Prestige Estates Projects Ltd reported a significant 82% year-on-year decline in its consolidated net profit for the quarter ended March 2025, falling to ₹25 crore from ₹140 crore in the same period last year.
The company also witnessed a sharp drop in total income, which declined to ₹1,589.3 crore during the fourth quarter of FY25, compared to ₹2,232.5 crore in the corresponding quarter of FY24, according to a regulatory filing on Thursday evening.
For the full financial year 2024–25, Prestige Estates’ net profit dropped to ₹467.5 crore, a steep fall from ₹1,374.1 crore in the previous fiscal. Annual total income also fell to ₹7,735.5 crore from ₹9,425.3 crore in FY24.
Despite the weak financial performance, Prestige Estates announced a strategic partnership with Valor Group to co-develop a large-scale commercial office complex in Mumbai. The project, located in Andheri West, will span 1.5 million square feet of leasable space and has a projected Gross Development Value (GDV) of ₹4,500 crore.
Under the agreement, Prestige Estates and Valor Group will each hold a 50% economic interest in the joint venture. Prestige will invest ₹504 crore into a Special Purpose Vehicle (SPV) formed for the development.
Bengaluru-headquartered Prestige Estates is one of India’s leading real estate developers, with a diversified portfolio spanning residential, commercial, retail, and hospitality projects.
On Friday, Prestige Estates shares closed at ₹1,466.60 on the NSE, down 2.29% for the day.
