12th Foor

S.R. BATLIBOI & ASSOCIATES UP "UB City" Canberra Block

No. 24, VItai Maya Road
Chartered Accountants Bengaiuru - 560 001, Inda
: +9: 80 6648 9000
Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of
the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

To
The Board of Directors of
Prestige Estates Projects Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of Prestige
Estates Projects Limited (the "Company") which includes 27 partnership entities for the quarter ended March 31,
2024 and for the year ended March 31. 2024 ("Statement"), attached herewith, being submitted by the Company
pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, and based on the
consideration of the reports of the other auditors on the separate audited financial statements and on the other
financial information of the partnership entities, the Statement:

i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the applicable accounting standards and other
accounting principles generally accepted in India, of the net profit and other comprehensive income
and other financial information of the Company for the quarter ended March 31, 2024 and for the
year ended March 31, 2024.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of
the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described
in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are
independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered
Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements
under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us
and other auditors in terms of their reports referred to in "Other Matter" paragraph below is sufficient and
appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note 5 to the Statement, regarding certain pending claims (including gross receivables of
Rs. 923 million) of the Company from a land owner, against whom winding up petitions have been ordered by
the Hon'ble High Court of Karnataka. Pending the ultimate outcome of the aforesaid legal proceedings, no further
adjustments have been made to the accompanying financial results in this regard. Our opinion is not modified in
respect of this matter.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of
Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true
and fair view of the net profit and other comprehensive income of the Company and other financial information
in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant
rules issued thereunder and other accounting principles generally accepted in India and in compliance with
Regulation 33 and 52 of the Listing Regulations. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company
and for preventing and detecting frauds and other irregularities; selection and application of appropriate

S.R. Bat;ibo & Associates L_P. a ",_r":i.t.ed :_iab!!!ty No. '.AC-4295

Regd. Office : 22. Camac Street, B:ock a. 3rd Fco:-, Ke;Xata-700. 016
S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants

accounting policies; making judgments and estimates that are reasonable and prudent: and the design,
implementation and maintenance of adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records. relevant to the preparation and presentation of
the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has
no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing
our opinion on whether the company has adequate internal financial controls with reference to financial
statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the
related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future
events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and
whether the Statement represents the underlying transactions and events in a manner that achieves fair
presentation.
• For the partnership entities included in the Statement, which have been audited by other auditors, such other
auditors remain responsible for the direction, supervision and performance of the audits carried out by them.
We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.
S.R. BATLI801 & ASSOCIATES LLP
Chartered Accountants

Other Matter

The accompanyin2. Statement of quarterly and year to date standalone financial results includes the Company's
share of net profit/(loss) after tax of Rs. 1,138 million and Rs. 2,044 million and total comprehensive income/(loss)
of Rs. 1,138 million and Rs. 2,044 million for the quarter ended and for the year ended on that date respectively,
as considered in the Statement, in respect of 27 partnership entities, which have been audited by their respective
auditors.

The reports of such other auditors on annual financial statements and other financial information of these
partnership entities have been furnished to us and our opinion on the Statement, in so far as it relates to the amounts
and disclosures included in respect of these partnership entities, is based solely on the report of such other auditors.
Our opinion on the Statement is not modified in respect of the above matter.

The Statement includes the results for the quarter ended March 31, 2024 being the balancing figure between the
audited figures in respect of the full financial year ended March 31, 2024 and the published unaudited year-to-
date figures up to the third quarter of the current financial year, which were subjected to a limited review by us,
as required under the Listing Regulations.

For S.R. BATLIBOI & ASSOCIATES LLP

Chartered Accountants
ICAI Firm Registrat. n Number:101049W/E300004

per Sudhi ain

Partner
Members 7 o: 213157

UDIN: 24213157BKFNHS7231

Place: Bengaluru, India

Date: May 28, 2024
 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
-445- CIN: L07010KA1997PLCO22322
Prestipp
GI-201J Statement of Standalone Audited Financial Results for the quarter and year ended 31 March 2024

Rs. In Million)
Quarter ended Year ended
51 31-Mar-24 31-Dec-23 31-Mar-23 31-Mar-24 31-Mar-23
Particulars
No (Audited) (Audited)
(Unaudited) (Audited) (Audited)
(Refer Note 10) (Refer Note 10)
1 Income
Revenue from operations 5,778 5,787 12,641 26,512 43,297
Other income 901 308 249 2,547 1,070
Total income 6,679 6,095 12,890 29,059 44,367
2 Expenses
(Increase)/ decrease in inventory (4,424) (1,303) 1,695 (5,059) 819
Contractor cost 2,553 2,700 3,368 8,754 8,921
Purchase of materials 615 548 576 2,208 1,816
Land cost 2,077 159 2,561 3,741 14,131
Employee benefits expense 1,107 876 790 3,489 2,818
Finance costs 1,567 1,007 959 4,513 3,313
Depreciation and amortisation expense 1,123 994 883 4,001 3,317
Other expenses 1,735 1,006 1,518 5,180 5,286
Total expenses 6,353 5,987 12,350 26,827 40,421
3 Profit before exceptional items (1-2) 326 108 540 2,232 3,946
4 Exceptional items (Refer Note 6) - -- - 204
5 Profit before tax (3+4) 326 108 540 2,232 4,150
6 Tax expense
Current tax (1) (2) (1) 350
Deferred tax (340) (3) 90 (225) 391
Total tax expenses (341) (3) 88 (226) 741
7 Net profit for the period/ year (5-6) 667 111 452 2,458 3,409
8 Other comprehensive income
Items that will not be recycled to profit or loss
Remeasurements of the defined benefit liabilities 6 (5) (11) (4) (11)
Tax impact (2) 2 3 1 3
9 Total comprehensive income for the period/ year 671 108 444 2,455 3,401
[Comprising Net profit for the period and Other
comprehensive income (after tax)] (7+8)
10 Paid-up equity share capital (Face Value of Rs.10/- per 4,009 4,009 4,009 4,009 4,009
share)
11 Earnings Per Share*(Face Value of Rs.10/- per share)
a) Basic 1.66 0.28 1.13 6.13 8.50
b) Diluted 1.66 0.28 1.13 6.13 8.50
12 Ratios and Other Disclosure* (Refer Note 8)
a) Debt 37,543 32,104 33,446 37,543 33,446
b) Net worth 68,347 67,675 66,493 68,347 66,493
c) Reserves excluding revaluation reserve 64,338 63,666 62,484 64,338 62,484
d) Debenture redemption reserve (DRR) 769 687 1,018 769 1,018
e) Debt equity ratio 0.55 0.47 0.50 0.55 0.50
f) Debt service coverage ratio 0.69 0.57 1.13 0.68 0.91
g) Interest service coverage ratio 1.21 1.11 1.56 1.49 2.16
h) Capital redemption reserve / ORR - - - -
i) Current ratio 1.03 1.09 1.01 1.03 1.01
j) Long term debt to working capital 2.69 1.18 10.21 2.69 10.21
k) Bad debts to accounts receivable ratio 0.00 0.00 0.00 0.00
I) Current liability ratio 0.84 0.85 0.86 0.84 0.86
m) Total debt to total assets 0.19 0.18 0.19 0.19 0.19
n) Debtors turnover 1.76 1.86 3.34 7.33 8.47
o) Inventory turnover 0.10 0.11 0.23 0.47 0.80
p) Operating margin % 36.60% 31.12% 16.87% 30.93% 21.96%
q) Net profit margin % 11.54% 1.92% 3.58% 9.27% 7.87%

