However, revenue from operations grew 3.04% year on year (YoY) to Rs 2,304.40 crore in the quarter ended 30 September 2024.
Profit before tax stood at Rs 182.70 crore in September 2024 quarter, down 84.34% from Rs 1,166.70 crore reported in same quarter last year.
The company’s EBITDA dropped 53.43% YoY to Rs 750.7 crore while EBITDA margin stood at 30.97% during the period under review.
During Q2 FY25, the group has registered sales of Rs 4,022.6 crore (down 43% YoY) and the collections stood at Rs 2,737.2 crore (up 4% YoY).
The sales during this period are attributed to 3 mn sft volume with an average realization of Rs 13,782 per sft (for apartments / villas) and Rs 6,645 per sft (for plots).
The number of units sold during the second quarter of FY25 stood at 1,366 units.
As on 30 September 2024, the company’s net debt was at Rs 359.21 crore and debt equity ratio was at 0.21 and average borrowing cost was at 10.69%.
On half year basis the company’s consolidated net profit dropped 62% to Rs 424.80 crore in H1 FY25 as against Rs 1,117.80 crore posted in H1 FY24. However the company’s revenue from operation increased 6.36% YoY to Rs 4,166.50 crore in H1 FY25.
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.
The scrip rose 0.19% to Rs 1,609.50 on the BSE.