Latest news with #PrestigeEstatesProjectsLtd.
Economic Times
3 hours ago
- Business
- Economic Times
Prestige Group acquires 102 acres of land in Q1 to build homes worth Rs 20,000 cr
Synopsis Prestige Estates Projects Ltd. has strategically expanded its residential portfolio by acquiring 102 acres of land across key cities like Bengaluru, Hyderabad, Chennai, and Mumbai, earmarking these parcels for housing projects with a potential gross development value exceeding Rs 20,000 crore. Agencies Representative image. New Delhi: Realty firm Prestige Estates Projects Ltd has acquired 102 acres of land in the April-June quarter to build housing projects, with a potential to generate revenue of more than Rs 20,000 crore. Looking to expand its residential real estate business, Bengaluru-based Prestige Estates Projects has been acquiring land parcels outright and also partnering with landowners. According to its latest investor presentation, the company acquired a total of 102 acres of land in Bengaluru, Hyderabad, Chennai and Mumbai in the first quarter of this fiscal land parcels will be used to develop residential projects, which would have an estimated gross development value (GDV) of Rs 20,400 to the presentation, Prestige Estates in Hyderabad acquired two plots -- 28 acres in Tellapur and 37 acres in Pulimamidi. In Bengaluru, the company has acquired three land parcels -- 10 acres in Poojanahalli - Devanahalli, 7 acres in Kothanuru, KR Puram and 10 acres in Ittangur, Velachery in Chennai, the company acquired 3.48 acquired 6.3 acres of land in presentation did not mention the cost of the financial performance, the company recently reported a 26 per cent increase in its consolidated net profit to Rs 292.5 crore during the first quarter of this net profit stood at Rs 232.6 crore in the year-ago total income rose to Rs 2,468.7 crore during the April-June period of this fiscal from Rs 2,024.5 crore in the corresponding period of the preceding month, Prestige Estates Projects Ltd reported a four-fold jump in its sales bookings to Rs 12,126.4 crore in the first quarter of FY26, mainly due to strong demand for its housing project in company's sales bookings or pre-sales stood at Rs 3,029.5 crore in the year-ago the entire last fiscal year, Prestige Estates sales bookings declined 19 per cent to Rs 17,023.1 crore, "reflecting the impact of deferred launches amid approval delays".The company has given guidance of achieving Rs 27,000 crore worth of sales bookings during the current fiscal year. Prestige Group has delivered over 300 projects and has a pipeline of around 140 projects.
Economic Times
16-07-2025
- Business
- Economic Times
Luxury development boom stokes jump in Indian real estate shares
A rally in India's real estate stocks is gaining momentum, driven by optimism that robust residential pre-sales and a boom in luxury housing projects will bolster investor confidence. ADVERTISEMENT A gauge of local property shares have surged more than 25% from an April low, putting the sector on track to outperform the benchmark Nifty 50 Index for a fifth straight month in July. The rebound follows a sharp selloff earlier this year amid concerns about a slowing economy. Investors are betting on a turnaround in India's property market with developers set to report a record 447 billion rupees ($5.2 billion) in pre-sales in the first quarter, according to a July 7 report from Kotak Institutional Equities. Upcoming new launches from DLF Ltd., Prestige Estates Projects Ltd. and Lodha Developers Ltd. are adding to stronger sentiment. 'We believe tier-1 developers with strong balance sheets and diversified portfolios should continue to benefit from the structural long cycle positive demand trends in India,' Harsh Wardhan Modi, an analyst at JPMorgan Chase & Co., wrote on said it sold 110 billion rupees worth of luxury homes within a week of launch in June, while Prestige notched an all-time high sales bookings in the quarter. While shares of the two are down year to date, they're more than 35% higher since bottoming out in April. ADVERTISEMENT 'Many developers in our coverage have less than one year of unsold inventory and strong balance sheets, giving them pricing and staying power,' HSBC Holdings analysts including Puneet Gulati wrote in a recent note. Still, concerns over aggressive new project launches and the risk of oversupply are weighing on future growth. Questions about whether the property cycle has peaked and if the pace of sales will continue has prompted some investors to take now, they're turning their attention to upcoming earnings season scheduled to kick off later this month. Key areas to watch include whether firms revise guidance upward for fiscal 2026 pre-sales and cash collection, according to Citigroup Inc. analysts. (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
