India's Prestige Estates rise; analysts welcome 'stellar' Q1 sales

Prestige Estates Projects

10/07/2025 05:54

** Prestige Estates Projects PREG.NS rises 2.9% to 1,698 rupees

** Antique Stock Broking (retains "buy"; raises PT 11% to 2,195 rupees) says co "begins FY26 with a stellar performance", "recovery firmly on track"

** Adds PREG reported subdued FY25; hurt by delay in launch timeline

** Real estate developer's Q1 sales jumps 300% y/y to 121.26 bln rupees ($1.42 bln), helped by strong New Delhi debut

** Morgan Stanley ("overweight", PT: 1,700 rupees) says co topped brokerage's Q1 sales estimates of 104 bln rupees

** Citi ("buy", PT: 1,730 rupees) says co's Q1 performance "strong" and in line with expectations

** See revision in FY26 outlook, new launch timeline as key catalysts - Citi

** Stock rated "buy" on avg; median PT is 1,727.50 rupees, per data compiled by LSEG

** YTD, PREG down 0.2%

($1 = 85.6200 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))