Please refer to important disclosures at the end of this report
1
Prestige Estate Projects Ltd. (Prestige) is the flagship company of Prestige Group.
The company has over 30 years of experience in real estate development, and is
one of the leading real estate developers in South India.
Prestige continues to
draw strength from the company’s established track record of more than 30
years in the real estate industry with strong project execution capabilities and
leading position in the residential real estate market in Bangalore. Prestige
has diversified operations across residential, commercial, retail and
hospitality segments. The company draws comfort from the management’s
stated policy of maintaining adequate liquidity buffer in the form of cash
balances (`390crore as on September 30, 2016). Accordingly the compan
y
continues to maintain its guidance of 10msf of new launches and `3500-
4000cr of pre-sales in FY17. The Company also guided that the rental
income portfolio would grow from the existing `600cr to `1400cr in the nex
t
3-4 years. Going forward, the demand scenario in the residential real estate
market and the ability of the company to bring new launches and achieve
sales volumes in line with the earlier trends, timely execution of the ongoing
projects, as well as its ability to tie up lease rentals for ongoing commercial
and retail projects will be the key and will boost company’s revenue. Hence
Buy.
BUY
CMP `244
Stock Info
Sector
Beta
Bloomberg Code
Shareholding Pattern (%)
Promoters 70.0
MF / Banks / Indian Fls 4.8
FII / NRIs / OCBs 24.5
Indian Public / Others 0.8
Abs. (%) 3m 1yr 3yr
Sensex 7.4 13.6 28.2
Prestige Estate 41.2 38.8 40.1
.
52 Week High / Low 258/141
Avg. Daily Volume 52,849
Construction
Market Cap (
`
cr) 9,154
10
BSE Sensex 29,319
Nifty 9,105
Face Value (
`
)
Reuters Code PREG.BO
PEPL@IN
0.9
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Prestige Estates Projects
Others | Construction
April 21, 2017
Prestige Estate Projects | Construction
A
pril 21, 2017
2
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com
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offering of securities of the company covered by Analyst during the past twelve months.
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Disclosure of Interest Statement Prestige Estate Projects
1. Financial interest of research analyst or Angel or his Associate or his relative No
2. Ownership of 1% or more of the stock by research analyst or Angel or associates or relatives No
3. Served as an officer, director or employee of the company covered under Research No
4. Broking relationship with company covered under Research No
Ratings (Based on expected returns Buy (> 15%) Accumulate (5% to 15%) Neutral (-5 to 5%)
over 12 months investment
p
eriod
)
: Reduce
(
-5% to -15%
)
Sell
< -15
)