Muted performance on account of lower launches

Company
02 Aug 2024
5 Min read 
  • Prestige Estates Projects reported 1QFY25 results with changes in estimates, target price, and rating.
  •  Muted performance due to lower launches and a 20% drop in pre-sales.
  •  Sales volume dipped 25% YoY, while realizations were up 4% YoY.
  •  Company's net debt increased by INR12b to INR82b.
  •  PEPL aims to monetize its hospitality portfolio in the next year.
  •  The company's growth outlook remains intact with a strong launch pipeline.
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