In past 2 days, DLF surged 9 per cent after the company said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days.

Nifty Realty index gains 3%; DLF, Prestige Estates, Lodha surge up to 5%

Real Estate Sector: ‘Currently, we are committed to building an annuity portfolio from the present Rs 460 crore in FY23 to Rs 3,000 crore by FY28’

We plan to capture around 4% of mkt in 4 yrs: Prestige Estates’ Irfan Razaq

Post the larger correction seen for residential developers we continue to favour Godrej Properties and Macrotech Developers against DLF and Oberoi realty. Godrej Properties, Macrotech Developers and Prestige Estates Projects are already trading at 16-38 percent discount to their price-to-book averag…

Realty valuations in line with long-term average, near pre-RERA rollout level: Jefferies

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Fundamental Radar: Prestige Estates Projects is a preferred Pick in the real estate sector

Broker’s Call: Prestige Estates Projects (Buy)

Prestige Estates Projects Ltd has lost 7.9% over last one month compared to 8.14% fall in S&P BSE Realty Index index and 2.32% drop in the SENSEX

Prestige Estates Projects Ltd Slides 3.32%, S&P BSE Realty Index index Drops 1.22%

Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates fell 1-2 per cent

Real estate shares weak; Godrej Properties, DLF, Mahindra Life shed 3% each

Motilal Oswal is bullish on Prestige Estates Projects recommended buy rating on the stock with a target price of Rs 675 in its research report dated February 21, 2023.

Buy Prestige Estates Projects; target of Rs 675: Motilal Oswal

Prestige Estates Projects plans to multiply its lease income by seven times in five years, approximately.

Prestige Estate Projects Plan To Expand In New Cities, Double Residential Sales By FY26

Jefferies believes that Prestige’s excellent execution track record, including in different geographies, should help the company overcome challenges as it enters a new asset creation cycle.

Prestige Estates edges higher as Jefferies retains ‘buy’ tag, predicts 30% upside

By FY26, the company targets to double new bookings in the residential segment on the back of 10 msf of new project launches in Q4

Prestige Estates - Pursuing Growth In All Segments: Motilal Oswal

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Prestige Estates Projects Limited is a real estate development company engaged in the development and construction of properties, and leasing of commercial properties.

Prestige Estates Projects Ltd