Prestige Estates Projects kicked off the financial year with a bit of a mixed bag. While profit numbers barely moved, the company’s revenues and pre-sales saw a noticeable bump, suggesting there’s more going on beneath the surface.
In Q1 FY26, Prestige reported a net profit of ₹311.5 crore, up only slightly — about 1.5% — compared to last year’s same quarter. Not exactly thrilling on paper, but it doesn’t paint the full picture either.
Strong Revenue, Even Stronger Sales
Revenue for the quarter came in at around ₹2,468 crore, which is roughly 22% higher year-on-year. But the real eye-opener was pre-sales. The company clocked in over ₹12,000 crore in bookings, driven mostly by a huge response to their Ghaziabad township project. That’s more than four times what they managed in Q1 last year.
Someone from their sales team mentioned off the record that they didn’t quite expect the kind of rush they saw for the NCR launch. “The market was hot. We had buyers lining up from day one — mostly end-users, but also a good chunk of investors. We even had to stagger some of the releases.”
Pipeline and Expansion
The company’s not slowing down either. As of March 2025, Prestige had finished 302 projects covering about 193 million sq. ft. There are 130 more in the works — planned or already underway — covering over 200 million sq. ft across cities.
They also recently took over the remaining 40% in Apex Realty Ventures LLP, which basically gives them full control. The idea, from what it sounds like, is to streamline things internally and tighten the reins on project execution.
Eye on Hospitality: IPO in the Works
Another big step this quarter was Prestige filing to take its hospitality business public. The IPO will include a ₹1,700 crore fresh issue, and another ₹1,000 crore from existing shareholders cashing out part of their stake. It’s early days, but this move could bring more focus (and funding) to their hotel and resort expansion plans.
Ambitious Targets, But Realistic?
Looking forward, the group has set a sales target of ₹42,000 crore for FY26. That’s big — even by Prestige standards. A significant part of that will ride on the back of the Ghaziabad project, where they plan to pump in about ₹10,000 crore over six years.
Some in the industry think they might be stretching a bit, but others say the demand’s real — especially in NCR, where organized townships are still relatively rare.
What About the Stock?
Despite the record sales, the stock didn’t move much post-results. It floated around ₹1,610, which was more or less where it was before the numbers came out.
Analysts say the lukewarm reaction could be due to the low profit growth. Technically speaking, the charts are sending mixed signals too. The RSI is sitting in the 40s (neutral), and the MACD is still not giving a clear “buy” sign. Some brokerages, though, have kept their buy calls, with price targets in the ₹1,780 to ₹1,790 range.
Also read, Prestige Group Announces Iconic Luxury Hotel at Bengaluru Airport City