15-07-2025
- Business
- Economic Times
Stock market update: Nifty Realty index advances 1.15% in an upbeat market
NEW DELHI: The Nifty Realty index traded positive around 11:17AM(IST)on Tuesday in an upbeat market. ADVERTISEMENT Sobha Ltd.(up 5.53 per cent), Prestige Estates Projects Ltd.(up 1.84 per cent), Oberoi Realty Ltd.(up 1.6 per cent), Lodha Developers Ltd.(up 1.25 per cent) and DLF Ltd.(up 1.18 per cent) were among the top gainers. Phoenix Mills Ltd.(down 0.9 per cent) were the top losers on the index. The Nifty Realty index was up 1.15 per cent at 987.45 at the time of writing this report. Benchmark NSE Nifty50 index was up 137.25 points at 25219.55, while the BSE Sensex was up 426.72 points at 82680.18. Among the 50 stocks in the Nifty index, 39 were trading in the green, while 11 were in the red. ADVERTISEMENT Shares of Ola Electric Mobilit, JP Power, Vodafone Idea, RattanIndia Power and PC Jeweller were among the most traded shares on the NSE. Shares of Soma Textiles, Nesco Ltd, Rajoo Engineers, Godfrey Philips and Rallis India hit their fresh 52-week highs in today's trade, while Setubandhan Infra, Tejas Networks, LCC Infotech, Travel Food Services and N R Agarwal Ind hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
15-07-2025
- Business
- Time of India
Stock market update: Nifty Realty index advances 1.15% in an upbeat market
NEW DELHI: The Nifty Realty index traded positive around 11:17AM(IST)on Tuesday in an upbeat market. Sobha Ltd.(up 5.53 per cent), Prestige Estates Projects Ltd.(up 1.84 per cent), Oberoi Realty Ltd.(up 1.6 per cent), Lodha Developers Ltd.(up 1.25 per cent) and DLF Ltd.(up 1.18 per cent) were among the top gainers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Jaipur: 1 Trick to Reduce Belly Fat? Home Fitness Hack Shop Now Undo Phoenix Mills Ltd.(down 0.9 per cent) were the top losers on the index. The Nifty Realty index was up 1.15 per cent at 987.45 at the time of writing this report. Benchmark NSE Nifty50 index was up 137.25 points at 25219.55, while the BSE Sensex was up 426.72 points at 82680.18. Live Events Among the 50 stocks in the Nifty index, 39 were trading in the green, while 11 were in the red. Shares of Ola Electric Mobilit, JP Power , Vodafone Idea , RattanIndia Power and PC Jeweller were among the most traded shares on the NSE. Shares of Soma Textiles , Nesco Ltd, Rajoo Engineers , Godfrey Philips and Rallis India hit their fresh 52-week highs in today's trade, while Setubandhan Infra , Tejas Networks , LCC Infotech , Travel Food Services and N R Agarwal Ind hit fresh 52-week lows in trade.
Time of India
10-07-2025
- Business
- Time of India
Indices: Stock market update: Nifty Realty index advances 0.72%
India 10-year bond yield rose 0.05 per cent to 6.03 after trading in 6.02-6.04 range. The Nifty Realty index closed 0.72 per cent up at 974.7. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW DELHI: The Nifty Realty index closed on a positive note on of Prestige Estates Projects Ltd.(up 2.82 per cent), Lodha Developers Ltd.(up 1.57 per cent), Anant Raj Ltd.(up 1.23 per cent), Sobha Ltd.(up 1.03 per cent) and Oberoi Realty Ltd.(up 0.66 per cent) ended the day as top gainers in the the other hand, Raymond Ltd.(down 0.65 per cent) and Phoenix Mills Ltd.(down 0.6 per cent) finished as the top losers of the Nifty Realty index closed 0.72 per cent up at NSE Nifty50 index ended down 120.85 points at 25355.25, while the BSE Sensex stood down 345.8 points at the 50 stocks in the Nifty index, 11 ended in the green, while 39 closed in the of JP Power PC Jeweller and Sagility India were among the most traded shares on the of Quality Power Electr Prostarm Info System , Lloyds Steels(PP)and Innovana Thinklabs hit their fresh 52-week highs in today's trade, while Mahalaxmi Fabric Mil , TECIL Chemicals, Dreamfolks Services, Anisha Impex and Ola Electric Mobilit hit their fresh 52-week lows.