See accompanying notes to financial results

* Not annualised for the quarter.

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 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
ON: L07010KA1997PLCO22322
GROtjAe
res
Statement of Standalone Audited Financial Results for the quarter and year ended 31 March 2024

Notes to financial results

1 Statement of Assets and Liabilities

.Rs.I .
As at As at
Particulars 31-Mar-24 31-Mar-23
(Audited) (Audited)

A. ASSETS
(1) Non-current assets
(a) Property, plant and equipment 6,666 4,930
(b) Capital work-in-progress 3 1,736
(c) Investment property 21,935 15,584
(d) Intangible assets 25 18
(e) Financial assets
(i) Investments 14,896 16,238
(ii) Loans 34,943 35,444
(Hi) Other financial assets 2,326 3,003
(1) Deferred tax assets (net) 1,105 879
(g) Income tax assets (net) 3,078 2,627
(h) Other non-current assets 379 492
Sub-total 85,356 80,951
(2) Current assets
(a) Inventories 58,324 53,429
(b) Financial assets
(i) Investments 18 14
(ii) Trade receivables 3,253 3,981
(iii) Cash and cash equivalents 5,392 2,672
(iv) Bank balances other than cash and cash equivalents 163 1,361
(v) Loans 31,766 30,501
(vi) Other financial assets 6,861 3,660
(c) Other current assets 4,211 2,747
Sub-total 1,09,988 98,365

Total 1,95,344 1,79,316

B. EQUITY AND LIABILITIES

(1) Equity
(a) Equity share capital 4,009 4,009
(b) Other equity 64,338 62,484
Sub-total 68,347 66,493
(2) Non-current liabilities
(a) Financial liabilities
(i) Borrowings 6,235 9,338
(ii) Lease liabilities 13,289 5,489
(Hi) Other financial liabilities 589 574
(b) Other non-current liabilities 137 70
(c) Provisions 271 226
Sub-total 20,521 15,697
(3) Current liabilities
(a) Financial liabilities
(i) Borrowings 31,308 24,108
(ii) Lease liabilities 2,085 3,100
(iii) Trade payables
- Dues to micro and small enterprises 228 229
- Dues to creditors other than micro and small enterprises 4,875 4,800
(iv) Other financial liabilities 23,160 27,149
(b) Other current liabilities 43,854 36,608
(c) Provisions 966 1,132
Sub-total 1,06,476 97,126

Total 1,95,344 1,79,316

,\,7.-
S E S P99,
/

Bangalore. 12,
 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
Prestkge
GROUT Statement of Standalone Audited Financial Results for the quarter and year ended 31 March 2024

2 Statement of cash flows

(Rs. In Million)
Year ended
Particulars 31-Mar-24 31-Mar-23
(Audited) (Audited)

Cash flow from operating activities

Profit before tax 2,232 4,150
Add: Expenses / debits considered separately
Finance costs 4,513 3,313
Depreciation and amortisation 4,001 3,317
Expected Credit loss allowance on receivables 7 7
Loss on redemption of investment 5
Loss on sale of fixed assets 9
Sub-total 8,521 6,651
Less: Incomes / credits considered separately
Interest income 1,871 960
Dividend income 601
Fair Value gain on financial instruments 4 9
Profit on sale of investments / investment properties 1 204
Share of profit from partnership firms/ LLPs 2,655 1,781
Sub-total 5,132 2,954

Operating profit before changes in working capital 5,621 7,847

Adjustments for:
(Increase) / decrease in trade receivables 721 2,252
(Increase) / decrease in inventories (4,895) 752
(Increase) / decrease in other financial assets (1,221) 1,586
(Increase) / decrease in loans 351
(Increase) / decrease in other assets (1,431) 2,564
Increase / (decrease) in trade payables 74 (29)
Increase / (decrease) in other financial liabilities (4,653) 1,813
Increase / (decrease) in other liabilities 7,313 (6,701)
Increase / (decrease) in provisions (125) (2,213)
Sub-total (3,866) 24

Cash generated from / (used in) operations 1,755 7,871

Income taxes (paid)/refund, net (450) (812)
Net Cash generated from / (used in) operating activities - A 1,305 7,059

