Prestige Estates Projects Ltd. share price target

Prestige Estates Projects (PEPL) reported Q2FY23 gross sales bookings of Rs35.1bn vs. I-sec estimate of Rs31.5bn and was primarily led by strong response to new launches in Prestige City, Bengaluru with the Bengaluru market accounting for 75% of sales bookings.

Prestige Estates Projects (PEPL) reported Q1FY23 gross sales bookings of Rs 30.1bn vs. I-sec estimate of Rs31.5bn and was primarily led by strong response to the new launch in Mulund, Mumbai (Prestige Bellanza) which our channel checks indicate may have sold ~300 units or Rs6.0bn in value during the quarter.

Prestige Estates Projects (PEPL) reported Q1FY23 gross sales bookings of Rs30.1bn vs. I-sec estimate of Rs31.5bn and was primarily led by strong response to the new launch in Mulund, Mumbai (Prestige Bellanza) which our channel checks indicate may have sold ~300 units or Rs6.0bn in value during the quarter.

Prestige Estates Projects (PEPL) has reported 90% YoY growth in FY22 gross sales bookings to Rs103.8bn led by record new launches of 16.8msf in South India. As per PEPL management, the company has done an official launch of three Mumbai projects (Mulund/Byculla/Bandra) spread across 8msf in May’22 which have met with strong response and with large planned launches in Noida/Chennai in FY23.

The management stated that 1QFY22 will be a lockdown quarter. It highlighted that efforts from the company's sales team towards selling units digitally are in full swing and it remains optimistic about recovery in demand. Cash flows remained healthy at Rs.1,767.6 cr, up 32.0% YoY in 4QFY21....

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...