grow at a CAGR of 39% and 32% respectively, with significant step-ups expected by FY31.

• Launches in Q2 and Q3 expected to drive cash flow and reduce debt, with major launches planned in Bangalore, Chennai, NCR, and Mumbai.

• Prestige Hospitality Ventures Limited filed a DRHP 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.