Cash flow from investing activities

Capital expenditure on investment property, property, plant and equipment and (3,629) (3,693)
intangible assets (including capital work-in-progress)
Decrease / (Increase) in inter corporate deposits given (4,206) (11,998)
(Increase) / decrease in partnership current account 5,929 1,638
Current and non-current investments made (1,138)
Deferred consideration received (Refer Note 6) 204
Proceeds from sale/redemption of current and non-current investments 993 5
Investments in bank deposits (having original maturity of more than three months) 631
Redemption of bank deposits (having original maturity of more than three months) (608)
Interest received 1,135 923
Dividend received 601
Net Cash from / (used in) investing activities - B 316 (13,529)

Cash flow from financing activities

Secured loans availed 9,417 5,692
Secured loans repaid (5,413) (4,659)
(Decrease) / Increase in inter corporate deposits taken 1,581 6,659
Dividend payout including tax (601) (601)
Finance costs paid (3,885) (2,675)
Net Cash from / (used in) financing activities - C 1,099 4,416

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 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
Prest kge
GROUI Statement of Standalone Audited Financial Results for the quarter and year ended 31 March 2024

Rs. In Million
Year ended
Particulars 31-Mar-24 31-Mar-23
(Audited) (Audited)

Net increase / (decrease) in cash and cash equivalents during the year (A+B+C) 2,720 (2,054)
Cash and cash equivalents opening balance 2,672 4,726
Cash and cash equivalents closing balance 5,392 2,672

Reconciliation of Cash and cash equivalents with balance sheet

Cash and Cash equivalents as per Balance Sheet 5,392 2,672
Cash and cash equivalents at the end of the year as per cash flow statement above 5,392 2,672

Cash and cash equivalents at the end of the year as above comprises:
Cash on hand 0 0
Balances with banks
- in current accounts 4,402 1,892
- in fixed deposits 990 780
5,392 2,672

3 The above audited financial results has been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 28
May 2024.

4 Segment information
The Chief Operating Decision Maker reviews the operations of the Company as a real estate development and related activity, which is considered to be the only
reportable segment by the Management. Hence, there are no additional disclosures to be provided under Ind-AS 108 - Segment information with respect to the
single reportable segment, other than those already provided in these financial statements. The Company is domiciled in India. The Company's revenue from
operations from external customers relate to real estate development in India and the non-current assets of the Company are located in India.

5 The Company had entered into a registered Joint Development Agreement (JDA) with a certain land owner (the "Land Owner Company") to develop a real estate
project ("the Project"). Under the said JDA, the Company acquired development rights over a certain parcel of land of the Land Owner Company and in exchange
was required to provide the Land Owner Company a share in the Project (the "Land Owner Company's share"). The Company had incurred Transferrable
Development Rights (TDR's) which are recoverable from the Land Owner Company. The Company has certain pending claims (including gross receivables of Rs.
923 Million including towards TDRs) from the Land Owner Company.

Considering the rights of the Company under the JDA, the status of development achieved so far in the Project; the Escrow arrangement with the Company, Land
Owner Company and the Lender of the Land Owner Company (to whom the Land Owner Company's share of developed units have been mortgaged), which
provides for manner of recovery of TDR dues; the fact that the handing over formalities of the underlying units are yet to be completed, the Company expects to
recover the above gross dues towards TDR's.

The Land Owner Company has been ordered to be wound up by the Hon'ble High Court of Karnataka during the year ended 31 March 2017, which is pending
adjudication. Pending ultimate outcome of the aforesaid legal proceedings, the management is of the view that no further adjustments are required in the
financial results.

6 During the year ended 31 March 2023, the Company had recognised deferred consideration of Rs. 204 Million as an exceptional item pursuant to definitive
agreements entered by the Company to transfer certain investments and completed commercial projects on slump sale basis in earlier years.

7 During the year ended 31 March 2024:

a) the Company has acquired through its wholly owned subsidiary, 51% shares in Dashanya Tech Parkz Private Limited. Pursuant to this acquisition, the Company
hold 50% stake in Dashanya Tech Parkz Private Limited on fully diluted basis.
b) the Company has invested in Prestige Vaishnaoi Realty Ventures (formerly known as Sarveshvari Constructions) by way of capital contribution and has been
admitted as partner in the Firm with 50% ownership and economic rights.
c) Prestige Falcon Realty Ventures Private Limited, the wholly owned subsidiary of the Company has retired from Lokhandwala DB Realty LLP. Prestige Acres
Private Limited, a subsidiary of the Company has entered into the LLP as a partner with 50% ownership and economic rights.
d) the Company has acquired through its wholly owned subsidiary, 48.07% shares in Techzone Technologies Private Limited.
e) the Company has acquired through its wholly owned subsidiary, balance stake in Prestige (BKC) Realtors Private Limited and Turf Estate Joint Venture LLP,
pursuant to this acquisition, the Company hold 100% interest in these entities and 99.99% interest in Evergreen Industrial Estate (Subsidiary of Turf Estate Joint
Venture LLP), resulting in gain of control.
f) the Company has acquired additional 50% partnership interest in Prestige Realty Ventures, the Company thus hold 99.90% interest in these entities, resulting
in gain of control.
 PRESTIGE ESTATES PROJECTS LIMITED

AS--
/D
restiA..e
GROUP—
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
Statement of Standalone Audited Financial Results for the quarter and year ended 31 March 2024

8 Formulas used for computation of ratios and other disclosures:

(a) Debt represents borrowings (current and non current) outstanding as at reporting date.
(b) Networth or Equity represents paid up equity share capital plus other equity.
(c) Debt Equity ratio: Debt/ Equity.
(d) Debt service coverage ratio: Net profit before interest and tax (EBIT) / [Interest + Principal repayments during the year/ period]. Interest represents interest
charged.
(e) Interest service coverage ratio: EBIT/ Interest charged.
(f) Current ratio: Current assets/ Current liabilities.
(g) Long term debt to working capital: Non current borrowings / (Current assets less current liabilities).
(h) Bad debts to accounts receivable ratio: Bad debts/ Average trade receivables.
(i) Current liability ratio: Total current liabilities/ Total liabilities.
(j) Total debts to total assets: Total debt / Total assets (Non current assets and current assets).
(k) Debtors turnover: Revenue from operations / Average trade receivables.
(I) Inventory turnover: Revenue from operations / Average inventories.
(m) Operating margin: (Net profit before interest, tax, depreciation and amortisation (EBITDA) - Other Income) / Revenue from operations.
(n) Net profit margin: Net profit after tax (including exceptional items) / Revenue from operations.
(o) During the year ended 31 March 2022, the Company had issued listed non-convertible debentures (NCDs) (a) 2,400 Series A Debentures and (b) 2,600 Series B
Debentures, of Rs. 1 Million each aggregating Rs. 5,000 Million. The Security cover required in respect of these NCDs is more than 1.50 times (i.e. 2.01 times).
These NCDs are secured by way of exclusive charge on the property situated in Bengaluru owned by the Company and immovable properties situated in Goa and
Bidadi owned by its subsidiary.

