PRESTIGE ESTATES PROJECTS LTD Q2 RESULTS
Take notice! In a muted Q1 season, these 14 companies doubled sales and profits
14 companies with market capitalization exceeding Rs 2,500 crore demonstrated exceptional performance in Q1 2024, doubling their sales and profits. Top performers included Spright Agro and Diamond Power Infrastructure. The broader market saw mixed results with sectors like BFSI and automobile doing well, but oil marketing companies underperforming.
Q1 results shocker: 40 companies report more than 50% drop in profit
The profits of 40 Indian companies have plummeted by more than 50% in the June quarter, primarily due to higher raw material costs and unfavorable base effects. Notable names like Allcargo Logistics and Rajesh Exports saw drastic declines. Analysts suggest cautious investment strategies amid high market valuations and slowing profit growth.
L&T Realty, Valor in pact for Rs 8,500-cr joint development in Mumbai’s Bandra west
In 2013, Valor Estate’s subsidiary Goregaon Hotel & Realty Pvt Ltd (GHRPL) had entered into an agreement with a consortium led by a hydro-mechanical engineering services company Om Metals to develop this project. Om Metals Consortium had secured the approval to develop this project from the Maharashtra Housing and Area Development Authority in 2006.
Inclusion of 7 stocks in MSCI indices could draw $3 billion
India saw an influx of up to $3 billion in August due to MSCI's adjustments to its indices. HDFC Bank's weight was increased, and restrictions on Adani Group stocks were lifted. Seven cos joined the global standard index, boosting India's weight in the emerging markets index to 20%.
Hindalco net debt negative in India; in Q2, EBITDA per tonne to come in a bit lower than in Q1: Satish Pai
Hindalco reported higher-than-expected sales for the quarter, driven by strong demand and operational efficiency. Consolidated EBITDA soared 31% year-on-year to Rs 7,992 crore. MD Satish Pai stated that the company will stick with its Rs 600 crore guidance, focusing on profitability rather than top-line growth as aluminium prices influence revenue unpredictably.
SIP flows keeping the market stable; higher topline-led growth likely for most IT cos: Deven Choksey
Deven Choksey from DRChoksey FinServ discusses positive market outlooks for IT, real estate, metals, and white goods sectors. He highlights optimism despite some challenges, emphasizing the importance of policy consistency for growth. The viewpoint is hopeful for market stability and better opportunities moving forward, focusing on solid growth potential across sectors.
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Voltas Q1 net profit soars 160% YoY to Rs 335 crore, stock jumps 10%
Voltas Q1 Results: Air conditioning maker Voltas on Monday posted a 160% year-on-year (YoY) jump in consolidated net profit to Rs 335 crore for the June quarter of FY25. It had clocked Rs 129 crore profit in the year-ago period.
Voltas Q1 Results: Standalone net profit jumps 58% YoY to Rs 339.14 crore, revenue rises 45%
In the company's unitary cooling products segment, which includes the AC business, revenue surged by 51% year-on-year to Rs 3,802.17 crore for the quarter under review. Segment profitability increased by 58% year-on-year, reaching Rs 327.02 crore. As the country's largest AC brand, the company reported record sales of one million units last quarter, with an overall volume growth of 67% year-on-year.
Info Edge Q1 Results: Cons PAT jumps 47% YoY to Rs 233 crore, revenue rises 8%
The company's standalone net profit increased by 16% year-on-year to Rs 232 crore in the April-June quarter, compared to Rs 200 crore in the same period last year. Standalone revenue also grew by 9.3% to Rs 639 crore during the quarter, up from Rs 584 crore in the corresponding quarter of the previous fiscal year.
Accumulate Prestige Estates Projects, target price Rs 1822: Geojit
Prestige Estates Projects Ltd., incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 66903.81 Crore) operating in Real Estate sector.
Axis Securities sees over 30% upside potential in this real estate stock, initiates coverage
Axis Securities highlighted Prestige Estates' strong financial performance and diversified business model. With record pre-sales and collections in FY24, Prestige eyes significant free cash flows from ongoing and upcoming projects. The company's projected launch for FY25 is expected to bring Rs 59,000 crore in revenue, maintaining a debt-to-equity ratio of 0.66.
Devyani International Q1 Results: Company reports net profit of Rs 22 crore versus loss YoY; revenue jumps 44%
For the June quarter, the company reported revenue from operations of Rs 1,222 crore, a 44% increase year-on-year, driven by improved ADS and store additions. In the corresponding quarter of the previous year, revenue was Rs 847 crore. Consolidated EBITDA for the quarter was Rs 220 crore, with margins at 18.3%, reflecting a 1.7% improvement compared to the previous quarter.
Prestige Estates Projects Q1 profit down 13 pc to Rs 232.6 cr
Total income rose to Rs 2,024.5 crore in the April-June period of 2024-25 fiscal year from Rs 1,966.3 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday.
