Prozone Realty Q1 FY27 Results (NSE: PROZONER)
Signal: Revenue declined
The read
The key inflection is a sharp deterioration in consolidated operating quality: revenue declined 60.1% YoY to ₹1,524.24 lakh and EBITDA was negative at ₹-4.90 crore equivalent, while the ₹130.48 lakh PAT depended on ₹814.04 lakh of discontinued-operations profit because continuing operations lost ₹683.56 lakh. Standalone revenue growth of 287.1% to ₹839.55 lakh is not clean evidence of operating momentum because other income was ₹657.47 lakh and finance costs surged to ₹687.71 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹15.24 Cr | -60.1% | -20.1% |
| EBIT | ₹-5.62 Cr | N/A | |
| Net profit | ₹1.36 Cr | 86.3% | |
| EPS | ₹0.09 | 80.0% | |
| EBIT margin | -32.2% |
P&L walk
Consolidated operating performance weakened materially: revenue was ₹1,524.24 lakh, down 60.1% YoY and 20.1% QoQ, while EBITDA was negative at ₹-4.90 crore equivalent; the ₹130.48 lakh reported PAT was produced by ₹814.04 lakh of discontinued-operations profit offsetting a ₹683.56 lakh continuing-operations loss.
Key positives
- Consolidated EPS was ₹0.09, up 80.0% YoY, broadly tracking owner-attributable PAT growth of 86.5% to ₹136.08 lakh.
- Standalone revenue increased 287.1% YoY to ₹839.55 lakh and 143.6% QoQ, indicating higher reported project activity even though recurring operating quality remains unclear.
- Depreciation declined 19.3% YoY to ₹71.77 lakh on the consolidated basis, reducing the non-cash operating burden.
Key concerns
- Consolidated revenue fell 60.1% YoY to ₹1,524.24 lakh and EBITDA was negative at ₹-4.90 crore equivalent, reversing the recent positive operating-margin trend.
- Continuing operations generated a loss of ₹683.56 lakh, while reported PAT of ₹130.48 lakh relied on ₹814.04 lakh of discontinued-operations profit.
- Consolidated finance costs rose 101.9% YoY to ₹141.42 lakh; standalone finance costs increased from ₹37.63 lakh to ₹687.71 lakh.
- Standalone EBITDA of ₹9.64 crore equivalent and 114.8% margin were heavily influenced by ₹657.47 lakh of other income, so they do not represent clean property operating margins.
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