Prestige Estates Projects Ltd (PRESTIGE)

Prestige Estates Stock Rises on Higher Allocation to PMAY - 24 Jul, 2024

Prestige Estates stock rises by 5.4% as CLSA predicts the company will benefit from higher allocation to PMAY in FY25. Other realty stocks also see gains.

Prestige Estates Trades Lower After Budget Speech - 23 Jul, 2024

Prestige Estates Projects Ltd is among the real estate stocks that saw a drop of 2% to 6% in their stock prices following Finance Minister Nirmala Sitharaman's budget speech. The Nifty Realty Index has gained 35% in 2024, and stocks like Sobha, Phoenix Mills, and Godrej Properties have gained 55% to 85% so far this year.

Prestige Estates Projects Q1FY25 Pre-Sales Fall - 16 Jul, 2024

Prestige Estates Projects reported a fall in pre-sales to ₹3,030 crore due to lower launches caused by delays in project approvals. The company aims to launch an extensive pipeline of projects across geographies in the upcoming quarters to meet its pre-sales target of 25-30% YoY growth in the current fiscal. The stock's future course hinges on launches and pre-sales trends.

Prestige Estates Sales Decline in Q1 FY25 - 12 Jul, 2024

Prestige Estates Projects Ltd. reported a 22% decrease in sales for the first quarter of FY25 at Rs 3029 crore in Q1 FY24 due to the general election and delays in project approval.

Prestige Estates Reports Dip in Sales - 11 Jul, 2024

Prestige Estates Projects Ltd recorded a 22.6% YoY decline in sales to Rs 3,030 crore in Q1 of FY2024-25 due to delays in project launches and approvals amid the election season. The average realisation for apartments, villas, commercial spaces, and plots rose YoY.

Prestige Estate Projects to Sell Shares Worth Rs 5,000 Crore - 28 Jun, 2024

Prestige Estate Projects plans to sell shares worth Rs 5,000 crore to institutional investors and monetize its hotel business by selling shares of Prestige Hospitality Ventures. The company achieved the highest-ever launches of 31 million sq ft in the residential business with a GDV of Rs 21,000 crore in FY24.

Prestige Estates Receives Positive Ratings from Analysts - 26 Jun, 2024

Morgan Stanley and CLSA have highlighted the attractive valuations and robust pre-sales growth of Prestige Estates Projects Ltd. CLSA has raised its price target to ₹2,320 per share and believes that concerns over lower project pipeline and increased leverage are unwarranted.

Prestige Estates Selects Advisors for Major QIP; Hospitality Arm IPO Soon - 25 Jun, 2024

Prestige Estates Projects has selected four investment banks as advisors for its major qualified institutional placement (QIP) to raise up to Rs 5,000 crore. Additionally, the company's board cleared the proposal to monetise assets of the hospitality segment through Prestige Hospitality Ventures Limited.