Prestige Group posts ₹25 crore net profit in Q4 FY25, down 82% YoY

Prestige Group recorded net profit of ₹25 crore in the fourth quarter of FY25, marking an 82% decline YoY. The company reported total income of ₹1,589.3 crore

Bengaluru-based listed real estate developer Prestige Group has posted an 82% decline in its consolidated net profit to ₹25 crore in the quarter ended March from ₹140 crore in the year-ago period, the company said in a regulatory filing.

Bengaluru-based listed real estate developer Prestige Group has posted an 82% decline in its consolidated net profit to ₹25 crore in the quarter ended March from ₹140 crore in the year-ago period. (Representational photo) (Unsplash)

The company stated that the total income for the Q4 quarter also dropped to ₹1,589.3 crore from ₹2,232.5 crore in the corresponding quarter of the previous fiscal year.

For the full financial year 2024-25, Prestige Estates recorded a decline in its net profit, which fell to ₹467.5 crore from ₹1,374.1 crore in 2023-24, down by 66%. Annual revenue was also down to ₹7,735.5 crore, a decrease from ₹ 9,425.3 crore in the previous year.

In FY25, the company also partnered with Valor Group to develop an office complex worth ₹4,500 crore in Mumbai. The project's estimated Gross Development Value (GDV) is approximately ₹4,500 crore, with Valor and Prestige each holding a 50% economic stake.

The project entails a total leasable area of 1.5 million sq ft and a Gross Development Value (GDV) of about ₹4,500 crore. The joint development agreement was signed on May 28 for land measuring 21,978.22 square metres in Andheri East, Mumbai.

"The company and Valor Group shall jointly develop approximately 1.50 million sq. ft. of leasable area commercial office complex on a 50:50 joint venture basis," Prestige Estates said. The company will infuse ₹504 crore into the SPV (special purpose vehicle), which will be established to develop this project.

In April 2025, Prestige Hospitality Ventures Limited ('PHVL'), a wholly-owned subsidiary of the Company, filed Draft Red Herring Prospectus with the Securities and Exchange Board of India for a proposed Initial Public Offering, comprising an offer for sale of such number of equity shares aggregating up to ₹1000 crore and fresh issue of equity shares aggregating up to ₹1700 crore, the regulatory filing said.