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Prestige Estates Projects Limited · Research view

Prestige Estates Projects Limited

NSE: PRESTIGEBSE: 533274ISIN INE811K01011Face value ₹10standalone
₹1,494
+0.82% · 2026-10-01 · 52-wk ₹1,127–₹1,785
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis

What stands out?

The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.

StrengthConcernWatchContext
StrengthTalking point

Profit outpacing revenue

Profit grew 111.6% while revenue grew 72.6%, so the company kept more of each rupee of revenue as profit.

Net profit growth+111.6%Revenue growth+72.6%

Importance 72 / 95 · growth

WatchTalking point

Sharp margin drop

EBITDA margin dropped 6.8 percentage points in a single year, from 40.1% to 33.3% — worth investigating.

Importance 71 / 95 · anomaly

WatchTalking point

Stock has run ahead of the business

Over 5 years the stock returned 25.4% a year while profit shrank 4.0% a year.

Net profit−4.0%/yrShare price25.4%/yr

Importance 62 / 95 · business vs stock

StrengthTalking point

Book value compounding

Net worth compounded at 21.3% a year over 7 years (₹4,339 → ₹16,740).

Importance 59 / 95 · financial health

Section 03 · The company

Who is this company?

Classified by the exchange under Consumer Discretionary › Realty › Realty › Residential, Commercial Projects.

Market cap
₹64,351 cr
FY2026 revenue
₹4,080 cr
FY2026 net profit
₹183 cr
Net worth
₹11,965 cr
Total debt
₹7,028 cr
EPS (basic)
₹4.25
Listed
NSE · BSE
Reporting
Ind-ASApr–Mar

Peer set used on this page: 6 residential, commercial projects.

Section 04 · Business performance

Is the business growing?

Revenue & net profit — FY19 to FY26₹ crore · consolidated
₹'000 cr01345011REVENUENET PROFIT2k289FY193k262FY204k213FY215k947FY224k341FY233k246FY243k187FY254k183FY26
RevenueNet profit
Strength

Profit grew 111.6% while revenue grew 72.6%, so the company kept more of each rupee of revenue as profit.

Rule PROFIT_FASTER_THAN_REVENUE

Revenue growth per year
+7.6%over 7 years
Revenue growth
+42.0%vs last year
Net profit growth
−1.8%vs last year
Change in net profit since FY19
−37%

Revenue grew 72.6% but EBITDA margin fell 6.8 percentage points to 33.3%, so the company kept less of each rupee of revenue as operating profit.

Profit has swung sharply over 7 years (from ₹442 to ₹1,629) — one year is a weak guide to the earnings power.

Revenue compounded at 13.7% a year over 7 years (₹5,172 → ₹12,685) — though FY2026 saw a one-off step-change of 73% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.

Net profit rose 111.6% to ₹1,305 — but FY2025 was a depressed ₹617 (vs a ~₹1,141 historical norm), so this is a recovery. Profit has compounded 16.7% a year over 7 years.

Revenue grew 72.6% year on year (FY2025 → FY2026).

Section 05 · Recent activity

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

Concern

Q1 FY27 EBITDA margin was 38.1%, down 7.60 percentage points from 45.7% a year earlier.

Rule QTR_MARGIN_CHANGED_YOY

Watch

Q1 FY27 net profit declined 12.9% while revenue grew 15.9% vs the same quarter last year — a gap of 28.8 percentage points.

Rule QTR_PROFIT_VS_REVENUE_GROWTH

Strength

Q1 FY27 revenue was ₹2,675 cr, up 15.9% from ₹2,307 cr in Q1 FY26 a year earlier.

Rule QTR_REVENUE_GROWTH_YOY

A. Quarterly results

Latest quarters — Q2 '25 to Q1 '27₹ crore · consolidated
₹'000 cr01345001REVENUENET PROFIT2k235Q2 '252k32Q3 '252k43Q4 '252k312Q1 '262k457Q2 '264k245Q3 '264k292Q4 '263k271Q1 '27
RevenueNet profit
QuarterRevenueYoYNet profitYoYNet margin
Q2 FY252,304—235—10.2%
Q3 FY251,655−7.9%32−80.4%1.9%
Q4 FY251,528−29.4%43−81.7%2.8%
Q1 FY262,307+23.9%312+1.5%13.5%
Q2 FY262,432+5.5%457+95.0%18.8%
Q3 FY263,873+134.1%245+659.9%6.3%
Q4 FY264,074+166.5%292+577.0%7.2%
Q1 FY272,675+15.9%271−12.9%10.1%

