Prestige Estates' Q3 result: Sales fall 43% amid absence of new launches

The company's revenue from operations also declined by 7.9 per cent YoY

Bengaluru-based realty firm Prestige Estates on Friday reported a significant 43.42 per cent year-on-year (Y-o-Y) drop in its sales for the third quarter of financial year 2025 (Q3FY25), as the company did not launch any new project during the three-month period.

 

The company’s sales for the quarter under review stood at Rs 3,013.5 crore as it sold 888 units with an area of 2.23 million square feet (msf).

 

Commenting on the performance, Irfan Razack, chairman and managing director, Prestige Group said, “It was a modest quarter, with no launches and limited handovers due to local bottlenecks regarding e-Khata. Despite this, we achieved Rs 3,000+ crores in sustenance sales, demonstrating the strength of our brand and product portfolio.”

 

E-khata is the Bruhat Bengaluru Mahanagara Palike’s digital property certificate that maintains property details, aiming for ease in transactions.

 

Further, the company’s revenue from operations also declined by 7.9 per cent year-on-year (Y-o-Y) to Rs 1,654.5 crore, far behind the street estimate of Rs 2,449.6 crore.

 

The company’s profit attributable to the shareholders of the company stood at Rs 17.7 crore, down 84.8 per cent Y-o-Y. The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) also declined by 12.77 per cent Y-o-Y, to Rs 633.5 crore.

 

However, Razack is optimistic about the upcoming launches.

 

“Several of our large projects are in the final stages of approval and are expected to be launched in the next few weeks. These high-velocity projects, located across prime geographies, should drive significant sales volumes and help us regain momentum,” he added.