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Buy Prestige Estates Projects Ltd For Target Rs.2,130 By Motilal Oswal Financial Services Ltd Steady pre-sales; ask rate high for 2H but achievable Launches key monitorable; net D/E under control after the QIP * Prestige Estates Projects (PEPL) reported bookings of INR40.2b, down 43% YoY but up 33% QoQ (in line), due to muted launches and lower inventory. * PEPL launched 8.2msf vs. 1.9msf in 1QFY24 and 0.8msf in 4QFY24. Further, it had an inventory of INR13b at the end of the quarter (vs. INR13b at the beginning of 4QFY24), indicating very low inventory overhang months. * ...
Buy Prestige Estates Projects Ltd For Target Rs.2,130 By Motilal Oswal Financial Services Ltd
Buy Prestige Estates Projects Ltd For Target Rs.2,130 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-15 11:14:31 am
Prestige Estates declines on logging 43% fall in sales in Q2FY25 Prestige Estates Projects is currently trading at Rs. 1748.35, down by 45.55 points or 2.54% from its previous closing of Rs. 1793.90 on the BSE. The scrip opened at Rs. 1750.10 and has touched a high and low of Rs. 1774.75 and Rs. 1730.55 respectively. So far 22165 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2072.75 on 24-Jun-2024 and a 52 week low of Rs. 712.00 on 23-Oct-2023. Last one week high and low o...
Prestige Estates declines on logging 43% fall in sales in Q2FY25
Prestige Estates declines on logging 43% fall in sales in Q2FY25
Source: Accord Fintech
2024-10-18 02:02:02 pm
Accumulate Prestige Estates Projects Ltd For Target Rs..1,822 By Geojit Financial Services Ltd Capex to drive revenue.. Prestige Estates Projects Ltd. (PEPL) is India's leading real estate developer in terms of booking value. Its expansion is driven by a diverse portfolio spanning tier 1 and tier 2 cities, with a strategic focus on Mumbai and Hyderabad for robust growth. * In Q1FY25, Prestige reported a 23% YoY decline in pre-sales due to muted launches (1.9msf) and minimal inventory. * Area sold in the quarter dipped to 2.9msf (-25% YoY), with an average realization of Rs...
Accumulate Prestige Estates Projects Ltd For Target Rs..1,822 By Geojit Financial Services Ltd
Accumulate Prestige Estates Projects Ltd For Target Rs..1,822 By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-08-08 12:15:09 pm
India's Prestige Estates Projects posts Q1 profit fall on lower sales Indian real estate developer Prestige Estates Projects posted a 12% fall in first-quarter profit on Wednesday - its third straight quarterly profit fall - hurt by lower sales and fewer launches. The company said its consolidated net profit fell to 2.33 billion rupees($27.9 million) for the quarter ended June 30 from 2.67 billion rupees a year ago. It sold 1,364 units during the quarter, marking a 40% decline year on year. For further earnings highlights: click (Full story) KEY CON...
India's Prestige Estates Projects posts Q1 profit fall on lower sales
India's Prestige Estates Projects posts Q1 profit fall on lower sales
Source: Reuters
2024-08-01 12:06:46 pm
Buy Prestige Estates Projects Ltd For Target Rs. 3,021 By Yes Securities Switch to PEPL from OBER/DLFU to capture growth Our view Prestige Estates Projects (PEPL) has achieved the presales of Rs210bn for FY24 and guided Rs260-270bn presales for FY25 on the back of a strong launch pipeline of Rs600bn GDV and Rs120bn ongoing inventory. We valued the residential business at Rs273bn. Company also plans to take its annuity multifold to Rs50bn in next 2-3years, which we valued cumulatively at Rs410bn at 11.7% WACC and 8% Cap rate for office (6.5% for retail). As ...
Buy Prestige Estates Projects Ltd For Target Rs. 3,021 By Yes Securities
Buy Prestige Estates Projects Ltd For Target Rs. 3,021 By Yes Securities
Source: Yes Securities
2024-07-09 11:45:22 am
Buy Prestige Estates Projects Ltd. For Target Rs. 1,825 By Motilal Oswal Financial Services Record year of pre-sales; traction to continue Targeting 25% growth in bookings for FY25 * Prestige Estates Projects (PEPL) reported bookings of INR47b in 4QFY24, up 21% YoY (in line) aided by sustained demand across ongoing projects. In FY24, PEPL achieved record bookings of INR210b, up 63% YoY. Of these, ~INR155b came from new launches. In FY24, it also achieved the highest ever launches of 31msf in residential business with a GDV of INR210b.   * Sales volume was flat at 4msf...