9 The Board of Directors of the Company have recommended to the Members for their approval, Final Dividend of Rs. 1.80 per share for the financial year ended 31
March 2024. The said proposed dividend is subject to approval at the ensuing Annual General Meeting and is not recognised as a liability as at 31 March 2024.

10 The figures for the quarter ended 31 March 2024 and for the corresponding quarter ended 31 March 2023 are the balancing figures between the audited figures in
respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year ending 31 March.

For and on behalf of Board of Directors of

Prestige Estates Projects Limited

Chairman and anaging Director 1ES

t4.?
Place: Bengaluru
Date: 28 May 2024 C-D Bangalore. `2,
co
ts,
 12th Floor
S.R. BATLIBOI & ASSOCIATES LLP "UB City" Canberra Block
No. 24, Vittal Mallya Road
Chartered Accountants Bengaluru - 560 001, India
Tel : +91 80 6648 9000
Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the
Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

To
The Board of Directors of
Prestige Estates Projects Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of
Prestige Estates Projects Limited ("Holding Company") and its subsidiaries (the Holding Company and its
subsidiaries together referred to as "the Group") and its jointly controlled entities for the quarter ended March 31,
2024 and for the year ended March 31, 2024 ("Statement"), attached herewith, being submitted by the Holding
Company pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended ("Listing Regulations")

In our opinion and to the best of our information and according to the explanations given to us and based on the
consideration of the reports of the other auditors on separate audited financial statements/ financial
results/financial information of the subsidiaries and jointly controlled entities, the Statement:

includes the results of the following entities;

SI.
Name of the entities
No.

A Parent Company

1 Prestige Estates Projects Limited

B Subsidiaries
1 Ace Realty Ventures
2 Albert Properties
3 Apex Realty Management Private Limited
4 Apex Realty Ventures LLP
5 Prestige Mulund Realty Private Limited
6 Avyakth Cold Storages Private Limited
7 Dollars Hotel & Resorts Private Limited
8 Eden Investments & Estates
9 ICBI (India) Private Limited
10 K2K Infrastructure (India) Private Limited
11 Kochi Cyber Greens Private Limited
12 Morph
13 Northland Holding Company Private Limited
14 Prestige AAA Investments
15 Prestige Acres Private Limited
16 Prestige Alta Vista Holdings
17 Prestige Bidadi Holdings Private Limited

S.R. Bat!iboi & Associates L:_P, a Limited Jability Partnership with LL? identity No. AAS-d295
Recd. Office : 22_ Carnac Street, Block 'B', 37- d Floor, Kolkata-700 016
S.R. BATLI1301 & ASSOCIATES LLP
Chartered Accountants

SI.
Name of the entities
No.

18 Prestige Builders and Developers Private Limited

19 Prestige Century Megacity
20 Prestige Century Landmark
21 Prestige Construction Ventures Private Limited
22 Prestige Devenahalli Developers LLP
23 Prestige Exora Business Parks Limited
24 Prestige Falcon Business Parks
25 Prestige Falcon Malls Private Limited

26 Prestige Falcon Mumbai Realty Private Limited

27 Prestige Falcon Realty Ventures Private Limited
28 Prestige Garden Estates Private Limited
29 Prestige Garden Resorts Private Limited
30 Prestige Habitat Ventures
31 Prestige Warehousing And Cold Storage Services Private Limited
32 Prestige Hospitality Ventures Limited
33 Prestige Kammanahalli Investments
34 Prestige Leisure Resorts Private Limited
35 Prestige Mall Management Private Limited
36 Prestige Nottinghill Investments
37 Prestige Office Ventures
38 Prestige OMR Ventures LLP
39 Prestige Ozone Properties
40 Prestige Pallavaram Ventures
41 Prestige Projects Private Limited
42 Prestige Property Management & Services
43 Prestige Retail Ventures Limited
44 Prestige Southcity Holdings
45 Prestige Sterling Infraprojects Private Limited
46 Prestige Sunrise Investments
47 Prestige Valley View Estates LLP
48 Prestige Whitefield Developers
49 Prestige Whitefield Investment and Developers LLP
50 PSN Property Management and Services
51 Sai Chakra Hotels Private Limited
52 Shipco Infrastructure Private Limited
53 Silver Oak Projects
54 Southeast Realty Ventures
55 The QS Company
56 Village-De-Nandi Private Limited
57 Villaland Developers LLP
S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants

SI.
Name of the entities
No.

