However, revenue from operations grew 10.78% year on year (YoY) to Rs 1,862.1 crore in the quarter ended 30 June 2024.
Profit before tax stood at Rs 409.3 crore in June 2024 quarter, up 1.29% from Rs 404.1 crore reported in same quarter last year.
The company’s EBITDA jumped 18.05% YoY to Rs 958.7 crore while EBITDA margin stood at 47.35% during the period under review.
During Q1 FY25, the group has registered sales of Rs 3,029.5 crore (down 23% YoY) and the collections stood at Rs 2,916.2 crore (up 6% YoY).
The sales during this period are attributed to 2.86 mn sft volume with an average realization of Rs 11,934 per sft (for apartments / villas) and Rs 7,285 per sft (for plots).
The number of units sold during the first quarter of FY25 stood at 1,364 units.
As on 30 June 2024, the company’s net debt was at Rs 8,179.9 crore and debt equity ratio was at 0.68 and average borrowing cost was at 10.76%.
The company has completed 38 projects over the last 5 years. Currently, there are 39 ongoing projects and 28 upcoming projects are planned.
Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has diversified business model across various segments, viz residential, office, retail, hospitality, property management and warehouses with operations in more than 13 major locations in India. The Group has completed 300 projects spanning a developable area of approximately 190 million square feet.