Prestige Estates Projects, incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 16266.97 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
Prestige Estates Projects (PEPL) continued strong pre-sales by achieving over Rs25bn in Q3FY23 and collected Rs23bn while launched 4.06msf across segments and geographies. Also delivered 11.04msf of projects in Bangalore & Kochi. PEPL is confident to achieve Rs120bn presales guidance (9MFY23 Rs90.4bn) as the company has already done presales of ~Rs10bn in Jan’23. PEPL in next 4-5years is expected to add Rs24.7bn and Rs5.4bn annuity from office and retail projects respectively with a balance capex of Rs159bn.
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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