NSE: PRESTIGE · BSE: 533274
PRESTIGE ESTATE LTD
Develops residential and commercial real estate across India, with a portfolio spanning housing, commercial office leasing, retail malls and a hospitality business that is being evaluated for monetization. In Q1 FY27, residential pre-sales reached Rs 65,793 mn covering 6.04 mn sqft and 3,337 units, with Hyderabad contributing 49%, Bengaluru 27%, Mumbai 12% and NCR 7% of pre-sales. The same quarter added 1.5 mn sqft of commercial leasing with exit rentals of Rs 7,560 mn, while retail malls reported gross turnover of Rs 7,370 mn on 5.2 mn footfalls. For FY26, the integrated annual report records sales of Rs 300,245 mn and collections of Rs 185,146 mn, and the BRSR lists real estate as 90.43% of revenue. Cost structure is dominated by materials at 98% of revenue, with employees at 7.9% and other opex at 22.6% of revenue. Capital deployment in Q1 FY27 included four new project launches with combined GDV of about Rs 1,20,000 mn, and a 50% stake acquisition in a commercial project in Andheri East for up to Rs 504 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Residential development, Commercial leasing, Retail malls, Hospitality. Asset-heavy, cyclical real estate developer and landlord.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,390 | 8,315 | 7,877 | 7,349 | 12,685 |
| EBITDA (ex other income) | 2,341 | 2,394 | 2,498 | 2,559 | 3,709 |
| margin % | 36.6 | 28.8 | 31.7 | 34.8 | 29.2 |
| Owners' profit | 1,150 | 942 | 1,374 | 468 | 1,196 |
| EPS, as reported (₹) | 28.69 | 23.49 | 34.28 | 11.19 | 27.76 |
| ROE % · ROCE % | 12.7 · 14.3 | 10.4 · 14.6 | 13.8 · 17.7 | 3.9 · 9.1 | 7.8 · 13.0 |
| Debt / equity (x) | 0.68 | 0.79 | 0.97 | 0.67 | 0.90 |
| Cash from operations | 2,140 | 1,540 | 1,297 | 131 | 3,223 |
| Capex | (2,270) | (1,650) | (1,907) | (1,583) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,304 | 1,655 | 1,528 | 2,307 | 2,432 | 3,873 | 4,074 | 2,675 |
| Profit before tax | 194 | 84 | 99 | 455 | 572 | 256 | 448 | 376 |
| Net profit | 235 | 32 | 43 | 312 | 457 | 245 | 292 | 271 |
| EPS (₹) | 4.70 | 0.41 | 0.58 | 6.79 | 9.99 | 5.17 | 5.81 | 5.48 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DLF LIMITED | 1,64,917 | 37.1 | 3.63 | 49.7 | 9.7 | 6.0 | 8.6 | 37.1 |
| LODHA DEVELOPERS LIMITED | 1,01,079 | 24.5 | 4.31 | 20.2 | 14.6 | 15.7 | 25.1 | 40.5 |
| THE PHOENIX MILLS LTD | 67,952 | 53.1 | 4.75 | 26.3 | 10.9 | 9.9 | 32.7 | 63.4 |
| PRESTIGE ESTATE LTD ◆ | 59,932 | 52.6 | 3.58 | 17.4 | 7.8 | 6.8 | 11.8 | 38.1 |
| OBEROI REALTY LIMITED | 58,212 | 19.1 | 3.25 | 16.8 | 14.0 | 15.5 | 24.0 | 61.1 |
| GODREJ PROPERTIES LTD | 47,804 | 29.9 | 2.47 | 22.0 | 9.5 | 11.4 | 46.3 | 107.7 |
| BRIGADE ENTER. LTD | 17,613 | 20.5 | 2.34 | 13.7 | 9.6 | 6.8 | 23.9 | 41.9 |
| ANANT RAJ LIMITED | 16,622 | 28.0 | 2.86 | 22.6 | 9.6 | 10.2 | 58.7 | 32.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 52.6 | 20.5 | 49 of 57 | 14% |
| P/B | 3.6 | 1.9 | 56 of 64 | 13% |
| ROCE | 6.8 | 6.4 | 33 of 66 | 51% |
| ROE | 7.8 | 8.0 | 33 of 64 | 49% |
| Debt / Equity | 0.9 | 0.4 | 55 of 64 | 14% |
| EBITDA margin | 38.1 | 29.6 | 21 of 66 | 69% |
| Revenue growth | 15.9 | 12.8 | 31 of 67 | 55% |
| Profit growth | (12.9) | 7.5 | 42 of 66 | 37% |
| Market cap | 59932 | 1781 | 4 of 67 | 96% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 quarter and half-year results | results | low | — | — |
| 23 Oct 2026 · Invesco Mutual Fund raises Prestige Estates stake above 5 percent | ownership changes | medium | — | — |
| 15 Oct 2026 · Prestige closes first tranche of CPPIB hospitality deal worth Rs 1500 crore | strategic transactions | high | — | — |
| 13 Oct 2026 · Prestige Q2 FY27: Rs 1.38L Cr H1 Pre-sales, CPP Deal for Hospitality | business updates | medium | — | — |
| 9 Oct 2026 · Invesco MF crosses 5% stake in Prestige Estates via open market | ownership changes | medium | — | — |
| 1 Oct 2026 · Bombay HC restores Turf View Project de-registration and promoter change | compliance | high | — | — |
| 30 Sept 2026 · Trading window closed ahead of Q2 results announcement | compliance | minimal | — | — |
| 29 Sept 2026 · CPP Investments buys 27% stake in Prestige Hospitality for INR 30 bn | compliance | low | — | — |
| 29 Sept 2026 · Prestige signs INR 3,000 Cr deal with CPP Investments for hospitality arm | strategic transactions | high | — | — |
| 29 Sept 2026 · Prestige Estates completes two Hyderabad residential projects, adds 1047 homes | compliance | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.