58 West Palm Developments LLP

59 Prestige Estates Projects Corp
Prestige (BKC) Realtors Private Limited (w.e.f September 15, 2023, was a jointly controlled
60
entity till September 14, 2023)
Turf Estate Joint Venture LLP (w.e.f August 29.2023, was a jointly controlled entity till
61
August 28, 2023)
Evergreen Industrial Estate (w.e.f August 29, 2023, was a jointly controlled entity till
62
August 28, 2023)
63 Prestige Lonavala Estates Private Limited (w.e.f. December 15, 2023)
Prestige Realty Ventures (w.e.f March 29, 2024, was a jointly controlled entity till March
64
28, 2024)

C Jointly Controlled entities

I Bamboo Hotels and Global Centre (Delhi) Private Limited
2 Worli Urban Development Project LLP (formerly known as Lokhandwala DB Realty LLP)
3 Pandora Projects Private Limited
4 Prestige MRG Eco Ventures
5 Thomsun Realtors Private Limited
6 Dashanya Tech Parkz Private Limited
7 Prestige Beta Projects Private Limited
8 Prestige Vaishnaoi Realty Ventures (w.e.f. April 3, 2023)
9 Prestige Vaishnaoi Projects (w.e.f. May 9, 2023)
10 Techzone Technologies Private Limited (w.e.f May 23, 2023)

ii. are presented in accordance with the requirements of the Listing Regulations in this regard; and
iii. gives a true and fair view in conformity with the applicable accounting standards, and other
accounting principles generally accepted in India, of the consolidated net profit and other
comprehensive income and other financial information of the Group for the quarter ended
March 31, 2024 and for the year ended March 31, 2024.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10)
of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further
described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our
report. We are independent of the Group and its jointly controlled entities in accordance with the 'Code of Ethics'
issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant
to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We
believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other
Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note 5 to the Statement, regarding certain pending claims (including gross receivables of
Rs. 923 million) of the Holding Company from a land owner, against whom winding up petitions have been
ordered by the Hon'ble High Court of Karnataka. Pending the ultimate outcome of the aforesaid legal proceedings,
SR. BATLIBOI & ASSOCIATES LLP
Chartered Accountants

no further adjustments have been made to the accompanying financial results in this regard. Our opinion is not
modified in respect of this matter.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding
Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a
true and fair view of the net profit and other comprehensive income and other financial information of the Group
including its jointly controlled entities in accordance with the applicable accounting standards prescribed under
section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally
accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. The respective Board
of Directors of the companies and management of the partnership entities included in the Group and of its jointly
controlled entities are responsible for maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of their respective companies and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and
are free from material misstatement, whether due to fraud or error, which have been used for the purpose of
preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies and management of the partnership
entities included in the Group and of its jointly controlled entities are responsible for assessing the ability of their
respective companies to continue as a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management either intends to liquidate the Group or to
cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies and management of the partnership entities included in the
Group and jointly controlled entities are also responsible for overseeing the financial reporting process of their
respective companies/entities.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances. Under Section 143(3)(i) of the Act,
we are also responsible for expressing our opinion on whether the company has adequate internal
financial controls with reference to financial statements in place and the operating
effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the ability of the Group and its jointly controlled entities to
S.R. BATLIBOI & ASSOCIATES UP
Chartered Accountants

continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the
date of our auditor's report. However, future events or conditions may cause the Group and its jointly
controlled entities to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and
whether the Statement represent the underlying transactions and events in a manner that achieves fair
presentation.
• Obtain sufficient appropriate audit evidence regarding the financial statements/financial results/financial
information of the entities within the Group and its jointly controlled entities of which we are the
independent auditors, to express an opinion on the Statement. We are responsible for the direction,
supervision and performance of the audit of the financial information of such entities included in the
Statement of which we are the independent auditors. For the other entities included in the Statement,
which have been audited by other auditors, such other auditors remain responsible for the direction,
supervision and performance of the audits carried out by them. We remain solely responsible for our
audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included
in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit. We also provide those charged with governance with a statement that we have complied
with relevant ethical requirements regarding independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29,
2019, issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the
extent applicable.

Other Matter

The accompanying Statement includes the audited financial results/statements and other financial information, in
respect of:
• 58 subsidiaries, whose financial results/statements include total assets of Rs. 300,535 million as at March
31, 2024, total revenues of Rs. 13,569 million and Rs. 44,414 million, total net profit/(loss) after tax of
Rs. 1,355 million and Rs. 8,334 million, total comprehensive income/(loss) of Rs. 1,358 million and Rs.
8,337 million, for the quarter and the year ended on that date respectively, and net cash (outflows)/inflows
of Rs. 3,534 million for the year ended March 31, 2024, as considered in the Statement which have been
audited by their respective independent auditors.
• 12 jointly controlled entities, whose financial results/statements include Group's share of net profit/(loss)
of Rs. 413 million and Rs. 238 million and Group's share of total comprehensive income/(loss) of Rs.
418 million and Rs. 243 million for the quarter and for the year ended March 31, 2024, respectively, as
considered in the Statement whose financial results/financial statements, other financial information have
been audited by their respective independent auditors.

The independent auditor's report on the financial statements/financial results/financial information of these
entities have been furnished to us by the Management and our opinion on the Statement in so far as it relates to
the amounts and disclosures included in respect of these subsidiaries and jointly controlled entities is based solely
on the reports of such auditors and the procedures performed by us as stated in paragraph above.

The accompanying Statement includes unaudited financial results/statements and other unaudited financial
infonnation in respect of:
• 1 subsidiary, whose financial results/statements and other financial information reflect total assets of Rs.
Nil as at March 31, 2024, and total revenues of Rs. Nil and Rs. Nil, total net profit/(loss) after tax of Rs.
Nil and Rs. Nil, total comprehensive income/(loss) of Rs. Nil and Rs. Nil, for the quarter and the year
ended on that date respectively and net cash outflows/(inflows) of Rs. Nil for the year ended March 31.
2024, whose financial results /statements and other financial information have not been audited by any
auditor.
S.R. BATLIBOI & ASSOCIATES LLP
Chartered Accountants

These unaudited financial statements/financial information/financial results have been approved and furnished to
us by the Management and our opinion on the Statement, in so far as it relates to the amounts and disclosures
included in respect of the subsidiary, is based solely on such unaudited financial statements/financial
information/financial results. In our opinion and according to the information and explanations given to us by the
Management, these financial statements/financial information/financial results are not material to the Group.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the
work done and the reports of the other auditors and the financial statements/financial Results/financial information
certified by the Management.

