AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 1 Oct - Bombay High Court restores Turf View project de-registration and promoter change; disputes settled on 29 September 2026.
Source: Bse
Prestige Estates Projects Limited (PRESTIGE)
Mid CapReal Estate stocks · Mid cap · NSE
Prestige Estates Projects Limited is a diversified real estate developer with a presence across residential, commercial, retail, and hospitality verticals. The company has completed over 200 million sq ft across 300 projects since inception and is expanding its footprint across key Indian geographies.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result30 Jul, 01:22 am IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Real Estate P/E 22.2 (n=72)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -6.0% / mo · MACD + · sector -6.4pp vs Nifty 500 (3M)
Stock trend: 39
Sector RS: 44
Sector 3M: -12.0% vs Nifty 500 -5.6%
Real Estate FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
PRESTIGED candles · FIT view+7.4%Latest close ₹1475.00 on 2026-10-19
Bar
-1.0%
RSI
49
MACD hist
9.40
52W pos
54%
2026-10-19O ₹1490.00H ₹1503.00L ₹1464.00C ₹1475.00Vol 2.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PRESTIGENifty RealtyNifty 500
- PRESTIGE
- -11.6%
- Nifty 500
- -5.6%
- Nifty Realty
- -11.0%
- Vs Nifty 500
- -6.1 pp
Chart stats
19 Oct 2026- From 52W high
- -18.3%
- 52W range position
- 54%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.50x
- Avg traded value
- ₹81.4 Cr
- 20D price channel
- ₹1,389.8 - ₹1,507.4
₹1,805.2
₹1,090 - ₹1,805.2
₹44.8
Latest completed session
20-session average
33.7% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management trust is supportive, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED25
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +15.9% · PAT -13.1% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model-67.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Healthy Trust80
medium confidence · 3/4 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -13% YoY · margin compression · Rev +16% YoY
Filed 29 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,675 Cr | +15.9% | -34.3% |
| EBITDA | ₹849 Cr | -3.2% | -15.9% |
| Operating margin | 32.0% | -600 bps | +700 bps |
| PAT | ₹271 Cr | -13.1% | -7.2% |
| PAT margin | 10.1% | -339 bps | +296 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 55.80
- P/B
- 3.90
- EV/EBITDA
- 17.86
- Market Cap
- 63533.00Cr
Profitability
- ROE
- 7.53%
- ROCE
- 10.40%
- ROA
- 1.74%
- Dividend Y
- 0.14%
Growth (CAGR)
- Revenue 5Y
- 12.00%
- EPS 5Y
- 21.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 18.00%
Balance Sheet
- Debt/Equity
- 1.09
- Interest Coverage
- 2.24×
- Altman Z
- 1.40
- Book Value
- 378.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- 3223.00 Cr
- EPS TTM
- 26.45
Shareholding
- Promoter Hold
- 60.95%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 54%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 12.7k+72.6% vs prev
Net Profit
₹ CrLatest: 1,305+111.5% vs prev
Return on Equity
%Latest: 8.0+100.5% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 49. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~6.4% over last month) — short-term momentum negative.
- RSI(14) at 49 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 18% off 52W high · 35% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
47
RS percentile
Stage 1 Base / Transition
1M return
+2.8%
3M return
-11.6%
6M return
+4.9%
1Y return
-16.1%
RS 1D
+2
RS 20D
-1
Sector rank
#12
Industry rank
#18
Stage evidence
- Price is within 0.1% of the 30-week proxy.
- The 30-week proxy changed +1.0% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 100.83-0.12%
RS vs Nifty 500101
Valuation & peers
U-Score 25 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 25 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth15/25
Quality3/20
Balance Sheet2/15
Cash Flow2/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
25
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
25/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 15/25 to the score.
- Cash flow contributes 2/10 to the score.
- Quality contributes 3/20 to the score.
Main drags
- Altman Z is 1.4, in distress territory.
- Fair-value margin of safety is negative at -67.5%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Real estate valuation: NAV, pre-sales, debt, and inventory quality
Real estate valuation depends more on project economics and balance sheet than simple PE.
Primary lens
NAV and market cap versus project pipeline and pre-sales.
Secondary checks
Inventory age, net debt, collections, execution record.
Main risk check
Book value can overstate value if inventory is slow or debt is high.
