| Annual Sales FY26 | ₹30,000 Cr76% YoY Growth |
|---|---|
| Market Cap | ₹61,073 CrRealty Sector |
| Revenue TTM | ₹12,685 CrOperating Income |
| RSI | 53.47Neutral Zone |
Key highlights
- Annual sales reached a record ₹30,000 Cr, representing a 76% year-on-year increase supported by robust launches.
- Maiden entry into the NCR market through a single residential project translated into sales exceeding ₹9,500 Cr.
- The company crossed the cumulative milestone of 200 million square feet completed across 300 projects since inception.
- A massive launch pipeline of approximately ₹58,000 Cr GDV is planned for the upcoming financial year across major metros.
- The hospitality vertical touched a top-line of ₹1,050 Cr with an EBITDA of approximately ₹440 Cr for the full year.
Financial Performance
Prestige Estates reported a robust financial performance for the full year ending March 31, 2026. Total revenue stood at ₹13,196 Cr, registering a growth of 71% year-on-year. EBITDA for the period reached ₹4,219 Cr, up 43% from the previous year, while Profit After Tax (PAT) surged by 113% to ₹1,312 Cr.
The company maintained an EBITDA margin of 32%, though management noted a temporary lag in margin recognition compared to sales velocity due to accounting systems and legacy project completions in Mumbai. Operating cash flows remained strong at approximately ₹7,100 Cr, reflecting disciplined execution and collection efficiency.
Operational Milestones and Segment Growth
- Sales volumes grew 77% year-on-year to 22.28 million square feet during FY26.
- Collections for the year crossed ₹18,500 Cr, reflecting a strong 53% growth compared to the previous fiscal.
- Annuity portfolio maintained a healthy occupancy level of 92%, driven by demand from Global Capability Centres (GCCs).
- The retail segment demonstrated near-full occupancy at 99%, supported by strong consumption-led growth across assets.
- Geographic diversification strategy is yielding results, with Bangalore, NCR, and Mumbai contributing significantly to the sales mix.
Management Outlook and Future Guidance
Looking ahead, the management has provided a growth guidance of 15% to 20% for presales and collections in FY27, acknowledging the high base established in the current year. The company plans to deploy approximately ₹10,000 Cr on residential development and ₹4,000 Cr to ₹4,500 Cr on capital expenditures. To fuel this growth, Prestige Estates added projects with a Gross Development Value (GDV) of over ₹50,000 Cr during FY26.
Management emphasized a strategy of building and leasing out commercial assets before exploring monetization options through a potential REIT or IPO to unlock capital.
Sector Dynamics and Strategic Focus
Our performance was well-diversified geographically with Bangalore, NCR and Mumbai continuing to contribute meaningfully to overall sales. Importantly, we also continue to see healthy realization growth across both apartments and plotted developments.
What to Watch
- Progress on the Noida master plan approval and the subsequent launch of the Bougainvillea project.
- Timing of the Grand Opening for the Delhi Aerocity hospitality and office project expected around Diwali.
- Execution and sales velocity of the ₹58,000 Cr GDV launch pipeline scheduled for the next 12 months.
- Management of debt-equity levels, which are currently capped at a peak of 0.75x.
“We delivered our highest ever annual sales of over INR30,000 crores, reflecting a growth of over 76% year-on-year, supported by robust launches across key geographies.”
“In the hospitality vertical, we touched a top-line of INR1,050 crores and EBITDA of close to INR400 crores after deducting even the corporate overheads.”
| Share price | ₹1417.9 |
|---|---|
| Market capitalisation | ₹61,073.24 Cr |
| Revenue (annual) | ₹7,349.40 Cr |
| Net profit (annual) | ₹467.50 Cr |
| Revenue (latest quarter) | ₹4,073.80 Cr+5.20% vs previous quarter |
| Net profit (latest quarter) | ₹250.10 Cr+12.35% vs previous quarter |
| P/E (TTM) | 51.09×Sector 35.63× |
| Promoter holding | 60.94%0.00% QoQ |
| FII holding | 14.2%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Earnings conference call transcript of Prestige Estates Projects Limited for the quarter and financial year ended March 31, 2026. Market figures from a third-party data provider.
