Prestige Estates Projects Limited has successfully maintained compliance with regulatory requirements for its ₹5000.00 crore Qualified Institutional Placement (QIP) proceeds, according to the latest monitoring agency report for the quarter ended December 31, 2025. ICRA Limited, serving as the monitoring agency, confirmed no material deviation from the stated objectives of the fund utilization.

QIP Issue Overview

The real estate developer completed its QIP between August 29, 2024, and September 04, 2024, raising gross proceeds of ₹5000.00 crore. After accounting for issue-related expenses of ₹100.83 crore, the net proceeds available for deployment stood at ₹4899.17 crore, slightly revised from the original ₹4900.60 crore due to an increase in actual issue-related expenses by ₹1.43 crore.

Fund Utilization Progress

The company has demonstrated significant progress in deploying the raised capital across its stated objectives. As of December 31, 2025, Prestige Estates has utilized ₹4678.35 crore, representing approximately 95.49% of the net proceeds.

Complete Deployment in Key Areas

The company has fully utilized funds allocated for debt repayment and land acquisition objectives. The ₹1500.00 crore earmarked for repayment of outstanding borrowings has been completely deployed, strengthening the company's financial position. Similarly, the entire ₹1000.00 crore allocation for land acquisition and development rights has been utilized, supporting the company's expansion strategy.

Subsidiary Investment Progress

The primary area with remaining funds is the subsidiary and joint venture investment category, where ₹321.65 crore remains unutilized out of the ₹1250.00 crore allocation. During the quarter ended December 31, 2025, the company invested ₹99.00 crore in this category, bringing total utilization to ₹928.35 crore. These investments support ongoing and upcoming projects undertaken by the company's subsidiaries and joint ventures.

Unutilized Funds Management

The company has deployed the unutilized proceeds of ₹321.65 crore in various fixed deposits and bank accounts to ensure optimal returns while maintaining liquidity. The funds are primarily invested in fixed deposits with ICICI Bank and SBI Bank, earning returns ranging from 5.10% to 5.25%. The largest single investment is a ₹257.88 crore fixed deposit with SBI Bank, which matured on December 26, 2025.

Regulatory Compliance and Timeline

ICRA Limited's monitoring report confirms that all utilization remains in line with disclosures made in the placement document. The monitoring agency found no major deviations from earlier reports and confirmed that all projects remain on schedule. The company is expected to complete the remaining fund deployment by March 31, 2026, as per the original timeline outlined in the offer document.

The monitoring report, submitted pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, provides investors with transparency regarding the company's adherence to its stated fund utilization plans and reinforces confidence in the company's financial management practices.

Prestige Estates Projects Limited announced its Q3FY26 financial results for the quarter and nine months ended December 31, 2025, showcasing strong revenue growth despite challenges in profitability. The Board of Directors approved the unaudited standalone and consolidated financial results at their meeting held on January 29, 2026.

Standalone Financial Performance

The company delivered impressive revenue growth in Q3FY26, with standalone revenue from operations reaching ₹11,294 million, marking a substantial 59.04% increase from ₹7,100 million in Q3FY25. This strong operational performance demonstrates the company's ability to capitalize on market opportunities and execute its development projects effectively.

Despite the strong revenue performance, net profit declined significantly to ₹458 million from ₹1,317 million in Q3FY25. The company reported total income of ₹12,231 million compared to ₹8,241 million in the previous year quarter. Basic earnings per share decreased to ₹1.06 from ₹3.06 in Q3FY25.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, Prestige Estates Projects maintained steady growth momentum with revenue from operations of ₹23,836 million compared to ₹22,854 million in the corresponding period last year. The company achieved net profit of ₹790 million for the nine-month period, significantly lower than ₹1,693 million in the previous year.

Consolidated Results Show Strong Performance

The consolidated financial results presented a more robust picture, with Q3FY26 revenue from operations reaching ₹38,726 million compared to ₹16,545 million in Q3FY25, representing a remarkable 134.00% growth. Consolidated net profit stood at ₹2,447 million versus ₹322 million in the previous year quarter.

Corporate Developments and Strategic Initiatives

During the nine months ended December 31, 2025, the company undertook several strategic acquisitions to strengthen its market position. Prestige Estates Projects acquired additional stakes in subsidiaries including Prestige Nottinghill Investments, Apex Realty Ventures LLP, and Prestige AAA Investments. The company also acquired a controlling stake in Bharatnagar Buildcon LLP.

The company continues to benefit from its Qualified Institutional Placement (QIP) completed during the year ended March 31, 2025, which raised ₹50,000 million. As of December 31, 2025, ₹46,784 million has been utilized for intended purposes, with the balance ₹3,750 million maintained in bank accounts and temporary investments.

Operational Highlights and Future Outlook

Prestige Estates Projects operates as a comprehensive real estate development company, with the Chief Operating Decision Maker reviewing operations as a single reportable segment focused on real estate development and related activities. The company's revenue from operations relates entirely to real estate development in India, with all non-current assets located domestically.

The financial results reflect the company's continued focus on expanding its development portfolio and strengthening its market presence across key Indian cities. With substantial cash reserves from the QIP and ongoing project execution capabilities, the company remains well-positioned for future growth opportunities in the Indian real estate sector.