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.