Indian developer Prestige's residential project launch to boost FY26 pre-sales, CLSA says

Prestige Estates Projects

29/04/2025 09:30

** Real estate developer Prestige Estates' PREG.NS launch of key residential project in Indirapuram, Ghaziabad, to drive FY26 pre-sales and allay concerns over its FY25 pre-sales forecast miss, CLSA says

** CLSA reiterates "outperform", PT 1,315.8 rupees; PREG last up 3.5%

** CLSA says project, with over 100 billion rupees ($1.17 billion) sales potential, will likely be launched in coming days since co has secured regulatory approval

** Believes co can sell 60%-70% of project, marking its entry into National Capital Region market, in FY26

** Project will garner strong response given its location, scale, and mid-income positioning - CLSA

** Stock down 19.6% YTD

($1 = 85.2050 Indian rupees)

 (Reporting by Aleef Jahan in Bengaluru)

 ((aleefjahan.cs@thomsonreuters.com))