India's Prestige Estates reverses course to drop after Q4 profit slump

Prestige Estates Projects

29/05/2024 08:13

** Shares of India's Prestige Estates Projects  PREG.NS 
down 2.8%, reversing early gains
    ** PREG among top losers on Nifty Realty index  .NIFTYREAL ,
which is down 0.8%
    ** Bengaluru-focussed developer's Q4 net profit slumps 70%,
rev dipped on weak overall housing sales in the city
    ** Stock set to drop for fourth straight session
    ** YTD, stock had risen over 28%, in-line with realty gauge

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))