PE
55.8
PB
3.9
EV/EBITDA
17.9
ROE
7.5%
ROCE
10.4%
FCF Yield
—
Debt/Equity
1.1
MoS
-67.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
25
Previous: 25
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-67.5%
Previous: -67.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
25
25
25
25
25
25
25
25
25
25
25
25
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹474.3
-211.0% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹880.78
-67.5% MoS
PEG
2.82
Comparable companies
Peers
Business-comparable peers in Real Estate — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
OBEROIRLTY
Mid
Oberoi Realty Limited
Real Estate
match 173
55
23.4
14.6%
+30%
FAIR VALUE
GODREJPROP
Mid
Godrej Properties Limited
Real Estate
match 165
33
29.6
8.8%
+10%
WATCHLIST
DBREALTY
Micro
Valor Estate Limited
Real Estate
match 164
31
—
-1.3%
-801%
OVERVALUED
PSPPROJECT
Small
PSP Projects Limited
Real Estate
match 164
21
41.3
4.5%
-837%
OVERVALUED
LIKHITHA
Small
Likhitha Infrastructure Limited
Real Estate
match 164
26
27.5
10.0%
-90%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-04T07:40:38.468Z
Management commentary snapshot
Prestige Estates reports highest ever annual sales of over INR30,000 crores in FY26, up 76% YoY, with collections crossing INR18,500 crores, up 53% YoY. PAT grew 113% YoY to INR1,312 crores, driven by robust launches and strong demand.
The company delivered record operational and financial performance in FY26, driven by strong presales, collections, and new launches across key markets. Management's guidance for 15-20% growth in sales and collections for FY27, coupled with a robust launch pipeline and strategic land acquisitions, supports continued momentum. Debt levels are managed with a cap of 0.75x D/E.
Growth engines
Successful NCR Market Entry
Launched maiden residential project in NCR, generating sales of over INR9,500 crores from a single project.
Diversified Geographic Sales
Performance well-diversified geographically with Bangalore, NCR, and Mumbai contributing meaningfully to overall sales.
Strong Project Pipeline
Added projects with a GDV of over INR50,000 crores in FY26, strengthening future pipeline across Bangalore, Mumbai, NCR, Hyderabad, Chennai.
Resilient Annuity Business
Annuity business (commercial, retail, hospitality) maintained healthy occupancy levels and delivered steady operational performance.
Capacity and execution
FY27 Project Launches (GDV)
Exciting project launches coming up with a GDV of almost INR58,000 crores in addition to INR19,000 crores inventory.
Q1 FY27 Launches
Already began FY27 with Prestige Golden Grove in Hyderabad (INR9,500 crores project) and planned INR5,000 crores GDV from Gardenia Phase 2 (Bangalore), Palm Court (Chennai), Forest Hills (Mumbai).
Delhi Hospitality Project Completion
St. Regis, Marriott Marquis, and 600k+ sq ft office in Delhi expected to be ready, with hotel trading starting after Diwali.
Noida Bougainvillea Project
Master plan approved for Noida project; building plans to be approved, ready for launch in next quarter.
Tailwinds
Sustained Demand
Healthy demand conditions and momentum across cities, with no sign of slowdown in mid-to-high income segments.
Strong Commercial Leasing
Sustained leasing demand from GCCs, tech companies, and domestic corporates for commercial portfolio.
Favorable Regulatory Environment
New dispensation talking positive things, hopefully approvals will not take too long for new projects.
Headwinds
Labor Shortage (Temporary)
Labor had gone for elections; started coming back, expect full labor by first week of June.
Rising Raw Material Prices
Availability of materials is there, but pricing is definitely going to go up.
Risk radar
Revenue Recognition Lag
Gap between presales (INR30,000 crores) and revenue recognition (INR9,000-9,500 crores residential) impacts reported EBITDA margins.
Regulatory Approval Delays
New land acquisitions (Ramco, TVS in Chennai) will take 6-8 months for approvals before launch.
High Base for Future Growth
After a phenomenal sales jump from INR17,000 crores to INR30,000 crores, the base is very high, making further growth challenging.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
Real estate is a project-based and often seasonal business. Year-on-year comparisons provide a clearer picture of underlying growth trends, project cadence, and market demand, mitigating quarterly noise from project completions and launch schedules.
Sector KPIs management disclosed
Annual Sales (Presales)
Highest ever annual sales of over INR30,000 crores, reflecting a growth of over 76% year-on-year.
Annual Collections
Collections crossed INR18,500 crores, reflecting a strong 53% year-on-year growth.
Annual Launches (Area)
Launched over 31 million square feet during the year.
Annual Launches (GDV)
Launch GDV of approximately INR27,000 crores.
Management forward view
FY27 Sales & Collections Growth
Targeting 15% to 20% growth in sales and collections for FY27, aiming to exceed guidance.
Debt-to-Equity Cap
Comfortable with current debt levels; kept a cap of 0.75x debt-equity, not expecting to reach it.
Annuity Monetization Plan
Plan is to build out and lease commercial/hospitality assets, then explore REIT or IPO to unlock capital.
