Prestige Estates Projects Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for PRESTIGE, BSE:533274 Prestige Estates Projects Ltd.

Prestige Estates Projects Ltd.

01 Dec 2020

1418.90

1.69%

Ashika - Stock Picks - Prestige Estate Projects Ltd. - December 2020

Buy: Prestige Estates Projects ...

Ashika Research

one of the largest real estate developers in India. PEPL has delivered 247 world-class projects spanning 134 mn sqft, predominantly in South India and is now expanding to other geographical regions. Currently PEPL...

Number of FII/FPI investors decreased from 633 to 568 in Mar 2025 qtr

Prestige Estates Projects Ltd.

28 Jan 2020

1418.90

1.69%

Prestige Estates Projects (3QFY20): Going all out. Maintain NEUTRAL

Neutral: Prestige Estates Projects ...

Target

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.

Prestige Estates Pro.. has an average target of 1656.25 from 4 brokers.

Prestige Estates Projects Ltd.

03 Aug 2019

1418.90

1.69%

Prestige Estates Projects (1QFY20): Deleveraging key for re-rating. Maintain NEUTRAL

Neutral: Prestige Estates Projects ...

HDFC Securities

Despite an encouraging quarter on collections, PEPL has seen further debt built up (due to asset portfolio stake consolidation), posing a challenge for the management in achieving optimal leverage. Further pending capex includes Rs 13bn/4-5bn for Office and Retail/ Hospitality respectively. One of the few positives is that ~60% of debt is backed either by annuity or by rental securitization/ bill discounting. Launches were largely tilted towards commercial projects. Asset stake sale is key for further re-rating. Retain NEU with Rs 286/sh TP. We maintain NEU on Prestige Estate (PEPL) owing to muted presales, increasing debt and limited visibility on asset monetization. Our SOTP based TP is Rs 286/sh. We remain constructive on leasing business and cap rate compression in declining interest rate scenario will cap valuation downside.

Prestige Estates Projects Ltd. has gained 26.37% in the last 1 Month

Prestige Estates Projects Ltd.

29 May 2019

1418.90

1.69%

Prestige Estates Projects (4QFY19): Debt pile-up a concern. Maintain NEUTRAL

Neutral: Prestige Estates Projects ...

Recommendation Target

HDFC Securities

Despite strong pre- sales, Prestige has seen debt building up. Further pending capex includes Rs 15/3bn for Office and Retail/ Hospitality respectively. With ~Rs 7.5-10bn outlay expected over the next 12-15 months on JDAs/ JVs, we remain concerned. The only solace is ~56% of debt is backed either by annuity or by rental securitization/ bill discounting. The stock has run up 39% over the past 3 months. Maintain NEU with TP of Rs 286/sh. Key risks (1) Further increase in debt, (2) Delays in asset monetization, (3) High unsold inventory We maintain NEU owing to rich valuations. Our SOTP based TP stands reduced to Rs 286/sh (vs Rs 292 earlier). We have reduced FY20/21E EPS by 27/17% to factor in higher depreciation on asset capex and higher financing costs.

Prestige Estates Projects Ltd. has gained 26.37% in the last 1 Month

Prestige Estates Projects Ltd.

14 Feb 2019, 07:43AM

1418.90

1.69%

Prestige Estates Projects (3QFY19): Launches lagging. Maintain BUY

Buy: Prestige Estates Projects ...

Target

HDFC Securities

Monetisation of completed inventory of ~Rs 28bn remains key. We maintain BUY with Rs 292/sh TP. 3QFY19 Revenue came in at Rs 10.8bn, Rs 1bn lower due to IND AS 115. Margins came in at 31.9% (vs 20.0/27.7% YoY/QoQ). PEPL had deliveries of 7mn sqft in 3QFY19 alone (record deliveries of ~24mn sqft in 9MFY19, 141% ahead of full year guidance) leading to total unrecognized revenue of ~130bn, incl. ~Rs 75bn of earlier reversals (re-recognition over 2.5-3 years).

Prestige Estates Projects Ltd. is trading below its 150 day SMA of 1459.7

Prestige Estates Projects Ltd.

