Prestige Estates Projects Ltd., incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 11214.10 Crore) operating in Real Estate sector.
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1875.00 Crore, up 47.21 % from last quarter Sales of Rs 1273.70 Crore and down -2.49 % from last year same quarter Sales of Rs 1922.90 Crore. Company reported net profit after tax of Rs 105.90 Crore in latest quarter.
Now with debt under control and superior execution skills the brokerage believes PEPL remains well placed. It introduces FY23 estimates and maintain ‘BUY’ on PEPL with a Mar’22 TP of INR 370 (implying 32% upside). Key risks: slowdown in leasing.
Promoters held 65.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 29.6 per cent, DIIs 2.8 per cent and public and others 1.9 per cent