Prestige Estates Projects Ltd. share price target

We maintain our BUY recommendation on the stock and continue to value the company using a DCF-based valuation to arrive at a TP of Rs 1,900/share, implying a 30% upside from the CMP.

Presales: In 3QFY26, presales were up 39% YoY/down 30% QoQ at INR41.8b (10% below our estimate) as only one residential project was launched in the quarter. In 9MFY26, presales grew 122% YoY to INR223b.

Prestige Estates (PEPL) has a diverse portfolio with a presence in the residential, office, retail, and hospitality segments. The company’s 1HFY26 incremental BD of INR331b and a launch pipeline of INR770b are expected to drive a presales CAGR of 40% over FY25-28, reaching INR463b by FY28.

With a 14% upside from the CMP, we maintain our long-term BUY rating on the stock.

Presales: PEPL reported 50% YoY growth and 50% QoQ decline in presales to INR60.2b (52% beat) in 2QFY26, boosted by stellar launches in NCR and Bengaluru.

With a 25% upside from the CMP, we maintain our long-term BUY rating on the stock.

We recommend a BUY rating on the stock with a TP of Rs 1,865/share, implying an upside of 10% from the CMP.

With a 25% upside from the CMP, we maintain our long-term BUY rating on the stock

PEPL has a diverse portfolio with a presence in residential, office, retail, and hospitality segments. The company’s 9MFY25 incremental BD of 15msf and the launch pipeline of INR800b would result in a presales CAGR of 14% over FY24-27E to reach INR315b by FY27E.

With a 34% upside from the CMP, we maintain our long-term BUY rating on the stock.

Prestige Estates Projects (PEPL) clocked tepid Q2FY25 gross sales bookings worth INR 40.3bn (43% YoY dip) owing to just three new launches across 8.2msf in Bengaluru and Mumbai during the quarter.

With a 33% upside from the CMP, we maintain our long-term BUY rating on the stock.

We initiate coverage on Prestige Estates (PEPL) with a BUY recommendation at a Target Price of Rs 2,195 share, implying an upside of 35% from the current levels.

Prestige Estates Projects (PEPL) reported bookings of INR30b, which was down 23% YoY and 36% QoQ (13% below estimate) on account of muted launches and lower inventory.

Prestige Estates Projects (PEPL) clocked strong Q2FY24 sales bookings worth INR70.9bn (up 102% YoY) driven by new launches of 13msf including Park Grove, Bengaluru (9.3msf). While company has achieved H1FY24 sales bookings of INR110bn (up 69% YoY), the company’s H2FY24 launch pipeline is robust with launches lined up across South India, Mumbai and NCR having GDV of ~INR300bn.