Prestige Estates Projects' Net Profit Dips 80.45% In Q3 Fy25

Prestige Estates Projects' net consolidated income stood at Rs 1,697.90 Crores in the same quarter last year. The net profit stood at Rs 116.3 Crores in the year-ago period.

The Total income fell to Rs. 1,697.9 Crores in the 3rd quarter of this fiscal year from Rs. 1,970.50 Crores in the previous year. There was an absence of new launches during that quarter Q3. But Prestige Group achieved sales of Rs. 3,013.5 Crores in Q3, FY25. It was over a total area of 2.23 million sq ft that was sold across 888 units.

The realisation for the period stood at Rs. 13,128 per sq ft. But the collections remained strong at Rs. 8,910.9 Crores. Prestige Estates MD Irfan Razack said that it was a modest quarter. There were no new launches and limited handovers were there due to local bottlenecks regarding e-khata. But they achieved Rs 3,000+ Crores in sales. It demonstrated the strength of their brand and their product portfolio.

The real estate company maintained a strong pricing, with an average realisation of Rs 13,684 per sq ft. It recorded healthy collections of Rs 3,257.5 Crores during the December quarter. For the nine months in 2024, the company reported total sales of Rs. 10,065.7 Crores. It was over 8.09 million sq ft area that was sold across 3,618 units.

Prestige Group is optimistic about the upcoming project launches. A large of their projects are in the final stages of approval. They are expected to be launched soon in 2025. They have launched a lot of high-velocity projects. It is located across prime areas. It will drive significant sales volumes and help to regain their momentum. They have completed 302 projects spanning over an area of 193 million sq ft.

Prestige Group still has 59 projects under development across 101 million sq ft. They have 65 projects under planning across 96 million sq ft. They are the leading top real estate developers in India who will have good profits in the coming years.

Prestige Group prelaunch new project is Prestige Spring Heights