Prestige Estates Projects Ltd saw quarterly profits cut nearly in half. Net profit plunged 47.9% year-on-year to ₹224 crore in the second quarter, down from ₹430 crore in the corresponding period last year, according to regulatory filings submitted to exchanges on Thursday. The selloff was swift. Shares of the Bengaluru-based real estate developer dropped 3.45% on the BSE to close at ₹1,632.45, shedding ₹54.40 in Thursday trade as traders digested the steep bottom-line contraction.
Top-line momentum stalled during the quarter. Revenue from operations dropped 15.3% to ₹2,060 crore, compared with ₹2,432 crore recorded during the same three months of the prior fiscal year. Slower revenue recognition weighed on headline numbers, pushing the bottom line lower despite tight cost controls across core operations.
Yet operating performance told a starkly different story. Earnings before interest, tax, depreciation, and amortisation (EBITDA) edged up 1.8% to ₹926 crore from ₹910 crore in the year-ago period. Operational efficiency insulated gross delivery—and the company's EBITDA margin expanded by 800 basis points to 45%, up from 37% a year earlier.
| Financial Metric | Q2 Current Period | Q2 Year-Ago Period | YoY Change (%) |
|---|---|---|---|
| Revenue | ₹2,060 crore | ₹2,432 crore | -15.3% |
| EBITDA | ₹926 crore | ₹910 crore | +1.8% |
| EBITDA Margin | 45% | 37% | +800 bps |
| Net Profit | ₹224 crore | ₹430 crore | -47.9% |
But the operational margin expansion failed to offset the sting of the net earnings slump in the equity market. Selling pressure persisted throughout the session on the BSE, dragging the stock toward its intraday lows as market participants weighed how quickly project deliveries and revenue recognition will rebound in the second half of the fiscal year.