Prestige Estates Projects, incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 16407.27 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 the company's residential segment further scales up, the cash flow generation will be sufficient to take care of business development spending and commercial capex requirements without straining the balance sheet, which is a key investor concern. Furthermore, once the commercial portfolio fully stabilizes over the next five to six years, it will generate rental income of INR 32b, which is right now not fully implied into the current valuation.
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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