Prestige Estates shares in focus after Q1 profit rises 26% YoY on strong housing demand
Prestige Estates Projects
will be in focus on Wednesday after the real estate developer reported a 26% year-on-year increase in consolidated net profit to Rs 292.5 crore for the June quarter, supported by higher revenue and robust
housing demand
. The company had posted a net profit of Rs 232.6 crore in the same period last year.
Total income rose to Rs 2,468.7 crore in Q1 FY26, up from Rs 2,024.5 crore in the year-ago period, according to a regulatory filing.
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Last month, Prestige Estates reported a four-fold jump in pre-sales to Rs 12,126.4 crore for Q1 FY26, primarily driven by strong demand for its Ghaziabad residential project. In the same quarter last year, pre-sales stood at Rs 3,029.5 crore.
As of March 2025, the company had completed 302 projects covering 193 million square feet and had a pipeline of 130 projects across 203 million sq ft.
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Prestige Estates share price target
According to Trendlyne, the average target price for Prestige Estates stands at Rs 1,787, indicating an upside potential of 11% from current levels. The stock holds a 'Buy' recommendation from 19 analysts.
On the technical front, the relative strength index (RSI) is at 42.1, indicating the stock is neither overbought nor oversold. The MACD is at 5.9, below its signal and centre line—a strong bearish signal.
The stock is trading above its 100-day, 150-day, and 200-day simple moving averages (SMAs), but remains below its 5-day, 10-day, 20-day, 30-day, and 50-day SMAs.
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Share price performance
On Tuesday, shares of Prestige Estates closed 1.4% lower at Rs 1,609.3 on the BSE, while the benchmark Sensex fell 0.38%. The stock is down 3% so far in 2025 but has surged 180% over the past two years. The company's market capitalisation currently stands at Rs 69,319 crore.
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