Prestige Estates Projects Ltd., incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 11240.16 Crore) operating in Real Estate sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1928.20 Crore, up .60 % from last quarter Total Income of Rs 1916.70 Crore and down -28.49 % from last year same quarter Total Income of Rs 2696.30 Crore. Company reported net profit after tax of Rs 99.00 Crore in latest quarter.
Investment Rationale
The brokerage retains ADD rating with a SOTP based target price of Rs311/share. Key risks to the call are a slowdown in residential demand and continued weakness in office leasing.
Promoter/FII Holdings
Promoters held 65.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 29.6 per cent, DIIs 2.8 per cent and public and others 2.1 per cent.