Prestige Estates Projects Ltd.

NSE: PRESTIGE | BSE: 533274 | ISIN: INE811K01011 | Industry: Realty
| Expensive Performer
1708.5000 -6.10 (-0.36%)
NSE Jun 09, 2025 15:31 PM
Volume: 1.4M
 

1708.50
-0.36%
HDFC Securities
PEPL is going all out (1) On building lease assets & (2) Increasing Non-South exposure with JV/JD tie ups. It's banking on the consolidation theme and picking up distressed projects in non-south markets. Large capex outlays on new lease assets will be cash flow dilutive over next 3-4yrs and requires timely funding from existing lease assets monetization and deployment of capital in cash flow dilutive under construction projects. Office assets under construction/upcoming launches of 15/25mn sqft are aggressive with overall office portfolio expected to increase from 10mn sqft to 50mn sqft over next 5-6yrs. We retain NEU with increased (new leases addition) TP of Rs 358/sh. We maintain NEU on PEPL with SOTP of Rs 358/sh (vs. Rs 348/sh earlier). We have increased our FY20/21E EPS estimates by 35%/18.9% to factor in better than expected deliveries in residential projects. PEPL posted strong 3QFY20 results.
Axis Direct increased Buy price target of Prestige Estates Projects Ltd. to 1850.0 on 02 Jun, 2025.
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