31 Oct 2018

1418.90

1.69%

Prestige Estates Projects (2QFY19): Inventory monetization key. Maintain BUY

Buy: Prestige Estates Projects ...

Target

HDFC Securities

We maintain BUY with Rs 309/sh TP PEPL reported 2QFY19 revenue of Rs 13.2bn, 49% ahead of estimates. APAT came in at Rs 968mn (234% ahead of estimates). Impact of IND AS 115: higher revenue by Rs ~1.3bn and higher net profit by Rs 543mn. PEPL delivered 12.1mn sqft in 2QFY19 alone (~17.1mn sqft in 1HFY19, which is 71% ahead of guidance and this has resulted in strong revenue recognition).

Prestige Estates Projects Ltd. is trading below its 150 day SMA of 1459.7

Prestige Estates Projects Ltd.

31 Jul 2018

1418.90

1.69%

Prestige Estates Projects (1QFY19): On path to recovery. Upgrade to BUY

Buy: Prestige Estates Projects ...

Recommendation

HDFC Securities

Due to the recent price correction, we upgrade PEPL from NEU to BUY with a NAV-based TP of Rs 316/sh. 1QFY19 Revenue came in at Rs 8.6bn. The prior quarters are not comparable due to 1st time adoption of IND AS 115. Impact (1QFY19): Lower revenue by Rs 1.7bn and higher net profit by Rs 23mn). Even as 1mn sqft was launched in 1QFY19 in Chennai and Bangalore, PEPLs share of pre-sales decreased QoQ to 1.1mn sqft (vs 1.6mn sqft QoQ).

Prestige Estates Projects Ltd. is trading above its 100 day SMA of 1335.9

Prestige Estates Projects Ltd.

29 Jul 2018

1418.90

1.69%

Prestige Estate

Buy: Prestige Estates Projects ...

JM Financial

Robust pre-sales; debt rises on stake buyback Prestige Estates (PEPL) reported robust operations as company benefitted from projects launched in 4QFY18. Pre-sales volume was at 1.11msf and sales value at INR 7.6bn (+69% YoY) during the quarter. Completed inventory declined by 0.67msf during the quarter (60% of sales). Collection from residential segment was reported at INR 7.5bn (vs. INR 8.0bn quarterly average). PEPL has shifted to completion method of accounting under Ind AS 115. Net debt increased by INR 8.2bn to INR 72.8bn primarily on CapitaLand stake acquisition (INR 3.4bn) and consolidation of INR 2.8bn debt related to the acquisition. While the increase in...

Prestige Estates Projects Ltd. is trading below its 150 day SMA of 1459.7

Prestige Estates Projects Ltd.

14 Mar 2018, 12:00AM

1418.90

1.69%

PRESTIGE ESTATES PROJECTS LIMITED

Accumulate: Prestige Estates Projects ...

Geojit Research

Q3FY18 reported revenue grew by 3% YoY, while PAT grew by 34% due to higher realisation. Given Bangalores better affordability compared to peers (Mumbai/NCR), we continue to maintain a positive view on Bangalore-based developer PEPL....

Prestige Estates Projects Ltd. is trading above its 100 day SMA of 1335.9

Prestige Estates Projects Ltd.

08 Feb 2018

1418.90

1.69%

Prestige Estates Projects (3QFY18): Launches awaited. Maintain NEUTRAL

Neutral: Prestige Estates Projects ...

Target

HDFC Securities

We maintain NEU with a NAV-based TP of Rs 316/sh. Prestige Estates Projects Ltd. (PEPL) delivered inline 3QFY18 performance with revenues/EBIDTA/PAT coming in 8.1/1.7/4.2% ahead of our estimate. Despite no new project launch, PEPL reported gross pre-sales of 1.0mn sq ft/Rs 6.7bn in value (realisation of Rs 6,869/sq ft). Gross Volume/value declined 15.5/16.4% QoQ respectively.

Number of FII/FPI investors decreased from 633 to 568 in Mar 2025 qtr

Is Prestige Estates Projects Ltd. worth buying?

155 Votes:

Buy 81.29%

Sell 12.26%

Hold 6.45%

RESEARCH REPORTS

Buy SEE REPORTS >

pdf

Accumulate SEE REPORTS >

pdf