&w=3840&q=100)
Prestige Estates share zooms over 6% in trade on Monday; check reasons here
Prestige Estates share price: Real estate company Prestige Estates Projects shares were buzzing in trade on Monday, May 12, 2025, with the stock surging up to 6.15 per cent to hit an intraday high of ₹1,361.25 per share.
However, at 9:45 AM, Prestige Estates shares were off day's high, and were trading 4.27 per cent higher at ₹1,337.05 per share. In comparison, BSE Sensex was trading 2.40 per cent higher at 81,360.37 levels.
Here's what fuelled the rally
Prestige Estates Projects shares rose after the company said that it has entered into a 'Framework Agreement' with Arihant Foundations and Housing, to collaborate and jointly develop real estate projects in Chennai.
In an exchange filing, Prestige Estates said, 'We wish to inform you that the company has entered into a framework agreement with Arihant Foundations and Housing Limited (Arihant) to collaborate and jointly develop real estate projects in Chennai.'
Under the deal, both the companies will explore opportunities across all classes of real estate, including Residential, Office, Retail and Hospitality Developments.
Moreover, the terms and conditions of the JV/agreement are to be determined for each specific project to be undertaken under the pact, Prestige Estates said.
Last week, Prestige Group announced that The Prestige City, Indirapuram, has achieved sales of over ₹3,000 crore across 1,200 units within a week of its launch.
'The strong customer response is a significant milestone for Prestige Group as it marks the company's foray into the NCR residential market,' the company said, in a statement. ALSO READ |
About Prestige Estates
Prestige Estates Projects Limited is a real estate developer, with a diverse portfolio spanning residential, commercial, retail, and hospitality segments.
The company offers a wide range of real estate solutions—from upscale townships and apartments to luxury villas, office spaces, malls, and hotels.
With more than 300 successfully completed projects covering over 180 million square feet, the company has established a strong footprint in more than 12 major cities across India.
The company has 56 ongoing projects across segments, with a total developable area of 86 mn sqft. Further, it is planning 43 projects spanning 85 mn sqft and holds a land bank of over 728 acres as of September-23.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
15 hours ago
- Economic Times
Real estate stocks deliver rocket returns this week as BSE Realty eclipses sectoral peers with 10% rally
The real estate sector has emerged as a powerhouse, with the BSE Realty index recording substantial weekly gains. This momentum can be traced back to the Reserve Bank of India's repo rate cut, which has sparked renewed interest in property investments. Leading the charge is Sobha, whose stock has taken off, joined by gains in Financial Services and Metal sectors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The realty sector eclipsed its sectoral peers as the BSE Realty index delivered near double-digit weekly gains with significant impetus coming from the Reserve Bank of India's (RBI's) 50 bps points repo rate cut on Friday, unleashing the property 10-stock index ended the week with 9.7% returns while rising by 5% on the stocks that rallied most, Sobha 's 18% uptick towered over others. Prestige Estates Projects and Brigade Enterprises were up 17%, like the DLF Macrotech Developers (Lodha), Signatureglobal (India), The Phoenix Mills and Anant Raj closed with weekly gains of 10% and 3%.Others including BSE Financial Services (1.8%), BSE Metal (1.7%), BSE Auto (1.5%) and BSE Healthcare (1.4%) trailed significantly. The headline index BSE Sensex closed with 1% major laggards were BSE Information Technology and BSE Capital Goods, which were down 0.15% and 0.41%, respectively, on a weekly broader markets also showed good momentum with the BSE Smallcap rising by 2% during the week while the BSE Midcap gain by nearly as which is an interest rate sensitive sector is expected to benefit from the rate cut. RBI has so far cut the policy rate by 100 bps, bringing it to 5.5%. This was a third cut in a row and under the leadership of Governor Sanjay Malhotra who took over the reins from Shaktikanta the EMIs of potential home buyers will likely come down, the industry will also benefit from cheaper cost of on the development, Krishna Appala, Fund Manager, Capitalmind PMS said that rate-sensitive sectors stand to benefit — especially financials, real estate, and manufacturing, though she conceded that the transmission could be slower, given muted credit offtake."Despite abundant liquidity, both corporate borrowing and bank lending remain subdued," Appala said, adding that overall, this policy reinforces India's macro stability while attempting to reignite demand in a measured, credible Read: Bank, NBFC stocks cheer RBI's 50 bps bonanza, but are rate cuts delivering?
