Prestige Estates Projects Ltd.'s consolidated net profit fell 3.4% in the first quarter of the current financial year, but beat analysts' estimates.
The real-estate developer's profit declined to Rs 307 crore in the quarter-ended June, in comparison to Rs 318 crore in the year-ago period. Analysts tracked by Bloomberg had set a consensus estimate of Rs 176.8 crore.
Prestige Q1 FY25 Highlights (Consolidated, YoY)
Revenue up 10.8% to Rs 1,862 crore (Bloomberg estimate: Rs 2,394.9 crore).
Ebitda up 51.2% to Rs 796 crore (Estimate: Rs 743.4 crore).
Margin expands to 42.8% versus 31.3% (Estimate: 31%).
Net profit down 3.4% to Rs 307 crore (Estimate: Rs 176.83 crore).
Shares of Prestige Estates closed 1.7% lower at Rs 1,816.45 apiece on the BSE, as compared to a 0.37% advance in the benchmark Sensex.
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