MUMBAI–Indian real estate developer Prestige Estates Projects Limited reported a nearly 48% decline in consolidated net profit for the second quarter of fiscal 2027, as revenue fell despite an improvement in operating margins.
The Bengaluru-based company posted a consolidated net profit of Rs 224 crore for the quarter ended September 2026, down 47.9% from Rs 430 crore in the same period a year earlier, according to a regulatory filing Thursday.
Revenue declined 15.3% year over year to Rs 2,060 crore, compared with Rs 2,432 crore in the corresponding quarter of fiscal 2026.
Despite the weaker revenue and profit figures, the company’s operating performance showed improvement.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 1.8% to Rs 926 crore from Rs 910 crore a year earlier.
Prestige Estates also reported an improvement in its EBITDA margin, which rose to 45% from 37% in the comparable quarter last year.
The higher operating margin indicates that the company maintained stronger profitability at the operating level even as overall revenue declined.
Founded in 1986, Prestige Estates is one of India’s major real estate developers, with operations spanning residential housing, commercial properties, retail developments and hospitality projects.
Headquartered in Bengaluru, the company operates across several major Indian real estate markets, including Chennai, Hyderabad, Mumbai, Kochi, Goa and the Delhi-National Capital Region.
Under Chairman and Managing Director Irfan Razack, Prestige Estates has developed a portfolio that includes residential communities, office complexes, technology parks, shopping malls, hotels and integrated townships.
Its commercial real estate operations include information technology parks and office properties, while its retail portfolio is associated with the Forum shopping mall brand.
The company also maintains business interests in hospitality, property management and warehousing.
Prestige Estates has completed millions of square feet of residential and commercial developments and continues to pursue a pipeline of projects across major Indian cities.
Shares of Prestige Estates Projects Limited closed 3.45% lower at Rs 1,632.45 on the Bombay Stock Exchange ahead of the earnings announcement.
The quarterly results highlight a divergence between the company’s declining net earnings and improving operating margins, with profitability under pressure despite relatively stable operating earnings. (Source: IANS)
