Latest news with #PraveenChoudhary
Business Insider
3 days ago
- Business
- Business Insider
Morgan Stanley Remains a Buy on Prestige Estates Projects Limited (PRESTIGE)
Morgan Stanley analyst Praveen Choudhary maintained a Buy rating on Prestige Estates Projects Limited (PRESTIGE – Research Report) on May 30 and set a price target of INR1,700.00. The company's shares closed last Friday at INR1,484.00. Confident Investing Starts Here: According to TipRanks, Choudhary is a 3-star analyst with an average return of 1.8% and a 49.15% success rate. Choudhary covers the Consumer Cyclical sector, focusing on stocks such as Melco Resorts & Entertainment, Galaxy Entertainment Group, and Wynn Macau. Currently, the analyst consensus on Prestige Estates Projects Limited is a Moderate Buy with an average price target of INR1,825.00, implying a 22.98% upside from current levels. In a report released on May 31, Jefferies also maintained a Buy rating on the stock with a INR1,700.00 price target. Based on Prestige Estates Projects Limited's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR20.25 billion and a net profit of INR2.33 billion. In comparison, last year the company earned a revenue of INR16.81 billion and had a net profit of INR2.67 billion
South China Morning Post
07-04-2025
- Business
- South China Morning Post
Hong Kong's office segment to see faster turnaround than retail sector: Morgan Stanley
Hong Kong's office space segment has a higher probability of making a fast turnaround than the local market's other sluggish sector, retail property, according to Morgan Stanley Advertisement 'In our view, retail's performance may be worse than office in terms of rental improvement, as the office market usually benefits more quickly from a sentiment boost,' said Praveen Choudhary, head of Hong Kong and India real estate research at the New York-based investment bank. That assessment runs contrary to those of other market experts who predicted the retail sector to shake off a slump – triggered by social unrest during a wave of Hong Kong protests in 2019 and the coronavirus pandemic from 2020 – ahead of the lethargic office segment, which is saddled with excess commercial space Since 2019, office rents in the city have dropped by 40 per cent, according to CBRE. Last year, the segment's rents declined by 6.3 per cent. From 2025 to 2026, about 6 million square feet of new office space will come on line including 2.6 million sq ft at International Gateway Centre in West Kowloon and 1.06 million sq ft at Lee Garden Eight in Causeway Bay, according to data complied by Midland IC&I. Advertisement In the retail segment between 2019 and 2023, the city's four core shopping locations – Causeway Bay, Tsim Sha Tsui, Central and Mong Kok – saw rents fall between 29 per cent and 47 per cent, according to Cushman & Wakefield. Last year, rents in this segment improved from a range of 3.2 per cent to 6.7 per cent.
