PRESTIGE · Realty
Prestige Estates Projects Ltd. reported revenue of ₹1,796 cr for October to December 2023, — on the year and −19.7% on the quarter.
Operating profit (EBITDA) was ₹535 cr, a margin of 29.8%, — on the year and +363 bps on the quarter.
Net profit was ₹165 cr, — on the year and −81.9% on the quarter, with earnings per share of ₹2.90.
Real estate revenue is booked when projects complete, so the quarterly statements lag the business; pre-sales and collections show where it actually is. The quarterly statements do not carry pre-sales, collections and launches; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,796 cr | ₹2,164 cr | ₹1,862 cr | ₹2,304 cr | ₹1,654 cr | ₹1,528 cr | ₹2,307 cr | ₹2,432 cr | ₹3,873 cr | ₹4,074 cr | ₹2,675 cr | ₹2,060 cr |
| YoY | — | — | +11% | +3% | −8% | −29% | +24% | +6% | +134% | +167% | +16% | −15% |
| EBITDA margin | 29.8% | 38.3% | 42.1% | 26.9% | 35.2% | 34.6% | 38.0% | 37.4% | 22.2% | 24.8% | 31.7% | 45.0% |
| Other income, % of PBT | 74% | 34% | 40% | 65% | 56% | 70% | 37% | 48% | 13% | 17% | 44% | 45% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 31% | 25% | 25% | −28% | 58% | 51% | 29% | 22% | 12% | 29% | 26% | 30% |
| Net profit | ₹165 cr | ₹236 cr | ₹307 cr | ₹235 cr | ₹32.0 cr | ₹43.0 cr | ₹312 cr | ₹457 cr | ₹245 cr | ₹292 cr | ₹271 cr | ₹256 cr |
| YoY | — | — | −3% | −74% | −81% | −82% | +2% | +94% | +666% | +579% | −13% | −44% |
| Core profit YoY | — | — | +108% | −56% | −45% | −87% | +13% | +378% | +612% | +1,219% | −26% | −35% |
| EPS | ₹2.90 | ₹3.49 | ₹5.80 | ₹4.46 | ₹0.41 | ₹0.58 | ₹6.79 | ₹9.99 | ₹5.17 | ₹5.81 | ₹5.48 | ₹5.20 |
| Flags | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 1 | 3 | 2 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Prestige Estates Projects Ltd. reported revenue of ₹1,796 cr (— on the year) and net profit of ₹165 cr (— on the year) for October to December 2023.
1 check raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
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