The Statement includes the results for the quarter ended March 31, 2024 being the balancing figures between the
audited figures in respect of the full financial year ended March 31, 2024 and the published unaudited year-to-
date figures up to the end of the third quarter of the current financial year, which were subjected to a limited
review by us, as required under the Listing Regulations.

For S.R. Batliboi & ssociates LLP

Chartered Accounta n ts
ICAI Firm Registration Number:101049W/E300004

per Sudhi ar ain

Partner
Membershi o: 213157

UDIN: 24213157BKFNHT9444

Place: Bengaluru
Date: May 28, 2024
 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
-4-- CIN: L07010KA1997PLCO22322
Prcrestise Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2024

(Rs. In Million)
Quarter ended Year ended
SI 31 Mar 2024 31 Dec 2023 31 Mar 2023 31 Mar 2024 31 Mar 2023
Particulars
No (Audited Refer (Unaudited) (Audited Refer (Audited) (Audited)
Note 11) Note 11)
1 Income
Revenue from operations 21,640 17,958 26,318 78,771 83,150
Other income 685 1,747 3,062 15,482 4,570
Total income 22,325 19,705 29,380 94,253 87,720
2 Expenses
(Increase)/ decrease in inventory (22,706) (17,304) (7,758) (57,360) (22,312)
Contractor cost 10,260 9,825 9,236 32,283 25,924
Purchase of materials 1,986 1,831 2,833 7,015 6,553
Land cost 16,070 10,860 8,453 44,985 30,594
Employee benefits expense 2,137 1,916 1,568 7,467 6,034
Finance costs 4,238 2,932 2,347 12,191 8,066
Depreciation and amortisation expense 1,972 1,797 1,679 7,165 6,471
Other expenses 5,616 5,315 5,168 19,397 15,494
Total expenses 19,573 17,172 23,526 73,143 76,824
3 Profit before exceptional items (1-2) 2,752 2,533 5,854 21,110 10,896
4 Exceptional items (Refer Note 6) - 119 - 3,079
5 Profit before Share of profit from jointly controlled entities (3+4) 2,752 2,533 5,973 21,110 13,975
6 Share of profit / (loss) from jointly controlled entities (net of tax) 393 (163) 231 113 168
7 Profit before tax (5+6) 3,145 2,370 6,204 21,223 14,143
8 Tax expense
Current tax 907 613 205 3,108 2,591
Deferred tax (121) 110 945 1,828 884
Total tax expense 786 723 1,150 4,936 3,475
9 Net profit for the period/ year (7-8) 2,359 1,647 5,054 16,287 10,668
10 Other comprehensive income
Items that will not be recycled to profit or loss
Remeasurement of the defined benefit liabilities 3 (5) (27) (7) (13)
Tax impact (1) 2 9 2 4
11 Total comprehensive income for the period/ year [Comprising Net 2,361 1,644 5,036 16,282 10,659
profit for the period and Other comprehensive income (after tax)]
(9+10)
12 Profit for the period/year attributable to:
Shareholders of the Company 1,400 1,163 4,684 13,741 9,418
Non controlling interests 959 484 370 2,546 1,250
13 Other comprehensive income for the period/ year attributable to:
Shareholders of the Company 2 (3) (18) (5) (9)
Non controlling interests - -
14 Total comprehensive income for the period/ year attributable to:
Shareholders of the Company 1,402 1,160 4,666 13,736 9,409
Non controlling interests 959 484 370 2,546 1,250
15 Paid-up equity share capital (Face Value of Rs.10/- per Share) 4,009 4,009 4,009 4,009 4,009
16 Earnings Per Share* (Face Value of Rs.10/- per Share)
a) Basic 3.49 2.90 11.68 34.28 23.49
b) Diluted 3.49 2.90 11.68 34.28 23.49
17 Ratios and Other Disclosure* (Refer Note 9)
a) Debt 1,14,623 99,213 81,208 1,14,623 81,208
b) Net worth 1,12,888 1,11,486 99,753 1,12,888 99,753
c) Reserves excluding revaluation reserve 1,08,879 1,07,477 95,744 1,08,879 95,744
d) Debenture redemption reserve (DRR) 1,115 687 1,018 1,115 1,018
e) Debt equity ratio 1.02 0.89 0.81 1.02 0.81
f) Debt service coverage ratio 0.35 0.76 0.93 0.78 0.67
g) Interest service coverage ratio 1.59 1.75 3.22 2.58 2.26
h) Capital redemption reserve (CRR) - - -
i) Current ratio 1.19 1.14 1.12 1.19 1.12
j) Long term debt to working capital 0.89 1.22 1.68 0.89 1.68
k) Bad debts to accounts receivable ratio - 0.00 0.00 0.00 0.00
I) Current liability ratio 0.80 0.81 0.81 0.80 0.81
m) Total debt to total assets 0.24 0.22 0.22 0.24 0.22
n) Debtors turnover 1.67 1.53 2.09 6.15 6.05
o) Inventory turnover 0.09 0.09 0.19 0.41 0.64
p) Operating margin % 38.25% 30.71% 25.91% 31.72% 25.09%
q) Net profit margin % 10.90% 9.17% 19.20% 20.68% 12.83%

See accompanying notes to financial rtot*F s -7,"....„

Not annualised for the quarter.
 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
PrestOe Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2024

Notes to financial results

1 Statement of Assets and Liabilities

(Rs. In Million)
As at As at
Particulars 31 Mar 2024 31 Mar 2023
(Audited) (Audited)

A. ASSETS
(1) Non-current assets
(a) Property, plant and equipment 27,484 24,952
(b) Capital work-in-progress 21,372 23,987
(c) Investment property 58,611 42,272
(d) Goodwill 534 534
(e) Other intangible assets 63 47
(f) Investments in associates and joint venture 4,033 5,589
(g) Financial assets
(i) Investments 341 4,625
(ii) Loans 3,263 7,115
(iii) Other financial assets 4,004 6,494
(h) Deferred tax assets (net) 6,288 5,582
(i) Income tax assets (net) 4,693 3,871
(j) Other non-current assets 1,090 1,179
Sub-total 1,31,776 1,26,247
(2) Current assets
(a) Inventories 2,41,562 1,43,671
(b) Financial assets
(i) Investments 8,412 14
(ii) Trade receivables 12,340 13,286
(iii) Cash and cash equivalents 22,679 14,564
(iv) Bank balances other than cash and cash equivalents 2,903 3,582
(v) Loans 19,629 29,551
(vi) Other financial assets 19,453 12,556
(c) Other current assets 26,433 22,358
Sub-total 3,53,411 2,39,582

