Latest news with #PrestigeEstatesProjects
New Indian Express
2 days ago
- Business
- New Indian Express
Bengaluru-based Prestige Hospitality gets Sebi nod for Rs 2,700-crore IPO
MUMBAI: Prestige Hospitality Ventures, which develops and operates luxury, upscale and upper midscale hospitality assets, has received Sebi approval for a Rs 2,700 crore initial public offering. The IPO comprises a fresh issue of shares of Rs 5 each worth Rs 1,700 crore, and an offer for sale aggregating up to Rs 1,000 crore, by the promoters Prestige Estates Projects. Prestige Hospitality proposes to utilise Rs 1,121.3 crore from the fresh issue towards repayment of Rs 397.3 crore availed by the company and its subsidiaries -- Sai Chakra Hotels and Northland Holding Company -- while Rs 724.1 crore will be invested back into these subsidiaries. The company also proposes to utilise a portion of the fund towards pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Prestige Hospitality Ventures is a part of the Bengaluru-based Prestige Group, promoted by Prestige Estates Projects which has 38 years of experience in real estate development.
Business Standard
2 days ago
- Business
- Business Standard
Prestige Estates Projects consolidated net profit rises 25.75% in the June 2025 quarter
Sales rise 23.91% to Rs 2307.30 crore Net profit of Prestige Estates Projects rose 25.75% to Rs 292.50 crore in the quarter ended June 2025 as against Rs 232.60 crore during the previous quarter ended June 2024. Sales rose 23.91% to Rs 2307.30 crore in the quarter ended June 2025 as against Rs 1862.10 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 2307.301862.10 24 OPM % 38.0242.08 - PBDT 654.80599.80 9 PBT 438.60409.30 7 NP 292.50232.60 26
Business Upturn
2 days ago
- Business
- Business Upturn
Prestige Estates shares drop over 2% despite strong Q1 results
Shares of Prestige Estates Projects slipped over 2% in early trade on Wednesday, even as the company posted a solid set of numbers for the first quarter of FY26. The stock opened at ₹1,620 and touched a high of ₹1,629.80 before slipping to an intraday low of ₹1,568.30. Despite the swings, the stock remains well above its 52-week low of ₹1,048.05 but below its 52-week high of ₹1,972.00. As of 10:17 AM, the shares were trading 2.23% lower at Rs 1,573.00. On a consolidated basis, Prestige Estates reported a 24% year-on-year rise in revenue to ₹2,307 crore, compared to ₹1,862 crore in the same quarter last year. Net profit also saw a healthy growth of 25.8%, coming in at ₹293 crore, up from ₹233 crore in Q1 FY25. EBITDA for the quarter rose 12% to ₹893 crore from ₹797 crore a year ago. However, the EBITDA margin declined to 38.7% from 42.8% in the year-ago period, indicating some pressure on profitability despite the topline growth. 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. Ahmedabad Plane Crash 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
Economic Times
2 days ago
- Business
- Economic Times
Prestige Estates shares in focus after Q1 profit rises 26% YoY on strong housing demand
As of March 2025, Prestige Estates had completed 302 projects covering 193 million square feet and had a pipeline of 130 projects across 203 million sq ft. Prestige Estates Projects reported a 26% YoY increase in net profit to Rs 292.5 crore for Q1 FY26, driven by higher revenue and strong housing demand. Pre-sales surged fourfold to Rs 12,126.4 crore, boosted by a Ghaziabad project. Analysts predict an 11% upside, with an average target price of Rs 1,787, despite recent price dips and mixed technical signals. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Prestige Estates share price target Share price performance Shares of 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 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 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 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 Read: PNB Housing Finance, RBL Bank among 10 small-cap stocks where FIIs increased stake in Q1 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 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 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 Read: These 10 stocks delivered consistent dividend yields over the last 3 years 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.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
2 days ago
- Business
- Time of India
Prestige Estates shares in focus after Q1 profit rises 26% YoY on strong housing demand
Shares of 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. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program 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. Also Read: PNB Housing Finance, RBL Bank among 10 small-cap stocks where FIIs increased stake in Q1 Live Events 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. Also Read: These 10 stocks delivered consistent dividend yields over the last 3 years 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.