Time of India
15 hours ago
- Time of India
Real estate stocks deliver rocket returns this week as BSE Realty eclipses sectoral peers with 10% rally
The real estate sector has emerged as a powerhouse, with the BSE Realty index recording substantial weekly gains. This momentum can be traced back to the Reserve Bank of India's repo rate cut, which has sparked renewed interest in property investments. Leading the charge is Sobha, whose stock has taken off, joined by gains in Financial Services and Metal sectors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The realty sector eclipsed its sectoral peers as the BSE Realty index delivered near double-digit weekly gains with significant impetus coming from the Reserve Bank of India's (RBI's) 50 bps points repo rate cut on Friday, unleashing the property 10-stock index ended the week with 9.7% returns while rising by 5% on the stocks that rallied most, Sobha 's 18% uptick towered over others. Prestige Estates Projects and Brigade Enterprises were up 17%, like the DLF Macrotech Developers (Lodha), Signatureglobal (India), The Phoenix Mills and Anant Raj closed with weekly gains of 10% and 3%.Others including BSE Financial Services (1.8%), BSE Metal (1.7%), BSE Auto (1.5%) and BSE Healthcare (1.4%) trailed significantly. The headline index BSE Sensex closed with 1% major laggards were BSE Information Technology and BSE Capital Goods, which were down 0.15% and 0.41%, respectively, on a weekly broader markets also showed good momentum with the BSE Smallcap rising by 2% during the week while the BSE Midcap gain by nearly as which is an interest rate sensitive sector is expected to benefit from the rate cut. RBI has so far cut the policy rate by 100 bps, bringing it to 5.5%. This was a third cut in a row and under the leadership of Governor Sanjay Malhotra who took over the reins from Shaktikanta the EMIs of potential home buyers will likely come down, the industry will also benefit from cheaper cost of on the development, Krishna Appala, Fund Manager, Capitalmind PMS said that rate-sensitive sectors stand to benefit — especially financials, real estate, and manufacturing, though she conceded that the transmission could be slower, given muted credit offtake."Despite abundant liquidity, both corporate borrowing and bank lending remain subdued," Appala said, adding that overall, this policy reinforces India's macro stability while attempting to reignite demand in a measured, credible Read: Bank, NBFC stocks cheer RBI's 50 bps bonanza, but are rate cuts delivering?
Hans India
a day ago
- Hans India
Markets rally on RBI's surprise 50 bps rate cut
Mumbai: Benchmark equity indices surged on Friday, with the Sensex climbing 746.95 points and Nifty reclaiming the 25,000-level after the RBI cut interest rates by more-than-expected 50 basis points -- a third consecutive reduction -- and reduced the cash reserve ratio for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. Recovering all the early lost ground, the 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,188.99. During the day, it surged 857.85 points, or 1.05 per cent, to 82,299.89. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. Interest-rate-sensitive realty index jumped 4.74 per cent, while auto index went up 1.50 per cent and bankex climbed 1.25 per cent. The Reserve Bank of India's (RBI's) six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also cut the cash reserve ratio by 100 basis points to 3 per cent, adding Rs 2.5 lakh crore to already surplus liquidity in the banking system. With the latest reduction, the RBI has cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February -- the first cut since May 2020 -- and another similar-sized cut in April. The central bank, at the same time, changed its monetary policy stance to 'neutral' from accommodative, with Malhotra saying further action will depend on incoming data. 'The Indian stock market responded optimistically to the RBI's surprise and aggressive growth push policy. The tremendous rate cut and liquidity boost via the CRR cut is expected to facilitate swift transmission of lower rates, reinforcing the RBI's strong commitment to fostering economic growth, boosting investment, and stimulating consumption. 'Rate-sensitive sectors, including banking, real estate, automobiles, and consumer durables are leading the rally,' Vinod Nair, Head of Research, Geojit Investments Ltd, said. From the Sensex firms, Bajaj Finance surged 4.93 per cent and Axis Bank climbed 3.15 per cent. Maruti, IndusInd Bank, Bajaj Finserv, Eternal, Mahindra & Mahindra, Tata Steel, Kotak Mahindra Bank, Titan, HDFC Bank, and NTPC were among the other major gainers. Bharti Airtel and Sun Pharma were the laggards. 'A third straight cut in repo rates this year with 50 bps cut instead of an estimate of 25 bps is a pleasant move.