Buy Prestige Estates Projects Ltd. For Target Rs. 1,825 By Motilal Oswal Financial Services
Buy Prestige Estates Projects Ltd. For Target Rs. 1,825 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-07-01 06:13:34 pm
India's Prestige Estates Projects approves $599 million fundraise Prestige Estates Projects said on Friday it will raise 50 billion rupees ($598.6 million) by issuing shares to institutional investors. The Indian real estate developer added its board has approved the monetization of its hospitality assets through a share issue and has formed a sub-committee to oversee the process. "The monetizing bid largely means that Prestige will seek greater value for its hospitality business and will likely go for an initial public offering," said Karan...
India's Prestige Estates Projects approves $599 million fundraise
India's Prestige Estates Projects approves $599 million fundraise
Source: Reuters
2024-06-22 10:02:52 am
Buy Prestige Estates Ltd For Target Rs.1,535 - Motilal Oswal Financial Services Growth visibility intact across segments Monetization of hospitality portfolio and platform deal to reduce burden on leverage Expansion in new markets to sustain pre-sales growth momentum * PEPL reported bookings of INR163b in 9MFY24, up 81% YoY and surpassed its initial full-year guidance of INR160b. With INR160b of ongoing project inventory as of Dec’23, the company is on track to achieve its revised presales guidance of INR200b in FY24. * While laying out the roadmap to ...
Buy Prestige Estates Ltd For Target Rs.1,535 - Motilal Oswal Financial Services
Buy Prestige Estates Ltd For Target Rs.1,535 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-04 03:32:12 pm
Buy Prestige Estates Ltd For Target Rs.1,535 - Motilal Oswal Financial Services Expansion in new markets to sustain pre-sales growth momentum * PEPL reported bookings of INR163b in 9MFY24, up 81% YoY and surpassed its initial full-year guidance of INR160b. With INR160b of ongoing project inventory as of Dec’23, the company is on track to achieve its revised presales guidance of INR200b in FY24. * While laying out the roadmap to achieve INR250b of pre-sales by FY26, the company highlighted six key markets (Bengaluru, MMR, Hyderabad, NCR, Pune, and Chennai) tha...
Buy Prestige Estates Ltd For Target Rs.1,535 - Motilal Oswal Financial Services
Buy Prestige Estates Ltd For Target Rs.1,535 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-05-19 11:26:37 am
Accumulate Prestige Estates Projects Ltd for Target Rs. 1227 By Elara Capital Robust pipeline Launches at new highs      Prestige Estates Projects (PEPL IN) registered sales of INR 163bn, up 81% YoY in 9MFY24 and surpassed the entire sales of FY23 by 26%. It achieved daily sales average of 31 units. Around 30msf of new projects were launched, which contributed ~80% to total sales. Collections reached an all-time high of INR 84.7bn, with YoY growth of 20%.    In Q3, sales ...
Accumulate Prestige Estates Projects Ltd for Target Rs. 1227 By Elara Capital
Accumulate Prestige Estates Projects Ltd for Target Rs. 1227 By Elara Capital
Source: Elara Capital
2024-04-11 02:20:40 pm
Prestige Estates Projects gains on reporting 63% rise in sales bookings during FY24 Prestige Estates Projects is currently trading at Rs. 1278.00, up by 2.25 points or 0.18% from its previous closing of Rs. 1275.75 on the BSE. The scrip opened at Rs. 1292.15 and has touched a high and low of Rs. 1317.30 and Rs. 1262.40 respectively. So far 22473 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1440.00 on 15-Jan-2024 and a 52 week low of Rs. 419.90 on 10-Apr-2023. Last one week high and low of t...
Prestige Estates Projects gains on reporting 63% rise in sales bookings during FY24
Prestige Estates Projects gains on reporting 63% rise in sales bookings during FY24
Source: Accord Fintech
2024-04-09 11:47:11 am
Prestige Estates Projects gains as its group acquires around 21 acres of prime land in Bengaluru Prestige Estates Projects is currently trading at Rs. 1314.85, up by 9.60 points or 0.74% from its previous closing of Rs. 1305.25 on the BSE. The scrip opened at Rs. 1338.60 and has touched a high and low of Rs. 1350.00 and Rs. 1298.40 respectively. So far 23416 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1440.00 on 15-Jan-2024 and a 52 week low of Rs. 410.30 on 06-Apr-2023. Last one week high and low of t...
Prestige Estates Projects gains as its group acquires around 21 acres of prime land in Bengaluru
Prestige Estates Projects gains as its group acquires around 21 acres of prime land in Bengaluru
Source: Accord Fintech
2024-04-05 11:02:13 am
Real estate, metal stocks lead sectoral gainers Real estate stocks are the top sectoral gainers on Monday with the index up more than 3 per cent. The BSE Real Estate Index is up 3.86 per cent led by Prestige Estates which is up almost 7 per cent. DLF is up more than 5 per cent, Sobha is up more than 5 per cent, and Lodha is up more than 3 per cent. Prestige Estates was up almost 7 per cent after it announced a strategic deal with the Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The Rs 2,001 crore ($240 million) deal is dedica...