Total 4,85,187 3,65,829

B. EQUITY AND LIABILITIES

(1) Equity
(a) Equity share capital 4,009 4,009
(b) Other Equity 1,08,879 95,744
Equity Attributable to Owners of the Company 1,12,888 99,753
(c) Non controlling interest 5,122 2,832
Sub-total 1,18,010 1,02,585
(2) Non-current liabilities
(a) Financial liabilities
(i) Borrowings 45,545 34,100
(ii) Lease liabilities 17,422 9,502
(iii) Other financial liabilities 1,134 1,167
(b) Deferred tax liabilities (net) 5,447 3,118
(c) Other non-current liabilities 203 321
(d) Provisions 444 363
Sub-total 70,195 48,571
(3) Current liabilities
(a) Financial liabilities
(i) Borrowings 69,078 47,108
(ii) Lease liabilities 2,535 3,489
(iii) Trade payables 16,574 14,514
(iv) Other financial liabilities 21,926 16,495
(b) Other current liabilities 1,79,234 1,27,559
(c) Provisions 6,943 4,771
(d) Income tax liabilities (net) 692 737
Sub-total 2,96,982 2,14,673

1F
./1:: S --''s. Total 4,85,187 3,65,829

Lti C)
w Bangalore.
 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
estip
PrGROU Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2024

2 Consolidated statement of cash flows

(Rs. In Million)
Year ended
Particulars 31 Mar 2024 31 Mar 2023
(Audited) (Audited)
Cash flow from operating activities :
Net Profit before tax 21,223 14,143
Add: Expenses / debits considered separately
Depreciation and amortisation 7,165 6,471
Finance costs 12,191 8,066
Loss on redemption of investments - 5
Loss on sale of property, plant and equipment and investment property - 10
Expected Credit loss allowance on receivables 17 29
Sub-total 19,373 14,581
Less: Incomes / credits considered separately
Interest income 2,308 1,463
Share of profit from associates/ jointly controlled entities (net) 113 168
Gain on disposal of joint ventures 8,512
Fair value gain on financial instruments 3,919 2,661
Dividend income 192 -
Profit on loss of control - 3,079
Profit on sale of property, plant and equipment / investment property 32 252
Sub-total 15,076 7,623
Operating profit before changes in working capital 25,520 21,101
Adjustments for:
(Increase) / decrease in trade receivables 2,096 1,181
(Increase) / decrease in inventories (54,502) (22,030)
(Increase) / decrease in loans and financial assets (1,752) (2,501)
(Increase) / decrease in other assets (1,329) (4,926)
Increase / (decrease) in trade payables 533 4,456
Increase / (decrease) in other financial liabilities 5,228 3,321
Increase / (decrease) in other liabilities 40,319 21,060
Increase / (decrease) in provisions 1,024 (2,979)
(8,383) (2,418)
Cash generated from operations 17,137 18,683
Income taxes paid (4,164) (3,288)
Net cash generated from operating activities - A 12,973 15,395

Cash flow from investing activities

Capital expenditure on investment property, property plant and equipment and intangible assets
(including capital work-in-progress) (19,067) (16,502)
Consideration paid for acquisition of subsidiaries (9,787) -
Sale proceeds of property plant and equipment and investment property 64 496
Decrease / (increase) in inter corporate deposits given 9,168 (6,423)
Investments in bank deposits (having original maturity of more than three months) (294) (2,688)
Deferred consideration received (Refer Note 6) - 3,079
Decrease / (increase) in partnership current account (8,157) (6,926)
Investments disposed 5
Investments made (346) 177
Interest received 2,745 1,221
Dividend received 192 -
Net cash from / (used in) investing activities - B (25,482) (27,561)

Cash flow from financing activities

Secured loans availed 63,661 36,454
Secured loans repaid (34,152) (19,427)
Decrease / (increase) in inter corporate deposits taken 3,201 (922)
Dividend payout including tax (601) (601)
Finance costs paid (12,161) (7,412)
Contribution / (withdrawals) by non controlling interest holders (256) (2,637)
Net cash from / (used in) financing activities - C 19,692 5,455

Total increase / (decrease) in cash and cash equivalents during the year (A+B+C) 7,183 (6,711)
Cash and cash equivalents opening balance 14,564 20,685
Add: Cash acquired on acquisition of subsidiaries 932 590
Cash and cash equivalents closing balance 22,679 14,564

(ty
Bengaluru f,D,
 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2024

Year ended
Particulars 31 Mar 2024 31 Mar 2023
(Audited) (Audited)

Cash and cash equivalents at the end of the year as above comprises:
Cash on hand 4 3
Balances with banks
- in current accounts 17,168 9,993
- in fixed deposits 5,507 4,568
22,679 14,564

3 The above audited financial results has been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings
held on 28 May 2024.

4 Segment information
The Chief Operating Decision Maker reviews the operations of the Group as a real estate development and related activity, which is considered to be
the only reportable segment by the Management. Hence, there are no additional disclosures to be provided under Ind-AS 108 - Segment information
with respect to the single reportable segment, other than those already provided in these financial statements. The Group is domiciled in India. The
Group's revenue from operations from external customers relate to real estate development in India and the non-current assets of the Group are
located in India.

