Bangalore-based firm had posted a net profit of Rs 38.28 crore in the year-ago period.
Total income from operations also jumped more than two fold to Rs 559.72 crore during January-March quarter of last fiscal against Rs 202.12 crore in the corresponding quarter of the previous year.
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On consolidated basis, Prestige Estates' net profit rose to Rs 285.97 crore during 2012-13 fiscal from Rs 82.6 crore in the previous year.
The total income increased to Rs 2,011.16 crore during 2012-13 fiscal from Rs 1,086.46 crore in 2011-12.
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