IOC Q1 Results: Profit plummets 81% YoY to Rs 2,643 crore
Indian Oil Corp reported an 81% drop in standalone net profit to Rs 2,643 crore in Q1, down from Rs 13,750 crore a year ago. Revenue fell 2% YoY to Rs 2.15 lakh crore. EBITDA was Rs 8,636 crore with margins at 4.5%. Total expenses increased to Rs 2.13 lakh crore from Rs 2.03 lakh crore.
Q1 results today: IndiGo, IndusInd among 69 companies to announce earnings on Friday
Companies like Aarti Drugs, Amber Enterprises, Bandhan Bank, Cholamandalam Investment, City Union Bank, ESAF SFB, Equitas SFB, Mangalam Organics, Piramal Pharma, TTK Prestige among others will also declare their results.
DLF Q1 Results: PAT at Rs 646 crore on strong sales booking
“We launched the second phase of our luxury project in New Gurugram- Privana West, which witnessed strong demand momentum and consequently was entirely sold-out clocking Rs 5,600 crore of new sales bookings,” DLF said in a statement.
L&T shares rise 2% after 12% YoY jump in PAT. Should you buy, sell or hold?
Larsen and Toubro (L&T)’s shares rose by 2% after it reported a consolidated net profit of Rs 2,786 crore for Q1 FY25. Revenue from operations saw a 15% YoY increase, driven by robust execution in projects and manufacturing. Orders grew by 8%, with strong momentum in the Middle East, per analysts insights.
L&T Q1 Results: Cons PAT jumps 12% YoY to Rs 2,786 cr, revenue rises 15%
L&T Q1 Results: Revenue from operations grew 15% YoY to Rs 55,120 crore, driven by strong performance in the projects and manufacturing (P&M) portfolio, supported by a substantial order book. In the first quarter, the company secured orders worth Rs 70,936 crore at the group level, showing an 8% year-on-year increase, thanks to robust ordering activity in the Middle East.
Budget 2024: Realty sector expects higher outlay for PMAY, home loan interest deduction limit raise
Favorable announcements in the housing sector could boost stocks of realty, cement, and housing finance companies. Credit ratings agency CareEdge predicts the government will increase funding for affordable housing schemes, driving construction and employment.
Oberoi Realty shares jump over 6% after robust Q1 results
Its net profit stood at Rs 321.64 crore in the year-ago period. The company's revenue from operations increased 54.4% to Rs 1,405.2 crore against Rs 910 crore in the corresponding period of the preceding fiscal.
Indian real estate sees deals worth USD 1.56 bn in Apr-Jun; up nearly 8-fold from Q1: Grant Thornton
Indian real estate market saw deals worth USD 1.56 billion during April-June 2024, a nearly eight-fold increase from the preceding quarter, according to Grant Thornton Bharat. This surge, driven by four high-value transactions and reflecting economic recovery, included 19 deals with substantial growth in both M&A and private equity investments
We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
Prestige Estates Q1 Results: Sale bookings fall 23% YoY to Rs 3,029 cr
Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period.
Prestige Estates sees 22% sales dip in Q1 FY25 due to election delays
Prestige Estates Projects Limited experienced a 22% decrease in sales for Q1 FY25 at Rs 3029 crore, largely due to the general election and delays in project approvals. The sales volume decreased from 3.83 million square feet to 2.86 million square feet. Despite this, the company crossed a sales figure of Rs 3,000 crore.
Prestige Estates board okays proposals to raise Rs 5,000 crore
The Bengaluru-based company may either consider creating a real estate investment trust - which could be the first hotel REIT in India - or pursue an initial public offering to monetise the hospitality business. In April, ET was the first to report Prestige Estates' plan to monetise the business. "The firm is also currently evaluating to monetise its hospitality portfolio, which will lead to some value unlocking," Zaid Sadiq, executive director of hospitality at the Prestige Group had said. He could not be reached for comment.
Properties worth Rs 1.17 lk cr sold by 18 listed realty firms in FY24; Godrej properties at top
Major real estate developers in India, including Godrej Properties, Prestige Estates Projects, and DLF, achieved significant sales bookings in the last fiscal year driven by strong demand for residential properties, especially luxury homes.
Prestige Estates Q4 Results: Profit plunges 70% YoY to Rs 140 crore
Prestige Estates Projects Ltd has posted 70 per cent decline in consolidated net profit at Rs 140 crore for the quarter ended March 2024 on lower income. Its net profit stood at Rs 468.4 crore in the year-ago period.
Q4 Results: Prestige Estates profit down 70% to Rs 140 cr
Prestige Estates Projects, a leading real estate developer, reported a 70% decline in net profit to Rs 140 crore for the quarter ending March 2024. Despite the decrease, the company saw growth in the 2023-24 fiscal year, with increased total income and net profit.
Best is yet to come; for current year, looking at 25% growth over last year: Irfan Razack, Prestige Group
Irfan Razack, CMD of Prestige Group, outlines the company's strong sales performance, future launch plans, and expansion strategies in Bangalore and other cities, emphasizing growth projections in various sectors by 2028. In Delhi NCR, Prestige is launching projects in Indirapuram, Noida and KG Marg. However, because of the election, code of conduct has kicked in and things have been at a standstill in the last few months.
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