Buy Prestige Estates Projects, target price Rs 1535: Motilal Oswal

Motilal Oswal has buy call on Prestige Estates Projects with a target price of Rs 1535. The current market price of Prestige Estates Projects is Rs 1329.

Prestige Estates Projects Ltd., incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 52659.19 Crore) operating in Real Estate sector.

Prestige Estates Projects Ltd. key Products/Revenue Segments include Income from Sale of Commercial Flats, Shops & Plots, Property Development, Other Services, Project Management Fees, Sale of services and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company has reported a Consolidated Total Income of Rs 1970.50 Crore, down -39.48 % from last quarter Total Income of Rs 3256.00 Crore and down -16.06 % from last year same quarter Total Income of Rs 2347.50 Crore. Company has reported net profit after tax of Rs 181.00 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 65.48 per cent stake in the company as of 31-Dec-2023, while FIIs owned 18.07 per cent, DIIs 13.17 per cent.