Growth visibility intact across segments

Company
03 Apr 2024
5 Min read 
  • Prestige Estates reported strong growth in bookings and is on track to achieve its pre-sales guidance.
  •  The company is expanding its project pipeline in key markets to sustain growth.
  •  Monetization of the hospitality portfolio and a platform deal will reduce leverage burden.
  •  The company has a strong rental portfolio and plans to deliver more office assets.
  •  Net debt is expected to peak at INR90-95b, which is manageable for the company.
  •  The stock has a buy rating with a target price of INR1,535, indicating a 17% upside potential.
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