Prestige Estates Q1 Profit Down 19% to Rs 236 Cr; Eyes Rs 6K Cr Revenue From New Project in MMR

New Delhi: Realty firm Prestige Estates Projects Ltd has reported a 19 per cent decline in consolidated net profit at Rs 235.9 crore for June quarter of 2026-27 fiscal year.

Its net profit stood at Rs 292.5 crore in the year-ago period.

Total income rose to Rs 2,835.6 crore during the quarter from Rs 2,468.7 crore a year ago, according to a regulatory filing on Wednesday.

In a separate filing, Prestige Estates said it has entered into a strategic partnership to develop a residential project in Thane. It did not disclose the name of the landowner.

The upcoming project is spread across 14.6 acres with development potential of over 5 million square feet. The company expects a total revenue of Rs 6,000 crore from this project.

Irfan Razack, Chairman & Managing Director, Prestige Group, said: “This project marks another significant milestone in the company’s continued expansion in the Mumbai Metropolitan Region.” Thane has emerged as one of the region’s most dynamic residential markets, driven by robust infrastructure development and sustained housing demand, he added.

Prestige Group has delivered 316 projects spanning 212 million sq ft. It has a pipeline of 135 projects across 227 million sq ft.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)