B. TTM snapshot

Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters

Revenue
₹13,053 crTTM
EBITDA
₹4,184 crTTM
EBIT
₹3,269 crTTM
PBT
₹1,652 crTTM
Net profit
₹1,265 crTTM

C. Corporate actions

13 Aug 2026DividendFinal Dividend - Rs. - 2.0000 — ₹2.00/share
3 Sept 2025DividendFinal Dividend - Rs. - 1.8000 — ₹1.80/share
23 Sept 2024DividendFinal Dividend - Rs. - 1.8000 — ₹1.80/share
14 Sept 2023DividendFinal Dividend - Rs. - 1.5000 — ₹1.50/share
19 Sept 2022DividendFinal Dividend - Rs. - 1.5000 — ₹1.50/share
17 Sept 2021DividendFinal Dividend - Rs. - 1.5000 — ₹1.50/share
19 Mar 2020DividendInterim Dividend - Rs. - 1.5000 — ₹1.50/share
17 Sept 2019DividendFinal Dividend - Rs. - 1.5000 — ₹1.50/share
10 Sept 2018DividendFinal Dividend - Rs. - 1.2000 — ₹1.20/share
19 Sept 2017DividendFinal Dividend - Rs. - 1.2000 — ₹1.20/share
30 Mar 2016DividendInterim Dividend - Rs. - 1.2000 — ₹1.20/share
23 Sept 2015DividendDividend - Rs. - 1.5000 — ₹1.50/share
18 Sept 2014DividendDividend - Rs. - 1.5000 — ₹1.50/share
29 Aug 2013DividendFinal Dividend - Rs. - 1.2000 — ₹1.20/share
30 Aug 2012DividendFinal Dividend - Rs. - 1.2000 — ₹1.20/share
21 Jul 2011DividendFinal Dividend - Rs. - 1.2000 — ₹1.20/share
Section 06 · Business performance

Is it becoming more profitable?

Margins — FY19 to FY26% of revenue · consolidated
0%5%10%15%20%25%30%35%40%45%31.4%4.2%FY19FY20FY21FY22FY23FY24FY25FY26
EBITDA marginNet margin
Strength

ROE rose from 4.5% to 8.0% — but FY2025 was a depressed year, so this is a rebound rather than a step-up.

Rule ROE_IMPROVED_YOY · rebound

EBITDA margin now
31.4%
8-year range
24.4–40.5%
ROE FY2026
1.5%
ROCE FY2026
5.1%

EBITDA margin has ranged from 27.3% to 51.4% over 7 years and sits at 33.3% now.

Section 07 · Financial health

Is financial health improving?

Net worth — FY19 to FY26₹ crore · consolidated
₹'000 cr0713204kFY195kFY205kFY216kFY227kFY237kFY2412kFY2512kFY26
Net worth (shareholders' funds)
Strength

Net worth compounded at 21.3% a year over 7 years (₹4,339 → ₹16,740).

Rule NET_WORTH_COMPOUNDING

Operating cash flow vs net profit₹ crore · FY21–FY26
0k1k2k3k3k213FY211k947FY22706341FY23131246FY2479187FY251k183FY26
Operating cash flowNet profit
Total debt
₹7,028 cr
Operating cash flow ÷ net profit
5.80×FY2026
Free cash flow
₹930 cr
Current ratio
1.22×

Debt-to-equity rose from 0.67× to 0.90× year on year.

Operating profit covers interest only 2.09× (FY2026).

Section 08 · Relative position

How does it compare with peers?

Ranked against 6 residential, commercial projects (FY2026, consolidated).

Revenue growth

PRESTIGE · 1st of 6 · set median 14.8%

PRESTIGE72.6%LODHA21.0%PHOENIXLTD16.0%OBEROIRLTY13.7%GODREJPROP4.2%DLF2.5%

EBITDA margin

PRESTIGE · 5th of 6 · set median 46.6%

PHOENIXLTD63.5%OBEROIRLTY60.8%GODREJPROP55.8%DLF37.5%PRESTIGE33.3%LODHA32.2%

Return on equity

PRESTIGE · 6th of 6 · set median 10.5%

LODHA15.7%OBEROIRLTY14.9%PHOENIXLTD11.1%DLF10.0%GODREJPROP10.0%PRESTIGE8.0%

P/E ratio

PRESTIGE · 6th of 6 · set median 33.8×

OBEROIRLTY24.5×LODHA26.7×GODREJPROP30.7×DLF36.9×PHOENIXLTD42.3×PRESTIGE50.9×
Context

Trades at 50.86× earnings — 51% above the residential commercial projects median of 33.77×.