5 The Company had entered into a registered Joint Development Agreement (JDA) with a certain land owner (the "Land Owner Company") to develop a
real estate project ("the Project"). Under the said JDA, the Company acquired development rights over a certain parcel of land of the Land Owner
Company and in exchange was required to provide the Land Owner Company a share in the Project (the "Land Owner Company's share"). The
Company had incurred Transferrable Development Rights (TDR's) which are recoverable from the Land Owner Company. The Company has certain
pending claims (including gross receivables of Rs. 923 Million including towards TDRs) from the Land Owner Company.

Considering the rights of the Company under the JDA, the status of development achieved so far in the Project; the Escrow arrangement with the
Company, Land Owner Company and the Lender of the Land Owner Company (to whom the Land Owner Company's share of developed units have
been mortgaged), which provides for manner of recovery of TDR dues; the fact that the handing over formalities of the underlying units are yet to be
completed, the Company expects to recover the above gross dues towards TDR's.

The Land Owner Company has been ordered to be wound up by the Hon'ble High Court of Karnataka during the year ended 31 March 2017, which Is
pending adjudication. Pending ultimate outcome of the aforesaid legal proceedings, the management is of the view that no further adjustments are
required in the financial results.

6 During the quarter ended 31 March 2023 and year ended 31 March 2023, the Group had recognised deferred consideration of Rs. 119 Million and Rs.
3,079 Million as an exceptional items pursuant to definitive agreements entered by the Group to transfer certain investments and completed
commercial projects on slump sale basis in earlier years.

7 During the year ended 31 March 2024:

a) the Group has acquired 51% shares in Dashanya Tech Parkz Private Limited. Pursuant to this acquisition, the Group hold 50% stake in Dashanya Tech
Parkz Private Limited on fully diluted basis.
b) the Group has invested in Prestige Vaishnaoi Realty Ventures (formerly known as Sarveshvari Constructions) by way of capital contribution and has
been admitted as partner in the Firm with 50% ownership and economic rights.
c) Prestige Falcon Realty Ventures Private Limited, the wholly owned subsidiary of the Company has retired from Lokhandwala DB Realty LLP. Prestige
Acres Private Limited, a subsidiary of the Company has entered into the LLP as a partner with 50% ownership and economic rights.
d) the Group has acquired 48.07% shares in Techzone Technologies Private Limited.
e) the Group has acquired, balance stake in Prestige (BKC) Realtors Private Limited and Turf Estate Joint Venture LLP, pursuant to this acquisition, the
Group holds 100% interest in these entities and 99.99% Interest in Evergreen Industrial Estate (Subsidiary of Turf Estate Joint Venture LLP), thereby
gaining control and recognition of Rs. 8,512 Million, included in "Other income" for the year ended 31 March 2024.
f) the Group has acquired additional 50% partnership interest in Prestige Realty Ventures, the Group thus hold 99.90% interest in these entities,
resulting in gain of control.

8 The figures of standalone financial results are as follow:

(Rs. In Million)
Quarter ended Year ended
Particulars 31 Mar 2024 31 Dec 2023 31 Mar 2023 31 Mar 2024 31 Mar 2023
(Audited Refer (Unaudited) (Audited Refer (Audited) (Audited)
Note 11) Note 11)

Revenue from operations 5,778 5,787 12,641 26,512 43,297

Profit before tax 326 108 540 2,232 4,150
Profit after tax 667 111 452 2,458 3,409

The audited standalone financial results for the quarter and year ended 31 March 2024 can be viewed on the Company's website
www.prestigeconstructions.com and can also be viewed on the website of NSE and BSE.
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 PRESTIGE ESTATES PROJECTS LIMITED
REGD OFFICE: PRESTIGE FALCON TOWER NO.19, BRUNTON ROAD BENGALURU 560025
CIN: L07010KA1997PLCO22322
Prestp Statement of Consolidated Audited Financial Results for the quarter and year ended 31 March 2024

9 Formulas used for computation of ratios and other disclosures:

(a) Debt represents borrowings (current and non current) outstanding as at reporting date.
(b) Networth represents equity attributable to owners of the Company.
(c) Debt Equity ratio: Debt/ Equity.
(d) Debt service coverage ratio: Net profit before interest and tax (EBIT) / [Interest + Principal repayments during the year/ period]. Interest represents
interest charged.
(e) Interest service coverage ratio: EBIT/ Interest charged.
(f) Current ratio: Current assets/ Current liabilities.
(g) Long term debt to working capital: Non current borrowings / (Current assets less current liabilities).
(h) Bad debts to accounts receivable ratio: Bad debts/ Average trade receivables.
(i) Current liability ratio: Total current liabilities/ Total liabilities.
(j) Total debts to total assets: Total debt / Total assets (Non current assets and current assets).
(k) Debtors turnover: Revenue from operations / Average trade receivables.
(I) Inventory turnover: Revenue from operations / Average inventories.
(m) Operating margin: (Net profit before interest, tax, depreciation and amortisation (EBITDA) - Other Income) / Revenue from operations.
(n) Net profit margin: Net profit after tax (including exceptional items) / Revenue from operations.
(o) During the year ended 31 March 2022, the Company had issued listed non-convertible debentures (NCDs) (a) 2,400 Series A Debentures and (b) 2,600
Series B Debentures, of Rs. 1 Million each aggregating Rs. 5,000 Million. The Security cover required in respect of these NCDs is more than 1.50 times
(i.e. 2.01 times). These NCDs are secured by way of exclusive charge on the property situated in Bengaluru owned by the Company and immovable
properties situated in Goa and Bidadi owned by its subsidiary.

10 The Board of Directors of the Company have recommended to the Members for their approval, Final Dividend of Rs. 1.80 per share for the financial
year ended 31 March 2024. The said proposed dividend is subject to approval at the ensuing Annual General Meeting and is not recognised as a
liability as at 31 March 2024.

11 The figures for the quarter ended 31 March 2024 and for the corresponding quarter ended 31 March 2023 are the balancing figures between the
audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial year ending
31 March.

For and on behalf of Board of Directors of

Prestige Estates Projects Limited

Ida
Chairman and anaging Director 1ES

Place: Bengaluru cu
Date: 28 May 2024 (.0 Bangalore. SI,'