Prestige Estates Projects, incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 16128.67 Crore) operating in Real Estate sector.
Prestige Estates Projects key Products/Revenue Segments include Income from Sale of Commercial Flats, Shops & Plots, Property Development, Sale of services, Other Services, Project Management Fees and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mr.Irfan Razack, Mr.Rezwan Razack, Mr.Noaman Razack, Mr.Uzma Irfan, Mr.Noor Ahmed Jaffer, Dr.Pangal Ranganath Nayak, Mr.Biji George Koshy, Mr.Jagdeesh K Reddy, Ms.Neelam Chhiber. Company has S R Batliboi & Associates LLP as its auditors. As on 31-12-2022, the company has a total of 40 Crore shares outstanding.
Investment Rationale
As per the brokerage, while the company’s aspirations to grow its residential and annuity business is laudable, the company’s ability to achieve significant pre-leasing in ongoing/upcoming annuity assets (particularly in Mumbai) along with strata sales will be the key monitorable going forward in order to keep overall debt levels in check.
Promoter/FII Holdings
Promoters held 65.48 per cent stake in the company as of 31-Dec-2022, while FIIs owned 22.21 per cent, DIIs 9.41 per cent.
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