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Prestige Estates Q1FY26 results: Profit up 1.46%, revenue grows 21.94%
The company posted revenue of Rs 2,468.7 crore during the period, up 21.94 per cent from Rs 2,024.5 crore in the same quarter last year.
In a recent development, Prestige Estates Projects — directly and through its wholly owned subsidiary — acquired an additional 40 per cent partnership interest in Apex Realty Ventures LLP. Following this acquisition, Apex Realty Ventures LLP has become a wholly owned subsidiary, the company said in a filing to the BSE.
Prior to this transaction, Prestige held a 60 per cent stake in Apex Realty Ventures.
On the expansion front, Prestige Estates Projects plans to invest around Rs 10,000 crore over the next six years to develop a 62.5-acre township in Ghaziabad, Uttar Pradesh. This project marks its entry into the Delhi–NCR housing market and was announced in April this year. The company is also developing a commercial project in Delhi's Aerocity, which includes hotels and office spaces.
In June, the company announced its intention to launch multiple residential projects across major cities in the current fiscal year, targeting an estimated revenue of over Rs 42,000 crore. The expansion aims to capitalise on strong consumer demand in the housing sector.
The upcoming projects are planned for key markets including Bengaluru, Chennai, Hyderabad, Mumbai, Delhi–NCR, and Goa.
The company announced its results post market hours on Tuesday. At the time, Prestige Estates Projects shares were trading at Rs 1,608.05 apiece, up 0.13 per cent on the BSE.
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