Stabilized EBITDA Margin
Reported EBITDA margin expected to be in the range of 25% on a stabilized business, moving to 28% when revenue recognition catches up with presales.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| FY27 Presales Growth | FY26: 76% YoY growth to INR30,000 crores | Achieving management's 15-20% growth guidance for FY27, especially from new launches. |
| Net Debt to Equity Ratio | Approx. 0.65x | Staying below the 0.75x cap, especially with ongoing land acquisitions and capex. |
| Commercial/Hospitality Leasing & Monetization | BKC 70% pre-leased, Mahalaxmi deliberately slow (10% leased), Delhi hotels opening after Diwali. | Progress on leasing Mahalaxmi and Delhi hotels, and clarity on REIT/IPO timelines for capital unlocking. |
| Key Project Approvals | Chennai (Ramco, TVS) 6-8 months for approvals; Noida master plan approved, building plans pending. | Timely receipt of regulatory approvals for major projects to maintain launch cadence. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
project executionnot yet verifiablequantified
Four residential projects, including Marigold Phase 2, Prestige City Fernvale, Eaton Park, and Evergreen at Prestige Raintree Park, are expected to launch in Q3 FY26.
Timeframe: Q3 FY26Direction: positiveConfidence: I believe
"I believe that 4 projects can get launched this quarter itself"
revenue outlookdeliveredquantified
Retail annuity portfolio exit rentals are expected at around INR275 crores for FY26.
Timeframe: FY26 exitDirection: increaseConfidence: expected
"Exit rentals for FY '26 are expected at around INR275 crores."
Outcome check: Revenue YoY averaged 150.4% across 2 later quarter(s).
revenue outlookdeliveredquantified
Sustenance sales are expected to generate an additional INR6,500 crores in presales over the next two quarters.
Timeframe: next 2 quartersDirection: increaseConfidence: will give
"my first tenant sales will give me another INR6,500 crores for the next 2 quarters."
Outcome check: Revenue YoY averaged 150.4% across 2 later quarter(s).
revenue outlookdeliveredquantified
Office annuity portfolio exit rent is projected at INR820 crores for FY26.
Timeframe: FY26 exitDirection: increaseConfidence: projected
"FY '26 exit rent is projected at INR820 crores."
Outcome check: Revenue YoY averaged 150.4% across 2 later quarter(s).
Trust Score
80Healthy Trust · medium confidenceClaim-tested Trust
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Management has 100% delivered/partly-delivered outcomes on 3 checked claims. It ranks around the 90th percentile of the scored universe and 98th percentile within Real Estate. Main check: balance sheet trust is weak at 35/100.
High Trust: 3/4 extracted management claims have outcome checks; 100% were fully delivered and 0 were partially delivered. 3/3 matched management claims were delivered.
Computed 20 Oct 2026
management-trust-v1
12 extracted concalls · 3/4 claims matched
Score band
Healthy Trust
Generally investable credibility. Look for weak sub-scores before increasing position size.
Relative rank
90th percentile
overall median 67 · Real Estate: 98th pctile, median 61 · Mid: 70th pctile, median 76
Evidence depth
Early sample
3/4 claims checked. Use as directional, not final.
Claim delivery
100% delivered or partly delivered
3/4 claims checked · No contradicted claim yet
How to read this Trust Score
Healthy Trust · medium confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Useful directional evidence exists, but still verify the latest filings.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
35
weak · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
64
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 61%.
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸3/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Altman Z is 1.40.
- ▸Debt/equity is 1.09.
- ▸ROE is low at 7.5%.
- ▸OPM spread across recent quarters is 16%.
Continue researching Prestige Estates Projects Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Acquisition 10 Sep - Prestige incorporated Southgrove Homes LLP and Parkgrove Realty LLP on September 9, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 29 Sep - CPP Investments to invest INR 30 billion for 27% stake in Prestige Hospitality Ventures.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 29 Sep - Prestige completed Clairemont and Bellagio in Hyderabad, delivering 1,047 homes.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 25 Sep - Prestige launched Parklane in Bengaluru: 11.91 acres, 1,788 homes, GDV ₹1,750 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Sep - Prestige launches Garden Breeze at Sarjapur: 10 acres, 655 apartments, Rs. 1,100 crore GDV.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 3 Sep - Prestige adds 17.14-acre Gurgaon land parcel; residential project has 2.8 million sq ft saleable area and ₹5,600 crore GDV.
Source: Bse
Credit ratingAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 7 Aug - ICRA reaffirmed Prestige Estates’ ratings at A+ Stable and A1 on August 7, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 28 Aug - Prestige launches Palm Court in Madhavaram, Chennai: 7.98 acres, 910 apartments, ₹1,330 crore GDV.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements 10 Aug - CPPIB to invest up to ₹3,000 crore in PHVL for up to 28% stake under binding framework agreement.
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Company Ir
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Company Ir
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.