Prestige Estates shares in focus tomorrow as debut NCR project records blockbuster Rs 3,000 crore sales in a week
Shares of Prestige Estates Projects Ltd are expected to be in focus during Tomorrow's (May 7, 2025) trade after the company announced a blockbuster debut in the National Capital Region (NCR) with its maiden residential project. By Markets Desk Published on May 6, 2025, 17:18 IST
Shares of Prestige Estates Projects Ltd are expected to be in focus during Tomorrow's (May 7, 2025) trade after the company announced a blockbuster debut in the National Capital Region (NCR) with its maiden residential project, The Prestige City, Indirapuram, clocking ₹3,000 crore worth of sales within just one week of launch.
According to a press release filed with the stock exchanges, Prestige sold over 1,200 units in the project, marking a strong customer response to its first-ever residential launch in NCR. The success, achieved across its Oakwood and Mulberry towers, underscores the brand's credibility and growing demand for thoughtfully designed housing communities in key urban centres.
The development is spread across 62.5 acres in Indirapuram Extension on National Highway 24 and features a mix of residential towers totaling 3,421 homes across 19 towers. A future launch—Mayflower—is also planned as part of the township, along with a Forum Mall of 1.18 million square feet, adding retail and entertainment to the integrated ecosystem.
Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, expressed enthusiasm over the achievement, calling it a 'strong validation of the trust that homebuyers place in us.' He added that the company is planning many more launches across NCR, Bengaluru, Chennai, Goa, Mumbai, and Hyderabad over the coming year.
The development marks a significant step in Prestige's northward expansion and may boost investor sentiment as it reaffirms the company's execution strength in new markets. With the residential real estate sector witnessing strong demand tailwinds, especially in top metros, Prestige's sales performance may act as a key stock trigger in the near term.
Markets Desk at BusinessUpturn.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
3 days ago
- Business Upturn
Nomura maintains ‘Buy' on Alkem Labs; expects Semaglutide launch to drive future growth
By Markets Desk Published on May 30, 2025, 07:46 IST Nomura has reiterated its Buy rating on Alkem Labs with a target price of ₹5,430, viewing the Q4FY25 earnings as largely in line on sales, though EBITDA and PAT came in 2% and 6% below estimates, respectively. The company's FY26 guidance is described as a mixed bag. One key concern is an expected rise in effective tax rate (ETR) to 35–37% in FY27E, which is significantly higher than Nomura's current 20% assumption. While this will negatively impact reported earnings, cash flows remain unaffected, as cash tax will stay around 17–18%. On the operational front, domestic formulations are expected to grow ~100bps ahead of the market in FY26. The company also expects to be in the first wave of Semaglutide launches in India by March 2026, which could be a major growth driver. Disclaimer: The views and target prices mentioned in this article are as stated by Nomura. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions. Markets Desk at
Business Upturn
4 days ago
- Business Upturn
Prestige Estates shares surge over 3% after completing three landmark projects in Mumbai
By Aman Shukla Published on May 29, 2025, 10:00 IST Prestige Estates' shares jumped over 3% in morning trade following the successful completion and inauguration of its first three major projects in Mumbai: Siesta at The Prestige City, Mulund; Prestige Jasdan Classic, Mahalaxmi; and Prestige Turf Tower, Mahalaxmi. These developments cover a vast 2.8 million square feet, marking Prestige Group's strong debut in Mumbai since its 2022 launch. The Group plans to hand over nearly 700 premium residential units and 130 office spaces soon, reinforcing its reputation for timely delivery and high-quality construction. Siesta at The Prestige City, Mulund, is a premium 54-storey residential tower featuring 462 sky-lounge apartments and a multi-level clubhouse with extensive lifestyle amenities. Prestige Jasdan Classic, located in the prime Mahalaxmi area, offers 233 luxury residences in a 45-storey boutique tower with facilities like a swimming pool, gym, badminton and squash courts, and a banquet hall. Additionally, Prestige Turf Tower is a Grade A commercial building overlooking the Mahalaxmi Race Course, expanding Prestige's presence in Mumbai's commercial real estate market. Prestige Estates' shares opened at ₹1,476.00, and, at the time of writing, reached a high of ₹1,508.90 and a low of ₹1,472.00 during the trading session. The stock remains below its 52-week high of ₹2,074.80 but well above the 52-week low of ₹1,048.05. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
23-05-2025
- Business Upturn
HSBC cuts trims Sun Pharma target price to Rs 1,870 on cost spike from specialty launches
By Markets Desk Published on May 23, 2025, 08:10 IST HSBC has maintained its 'Buy' rating on Sun Pharma but lowered its target price to ₹1,870, following a miss in Q4 earnings and the company's announcement of $100 million in additional costs for new specialty product launches in FY26. Sun Pharma's Q4FY25 net profit dropped 19% YoY to ₹2,153.9 crore, while EBITDA grew 22.4% to ₹3,715.9 crore. Margin expansion to 28.7% was aided by cost discipline, but profitability was hit by a ₹361.6 crore exceptional loss. The company has announced the launch of Leqselvi in Q2FY26, and expects increased costs associated with Unloxcyt and the closure of its Checkpoint deal, both of which are critical to expanding its specialty portfolio. HSBC warned that these additional investments will likely hit EBITDA margins in the near term, but the spend is considered crucial for long-term growth in high-value, less competitive segments. The brokerage views the current weakness as a temporary trade-off to build durable revenue streams. Disclaimer: This article is based on the brokerage report by HSBC. It does not constitute investment advice. Markets Desk at
