Prestige Estates Share Zooms Over 6 % In Trade On Monday; Check Reasons Here
Prestige Estates opened strong on 12 May 2025, climbing 6.15 % to an intraday high of ₹1,361.25, while the BSE Sensex added about 2.4 %. By 9:45 AM, the stock hovered near ₹1,337.05, still well above Friday’s close. The rally followed two big headlines: a ₹361 Cr Velachery land buy that launches a ₹1,600 Cr premium project in Chennai and ₹3,000 Cr first-week bookings for 1,200 homes at the new 62.5-acre Prestige City Indirapuram township.
The stock opened near ₹1,282, dipped below ₹1,300, soared to ₹1,361.25, and closed close to ₹1,337 on turnover twice its three-month average, lifting market value past ₹71,000 Cr as the Sensex ended roughly 1,700 points higher. The wide swing showed brisk buying by domestic funds and retail traders.
Prestige and Arihant formed Canopy Living LLP and paid ₹361 Cr for 3.48 acres in Velachery, Chennai. The site will host 7.5 lakh sq ft of upscale homes with a projected GDV above ₹1,600 Cr and a sales launch targeted for FY 2026. Chairman Irfan Razack called Chennai “central to our pan-India push.” The Velachery deal complements the group’s upcoming 21.9-acre Prestige Pallava Gardens near Pallavaram, a ₹3,000 Cr township that will add more than 2,000 city-view apartments.
Prestige’s first NCR venture—The Prestige City Indirapuram—moved 1,200 units worth ₹3,000 Cr in seven days. The 62.5-acre campus will deliver 4,041 homes, an eight-lakh sqft Forum Mall, and 80 % open space beside NH-24, ensuring swift links to Delhi and Noida. Phase-one blocks Oakwood and Mulberry alone hold ₹9,000 Cr sales potential across two- to six-bedroom apartments.
Prestige has finished 302 projects covering 193 Mn Sq Ft. It is building or planning 130 more, adding 203 Mn Sq Ft. Flagship launches include 35-acre Prestige Southern Star in Bengaluru (₹3,500 Cr GDV), eight-tower Nautilus in Mumbai (₹8,600 Cr), the freshly mentioned Prestige Pallava Gardens in Chennai (₹3,000 Cr), and Spring Heights in Hyderabad (₹3,400 Cr). Management eyes bookings worth ₹52,000 Cr by March 2025 while guarding a land bank of roughly 728 acres.
Prestige trades near 153 × trailing earnings and 4.3 × book, slotting between Godrej Properties at about 105 × PE and DLF near 75 × PE, with Sobha closer to 35 × PE. Year-to-date, Prestige has outpaced peers after the Indirapuram launch, suggesting the market expects faster presales scaling and stable rentals.
Management aims for ₹24,000 Cr presales in FY 25 after ₹10,065 Cr in the first nine months, supported by high-velocity launches and steady annuity income of ₹719 Cr for offices and ₹217 Cr for retail. Net debt stands near ₹5,960 Cr with a net-debt-to-equity of 0.37 ×, safely below the 0.5 × cap. HDFC Securities set a ₹1,914 target in March 2025, hinting at further upside if launches stay on track.
Large builds demand flawless execution; any RERA delays or cost spikes could slow cash flow. Expansion into fresh cities brings new rules and partners, while interest-rate moves may test debt comfort. Still, high occupancy—90 % in offices, 99 % in retail—helps cushion cycles.
Investors cheered a ₹1,600 Cr Chennai JV plus ₹3,000 Cr week-one NCR bookings, sending the stock up 6.15 %.
Canopy Living LLP will build 7.5 lakh sq ft of premium homes on 3.48 acres in Velachery, targeting a ₹1,600 Cr GDV.
The launch moved 1,200 units worth over ₹3,000 Cr in seven days, part of a ₹12,000 Cr township.
Yes—new sites include Mumbai, Hyderabad, Goa, Delhi-NCR, and Chennai’s 21.9-acre Prestige Pallava Gardens.
HDFC Securities’ March 2025 note pegs fair value at ₹1,914 per share, above Monday’s mid-₹1,300 level.
Prestige Estates leapt 6.15 % to ₹1,361.25 after locking a ₹361 Cr Velachery deal, launching a ₹1,600 Cr JV, confirming ₹3,000 Cr NCR bookings, and lining up big-ticket launches like Prestige Pallava
Prestige Group pre launch new project is Prestige Pallavaram Gardens
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