PRESTIGE Q4 FY26 Results Analysis: PAT Surges 112%, Revenue Jumps 73%

PRESTIGE reported Q4 FY26 numbers with revenue of Rs. 12,685.40 Cr (+72.60% YoY) and PAT growth of +111.60% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quarter Snapshot

PRESTIGE delivered exceptional FY26 results with pre-sales of Rs.30,024 Cr (11-20% above guidance) and residential revenue of Rs.12,685 Cr (27-59% above guidance). Revenue grew 72.6% YoY to Rs.12,685 Cr, PAT rose 111.6% to Rs.1,305 Cr, and free cash flow turned positive at Rs.3,398 Cr. EBITDA margin of 29.10% is within management's 28-30% sustainable range. Net debt/equity improved to 0.45, better than the 0.5-0.55 target. FY27 outlook remains strong with Rs.62,000 Cr unrecognized revenue providing multi-year visibility.

Key Investment Insights

Key Positives

• Pre-sales of Rs.30,024 Cr beat guidance of Rs.25,000-27,000 Cr by 11-20%
• Residential revenue of Rs.12,685 Cr beat guidance of Rs.8,000-10,000 Cr by 27-59%
• FY26 revenue grew 72.6% YoY to Rs.12,685 Cr, highest annual revenue in company history
• PAT grew 111.6% YoY to Rs.1,305 Cr; EPS grew 148% YoY to Rs.27.76
• Operating cash flow of Rs.32,232 Cr with 2.47x cash conversion ratio
• Free cash flow turned positive at Rs.3,398 Cr vs negative Rs.14,522 Cr in FY25
• Net debt/equity improved to 0.45, better than management's 0.5-0.55 target
• Collections grew 53% YoY to Rs.18,515 Cr

Risk Factors

• Q4 EBITDA margin compressed to 24.80% from 34.62% in Q4 FY25 due to product mix
• Finance costs increased 50.2% YoY to Rs.429.6 Cr
• Total borrowings increased 41.4% YoY to Rs.14,986 Cr
• Cash balance declined 22.6% YoY to Rs.1,556 Cr
• NCI share of PAT declined from 24.2% to 8.4%, indicating reduced minority participation in growth