Real estate, metal stocks lead sectoral gainers
Real estate, metal stocks lead sectoral gainers
Source: IANS
2024-04-01 03:17:20 pm
India`s Prestige Estates inks $240 million real estate deal with ADIA, Kotak AIFa Indian real estate developer Prestige Estates Projects has signed a 20.01 billion rupee (about $240 million) deal with the Abu Dhabi Investment Authority and Kotak Alternate Investment Fund to develop residential projects in the country. The deal is to develop residential projects in "prominent locations" across the Indian cities of Bengaluru, Mumbai, Goa, and the National Capital Region, with a combined gross development value of over 180 billion rupees ($2.16 billion), Prestige...
India`s Prestige Estates inks $240 million real estate deal with ADIA, Kotak AIFa
India`s Prestige Estates inks $240 million real estate deal with ADIA, Kotak AIFa
Source: Reuters
2024-04-01 12:07:07 pm
Prestige Estates Projects shines on acquiring 50% partnership interest in Prestige Realty Ventures Prestige Estates Projects is currently trading at Rs. 1245.00, up by 75.05 points or 6.41% from its previous closing of Rs. 1169.95 on the BSE. The scrip opened at Rs. 1185.00 and has touched a high and low of Rs. 1256.10 and Rs. 1185.00 respectively. So far 15444 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1440.00 on 15-Jan-2024 and a 52 week low of Rs. 400.20 on 31-Mar-2023. Last one week high and low of ...
Prestige Estates Projects shines on acquiring 50% partnership interest in Prestige Realty Ventures
Prestige Estates Projects shines on acquiring 50% partnership interest in Prestige Realty Ventures
Source: Accord Fintech
2024-04-01 11:11:28 am
Prestige Estates Projects shines on reporting over 6-fold jump in Q2 consolidated net profit Prestige Estates Projects is currently trading at Rs. 824.55, up by 32.90 points or 4.16% from its previous closing of Rs. 791.65 on the BSE. The scrip opened at Rs. 825.05 and has touched a high and low of Rs. 853.00 and Rs. 818.85 respectively. So far 79551 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 853.00 on 8-Nov-2023 and a 52 week low of Rs. 391.30 on 27-Feb-2023. Last one week high and low of the scr...
Prestige Estates Projects shines on reporting over 6-fold jump in Q2 consolidated net profit
Prestige Estates Projects shines on reporting over 6-fold jump in Q2 consolidated net profit
Source: Accord Fintech
2023-11-08 02:35:53 pm
India's Prestige Estates Projects posts higher Q2 profit on strong housing demand India's Prestige Estates Projects reported a more than six-fold jump in second-quarter profit on Tuesday, aided by a buoyant housing demand. The real estate developer's consolidated net profit rose to 8.51 billion Indian rupees ($102.22 million) in the quarter ended Sept. 30, from 1.41 billion rupees reported a year earlier. It launched five residential projects in the quarter, with sales surging 102% year-on-year to 70.93 billion rupees during the quarter. For further result...
India's Prestige Estates Projects posts higher Q2 profit on strong housing demand
India's Prestige Estates Projects posts higher Q2 profit on strong housing demand
Source: Reuters
2023-11-08 10:47:06 am
Buy Prestige Estates Projects Ltd For Target Rs.900 - Motilal Oswal Financial Services Targeting INR200b pre-sales in FY24 vs. initial guidance of INR160b At the beginning of CY23, Prestige Estates (PEPL) was identified as our top pick for the year due to its robust launch pipeline, ensuring a significant expansion in the residential business. This not only offered visibility for growth but also alleviated concerns regarding leverage. PEPL?s pre-sales grew ~25% YoY in FY23 on a higher base and followed it up with another strong performance in 1HFY24 with bookings of INR110...
Buy Prestige Estates Projects Ltd For Target Rs.900 - Motilal Oswal Financial Services
Buy Prestige Estates Projects Ltd For Target Rs.900 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2023-10-20 12:22:39 pm
Prestige Estates Projects surges on reporting 102% sales growth in Q2FY24 Prestige Estates Projects is currently trading at Rs. 679.50, up by 11.00 points or 1.65% from its previous closing of Rs. 668.50 on the BSE.The scrip opened at Rs. 697.95 and has touched a high and low of Rs. 699.00 and Rs. 674.05 respectively. So far 58286 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 699.00 on 09-Oct-2023 and a 52 week low of Rs. 391.30 on 27-Feb-2023.Last one week high and low of the scrip stood at Rs. 699...
Prestige Estates Projects surges on reporting 102% sales growth in Q2FY24
Prestige Estates Projects surges on reporting 102% sales growth in Q2FY24
Source: Accord Fintech
2023-10-09 12:40:35 pm