Prestige Estates Projects Ltd Share Price (PRESTIGE)

Prestige Estates Projects Ltd Reports Record Sales and Collections for FY24 - 12 Apr, 2024

Prestige Estates Projects Ltd achieved the highest ever annual sales of Rs 21,040 crore for FY24, rising 63% YoY. The company also reported record collections of Rs 11,954 crore for FY24, up 22% YoY. Additionally, Prestige Group attained the highest ever area sold in the year, totalling 20.25 mn sft, up 34% YoY. Antique Broking has a price target of Rs 1,562 while Motilal Oswal has a price target of Rs 1,535 for the real estate stock.

Prestige Estates Projects Receives Positive Ratings from Analysts - 10 Apr, 2024

Prestige Estates Projects Ltd. receives positive ratings from analysts with Morgan Stanley and Motilal Oswal Financial Services both predicting strong growth for the company in FY24.

Prestige Group Achieves Record Home Sales Worth ₹21,040 Crore in FY24 - 09 Apr, 2024

Prestige Group achieved home sales worth ₹21,040 crore in FY24, a 63% YoY increase from the previous year. The achievement sets a new standard for the entire real estate sector.

Prestige Estates Achieves Record Sales in FY24 - 08 Apr, 2024

Prestige Estates achieved the highest ever annual sales by any developer, clocking Rs 21,040 crore in FY24. The company also reported strong Q4 FY24 sales of Rs 4,707 crore and highest ever annual collections of Rs 11,954 crore. Additionally, the company is set to acquire a 21-acre land parcel in Whitefield, Bengaluru for Rs 450 crore.

Prestige Estates Projects Stock Resumes Uptrend - 06 Apr, 2024

After finding support at ₹990, the stock of Prestige Estates Projects has resumed its uptrend and crossed over a barrier at ₹1,230. Analysts anticipate a dip to ₹1,230 followed by a potential recovery to ₹1,540.

Prestige Estates Acquires Land for Residential Project - 05 Apr, 2024

Prestige Estates Projects has acquired 21 acres of prime land in Whitefield, Bengaluru, for Rs 450 crore to develop a residential project spanning 4 million square feet with a projected gross development value (GDV) of Rs 4,500 crore.

Prestige Group Acquires Land for Housing Project - 04 Apr, 2024

Real estate developer Prestige Group has acquired 21 acres of land in Bengaluru's tech corridor, Whitefield, for Rs 450 crore. The land will be used for a residential development spanning approximately 4 million sq ft and is expected to generate a gross development value (GDV) of Rs 4,500 crore.

Prestige Estates Reports Strong Bookings and Buy Rating from Motilal Oswal - 03 Apr, 2024

Prestige Estates Projects Ltd has reported strong bookings for 9MFY24 and is on track to achieve its revised presales guidance for FY24. Motilal Oswal has recommended a 'Buy' rating with a target price of INR 1,535.

Prestige Estates Raises Funds for Expansion Plan - 02 Apr, 2024

Realty firm Prestige Estates Projects Ltd has raised Rs 2,001 crore from Abu Dhabi Investment Authority (ADIA) and Kotak AIF to develop housing projects in four major cities. CLSA maintains a buy rating on the company with a target price of ₹1,520 per share.

Prestige Group Secures Funding for Residential Projects - 01 Apr, 2024

Real estate major Prestige Estates Projects has signed a strategic deal with Abu Dhabi Investment Authority (ADIA) and Kotak AIF worth Rs 2,001 crore towards the development of residential projects in prominent locations across four cities in India. The collaboration represents a move towards adopting strong and organic growth for Prestige Group.

Prestige Estates Projects Ltd's P/E Ratio Raises Concerns - 29 Mar, 2024

Analysts predict a 33% decrease in earnings for Prestige Estates Projects Ltd, leading to concerns about its current P/E ratio of 27.5x being unsustainable. Investors are hoping for a turnaround, but analysts remain skeptical.

Prestige Estates Acquires Land for Township Project - 22 Mar, 2024

Prestige Estates Projects Ltd has acquired 62.5 acres of land in Delhi-NCR for a residential township project with a projected Gross Development Value (GDV) of over Rs 10,000 crore. The acquisition marks the company's expansion into the dynamic real estate market of Delhi-National Capital Region.

Prestige Estates' Subsidiary Acquires 62.5 Acres of Land in NCR - 21 Mar, 2024

Prestige Group's subsidiary has acquired 62.5 acres of prime land in Indirapuram Extension, NCR for Rs 468 crore. The project will be branded under the successful The Prestige City format, offering residents a large township with residential, retail, school and recreational spaces.

Prestige Estate Projects to Develop Six Properties with Marriott Inc. - 19 Mar, 2024

Prestige Estate Projects is set to expand its hospitality segment by developing six properties across India with Marriott Inc. Despite an eight-day decline, Prestige Estates' stock trades at a high P/E ratio of 37 times FY25 earnings.

Nuvama Bullish on Real Estate Sector, Recommends DLF, Prestige and Brigade - 15 Mar, 2024

Brokerage firm Nuvama remains bullish on the real estate sector despite concerns about valuations. Their top bets include DLF, Prestige, and Brigade with DLF being referred to as the king of the pack. The strong pre-sales growth of realty developers has resulted in the Nifty Realty Index surging 120% since March 2023.

Prestige Estates Projects Ltd falls 5.36% amid broader realty index decline - 14 Mar, 2024

Prestige Estates Projects Ltd lost 5.36% to trade at Rs 1066.4, while the S&P BSE Realty Index fell 1.12%. The stock has lost 6.6% over the last month compared to a 3.83% fall in the index and a 1.42% rise in the benchmark SENSEX.