Prestige Estates Projects lists at Rs 190/share

MUMBAI: Shares of Prestige Estates Projects listed at Rs 190, premium of 3.85 per cent against issue price of Rs 183 per share on the NSE.

At 9:30 am, the South India based real estate development company was at Rs 194, up Rs 11 or 6.01 per cent. It touched a high of Rs 208.80 and low of 189.85 in early trade on volume of 63.31 lakh shares.

On the BSE, the scrip was at Rs 192.40, up Rs 9.4 or 5.13 per cent. The stock touched a high of Rs 209 and low of Rs 190 on volume of 42.81 lakh shares.

Established in 1986, the company has completed 142 projects totaling to 27.09 msf. The company has a well balanced business model with projects in residential, commercial, hospitality and retail segment. PEPL currently holds development rights for 52.57 msf of developable area.