Prestige Estates Projects Ltd., incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 11546.82 Crore) operating in Real Estate sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2360.60 Crore, up 22.43 % from last quarter Total Income of Rs 1928.20 Crore and up 17.04 % from last year same quarter Total Income of Rs 2016.90 Crore. Company reported net profit after tax of Rs 1351.00 Crore in latest quarter.
Investment Rationale
The brokerage retains ADD rating with a revised DCF based target price of Rs317/share (earlier Rs311) factoring in balance sheet adjustments. 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 March 31, 2021, while FIIs held 29.1 per cent, DIIs 3.4 per cent and public and other 2 per cent.
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