Prestige Estates Q3 Results: Profit Plummets 85% to Rs 17.70 Crore
Prestige Estates Projects Ltd., a prominent real estate developer, has reported a significant decline in its consolidated net profit for the third quarter of fiscal year 2025 (Q3 FY25). The company's profit fell by 85% year-on-year, primarily impacting its overall financial performance.
Financial Performance Overview
For the quarter ended December 2024, Prestige Estates reported a consolidated net profit of Rs 17.70 crore, a substantial decrease from Rs 116.30 crore in the same period last year. Revenue for the quarter also declined by 7.9% to Rs 1,654.50 crore, compared to Rs 1,795.80 crore in Q3 FY24.
Key Financial Highlights (Consolidated, YoY)
- Revenue: Decreased by 7.9% to Rs 1,654.50 crore from Rs 1,795.80 crore.
- EBITDA: Increased by 7% to Rs 590.10 crore from Rs 551.50 crore.
- Margin: Improved to 35.7% from 30.7%.
- Net Profit: Declined by 85% to Rs 17.70 crore from Rs 116.30 crore.
Despite the sharp decline in net profit, Prestige Estates witnessed a 7% increase in EBITDA, reaching Rs 590.10 crore. The company's margin also improved to 35.7% from 30.7% in the year-ago period.
Shares of Prestige Estates closed 1.64% higher at Rs 1,342.35 apiece on the NSE, outperforming the benchmark Nifty 50, which advanced by 0.37%.
Prestige Estates' Q3 FY25 results reflect a challenging quarter for the real estate developer, marked by a significant decline in net profit despite an improvement in EBITDA and margin. The company's performance underscores the current dynamics within the real estate sector.
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