Q3 2026 Prestige Estates Projects Ltd Earnings Call Transcript
Key Points
- Prestige Estates Projects Ltd (BOM:533274) achieved record presales of INR4,184 crore in Q3, marking a 39% year-on-year growth.
- The company reported the highest ever sales within nine months, with presales reaching INR22,327 crore, a 122% increase year-on-year.
- Collections were robust, with INR4,548 crore in Q3 and INR13,283 crore over nine months, surpassing previous full-year totals.
- The commercial office portfolio maintained strong occupancy rates over 95%, with significant leasing activity and projected annuity income growth.
- Prestige Estates Projects Ltd (BOM:533274) continues to make progress in ESG initiatives, including India's first net zero energy operational mall and multiple certifications.
- The EBITDA margin for Q3 was 22.5%, lower than the nine-month average of 34.3%, due to a less favorable product mix.
- The company experienced a high cash outflow of INR27 billion for land investments in Q3, impacting cash reserves.
- There is a concern about maintaining the presales momentum in FY27, especially with a significant contribution from NCR in FY26.
- Some markets, like Chennai, are experiencing slower sales, which could impact overall growth if not addressed.
- The company faces challenges in managing construction costs, which have increased alongside GDV, potentially affecting profit margins.
Ladies and gentlemen, good day, and welcome to Prestige Estates Q3 FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Pritesh Sheth. Thank you, and over to you, sir.
Yeah. Thank you. Good afternoon, everyone. Apologies for the delay. On behalf of Axis Capital, I welcome everyone to the call. From the management of Prestige Estates, we have Mr. Irfan Razack, Chairman and Managing Director; Mr. Zayd Noaman, Executive Director; and Mr. Amit Mor, the Chief Financial Officer. I'll now hand over the call to management for their initial remarks, and then we can open the floor for question-and-answer.
Thank you. Over to you.
Good afternoon, everyone. I'll ask Zayd to give his opening remarks, and then we'll continue with questions.
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