Prestige Estates Projects Ltd News

Puravankara, Oberoi rally up to 10%; BSE Realty index surges 17% in 1 month

HDFC Securities maintains a positive outlook on the overall residential real estate market, driven by robust end-user demand and the strong execution capabilities of established players

UBS initiates coverage on DLF, Oberoi & Prestige, says sector in sweet spot

UBS has set a target price of Rs 1,005 for DLF; Rs 2,175 for Prestige Estates; and Rs 2,230 for Oberoi Realty

Prestige Estates Q2 bookings down 43% at Rs 4,022 cr despite strong demand

Realty firm Prestige Estates Projects Ltd's sales bookings fell 43 per cent to Rs 4,022.6 crore in the second quarter of this fiscal despite strong housing demand. In a regulatory filing on Thursday, Prestige Estates informed that it recorded sales of Rs 4,022.6 crore during the July-September quarter against Rs 7,092.6 crore in the year-ago period. During the April-September period, the sales bookings declined to Rs 7,052.2 crore against Rs 1,100.73 crore during the corresponding period of the preceding financial year. Prestige Estates is one of the leading real estate developers in the country.

Prestige Group eyes Rs 1,100 cr revenue from new housing project in B'luru

Realty firm Prestige Group has launched a new housing project in Bengaluru with a sales potential of Rs 1,100 crore. The project 'Prestige Pine Forest', spread over 9 acres, is located at Whitefield in Bengaluru. The company will develop 316 units in 4 towers, the company said in a statement on Monday. Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments -- residential, office, retail, hospitality, property management, and warehouses with operations in more than 13 major locations in India. The group has completed more than 300 projects spanning a developable area of 190 million square feet.

Prestige Estates raises Rs 5,000 crore by selling equity shares via QIP

Realty firm Prestige Estates Projects Ltd has raised Rs 5,000 crore by selling equity shares to institutional investors through private placement. The company had on August 29 launched its Qualified Institutional Placement (QIP) to raise funds. In a regulatory filing on Wednesday, Prestige Estates informed that a fundraising committee of the board approved the allocation of 2,98,68,578 equity shares at an issue price of Rs 1,674 apiece to eligible institutional investors. The issue price was at a discount of 4.62 per cent on the floor price of Rs 1,755.09 per share fixed by the panel. In July, the company had taken approval of its shareholders to raise capital by way of public or private offerings including through a QIP to eligible investors through an issuance of equity shares or other eligible securities for an amount not exceeding Rs 5,000 crore. Bengaluru-based Prestige Estates is one of the leading developers of the country, with a significant presence in the south Indian ..

RVNL, Voda Idea, Dixon, HDFC Bk can rally up to 27% on MSCI inclusion boost

MSCI India August rejig: 7 stocks to be included in the India Index, HDFC Bank weightage to increase in 2 tranches; Bandhan Bank on its way out.

Rate sensitive shares trade mixed as RBI keeps repo rate unchanged at 6.5%

At 11:07 AM, the Nifty Bank, Nifty Auto, Nifty Realty, and Nifty Financial indices were trading less than 0.30 per cent lower each, as compared to a 0.50-per cent decline in the Nifty 50 index

Prestige Estates Projects Q1 results: Net profit down 3.4% at Rs 307 crore

The realty firm's revenue from operations stood at Rs 1,862.1 crore in Q1 FY25 against Rs 1,680.9 crore in the corresponding period last year

Prestige Estates Projects Q1 results: Net profit falls 12% to Rs 233 cr

The housing market, especially in the premium segment, has seen continued growth in the past few quarters, with higher-end buyers remaining unfazed by inflationary pressures

Nifty Realty up 2.5% on July 29; what's driving the rally? Analysts weigh

A major driver behind this rally, analysts said, is DLF's strong June quarter performance.

Realty indexation benefit gone, tax rate cut in Budget 2024. Stock strategy

Union Budget 2024-25 impact: DLF, Brigade Enterprises, Prestige Estates, Godrej Properties and Sunteck Realty dropped up to 5 per cent afer FM proposed to withdraw indexation benefit on house resale.

Prestige Estates reports Q1 sale bookings down 23% at Rs 3,029 cr

Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period. In a regulatory filing, Prestige Estates said the company sold 2.86 million square feet in April-June against 3.83 million square feet in the corresponding period of the previous year. Total units sold during the first quarter of 2024-25 were 1,364. The average realisation was Rs 11,934 per square feet for apartments, villas and commercial spaces, up by 16 per cent year-on-year (yoy). Plots saw an average realisation of Rs 7,285 per sq ft, up by 46 per cent yoy. "We are pleased with our performance in Q1 FY25, which reflects our robust market presence. Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of Rs 3,000 crore," Irfan Razack

Prestige Estates up 3% after board okays fundraising of Rs 5,000 cr via QIP

The uptick in share price came after Prestige Estates announced that its board has approved fundraising of up to Rs 5,000 crore via qualified institutional placement (QIP)

Prestige Estates plans to raise Rs 5,000 cr via QIP, monetise hotel biz

Realty firm Prestige Estates Projects Ltd plans to raise up to Rs 5,000 crore by selling shares to institutional investors and also monetise its hotel business. According to a regulatory filing on Friday, the company's board approved "raising of funds by way of issuance of equity shares or other eligible securities for an aggregate amount not exceeding Rs 5,000 crore by way of qualified institutional placement (QIP) or other permissible mode." The board also approved plans to "monetise assets of the hospitality segment through its arm Prestige Hospitality Ventures Ltd, by way of issue of shares (through primary or secondary or both)." All these decisions are subject to approval of shareholders. For monetisation of hospitality assets, the board has formed a sub-committee to oversee and structure the process. "The committee is tasked with the responsibility of ensuring compliance with all regulatory requirements, coordinating with advisors and underwriters, and making all necessary