Rule PE_ABOVE_PEERS

P / E
50.9×TTM to Jun 26
P / B
3.8×latest book
P / S
4.9×TTM sales
Earnings yield
2.0%TTM to Jun 26

On the trailing twelve months. Last full year: P/E 49.3× · P/S 4.9× · ROE 8.0%.

Section 09 · The stock

How has the stock performed?

Adjusted close — 2020-01 to 2026-10₹ per share · split / bonus adjusted
0k₹1,4942020202120222023202420252026
Watch

Over 5 years the stock returned 25.4% a year while profit shrank 4.0% a year.

Rule STOCK_RAN_AHEAD

Business vs stock — 5-year compound annual rate
Net profit-4.0%/yrShare price25.4%/yr
1-year return
−3.1%
3-year return
+147.9%
5-year return
+210.7%
From 52-wk high
−16.3%
Section 10 · Technical data

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg
Below₹1,563
vs 200-day avg
Above₹1,487
RSI (14)
47.4neutral
MACD histogram
3.7
From 52-wk high
−16.3%
From 52-wk low
+32.6%
30-day volatility
31.1%ann.
6-month return
+32.6%
RSI (14) · 0–10047.4 — neutral
0305070100OVERSOLDOVERBOUGHT47.4
Section 11 · Open questions

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

  • Watch
    Sharp margin drop
    EBITDA margin dropped 6.8 percentage points in a single year, from 40.1% to 33.3% — worth investigating.
    MARGIN_SHARP_DROP · conviction 71
  • Watch
    Growing, but less profitably
    Revenue grew 72.6% but EBITDA margin fell 6.8 percentage points to 33.3%, so the company kept less of each rupee of revenue as operating profit.
    REVENUE_UP_MARGIN_DOWN · conviction 70
  • Watch
    Stock has run ahead of the business
    Over 5 years the stock returned 25.4% a year while profit shrank 4.0% a year.
    STOCK_RAN_AHEAD · conviction 62
  • Watch
    Volatile earnings
    Profit has swung sharply over 7 years (from ₹442 to ₹1,629) — one year is a weak guide to the earnings power.
    EARNINGS_VOLATILE · conviction 56
  • Concern
    Leverage rising
    Debt-to-equity rose from 0.67× to 0.90× year on year.
    LEVERAGE_INCREASED_YOY · conviction 43
  • Concern
    Thin interest cover
    Operating profit covers interest only 2.09× (FY2026).
    INTEREST_COVER_LOW · conviction 42
  • Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference

The numbers

The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.

Income & balance sheet — ₹ crore, consolidated
MetricFY19FY20FY21FY22FY23FY24FY25FY26
Revenue2,4413,3564,0544,5594,3302,6512,8734,080
Total income2,5793,5674,2294,8714,4372,9063,2894,384
EBITDA7801,2101,1151,1401,0581,0751,0681,282
Profit before tax2983222361,100415223188205
Net profit289262213947341246187183
EPS (₹)7.76.95.323.68.56.14.54.3
Net worth4,2505,2675,4816,3696,6496,83511,85711,965
Total debt4,7494,3431,9702,5753,3453,7543,4857,028
Operating cash flow——2,8851,492706131791,063
Free cash flow——2,8851,778337−23247930
Key ratios — consolidated
RatioFY19FY20FY21FY22FY23FY24FY25FY26
Growth
Revenue growth YoY—37.520.812.5-5.0-38.88.442.0
Profit growth YoY—-9.3-18.9345.2-64.0-27.9-24.1-1.8
Profitability
EBITDA margin %32.036.127.525.024.440.537.231.4
Net margin %11.27.45.019.47.78.55.74.2
Return on equity %6.85.54.016.05.23.62.01.5
Return on capital %8.09.69.510.47.76.65.05.1
Leverage & cash
Debt to equity1.120.820.360.400.500.550.290.59
Cash flow ÷ profit——13.561.572.070.530.425.80
Current ratio0.890.841.031.111.011.031.251.22
Financials: BSE Integrated Filing inline XBRL (SEBI taxonomy), normalised to standard metric keys. Prices: NSE end-of-day, raw OHLC preserved; a corporate-action factor produces the adjusted series. The insight engine writes factual observations from fixed rules — it does not make recommendations. Not investment advice.