Prestige Estates Shares Rise 2% as Brokerages Cheer Record Q1 Performance

Shares of Prestige Estates Projects rose 2% to ₹1,678 on July 10, after the company posted its best-ever quarterly performance, drawing praise from both global and domestic brokerages.

The jump in share price comes after the real estate developer released its April–June quarter update, where it reported a massive 300% year-on-year jump in pre-sales to ₹12,126.4 crore — a new all-time high for the company.

“This is Prestige’s strongest quarter to date,” noted a market analyst.

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NCR Market Leads the Charge

A key highlight of the quarter was the strong performance in the NCR (National Capital Region) market, which contributed a whopping 59% to overall bookings.

The company sold 4,718 units across various locations, with sales volumes growing 234% to 9.55 million square feet. Additionally, collections rose 55% to ₹4,522.7 crore, reinforcing the company’s robust financial standing.

Brokerages Stay Positive

The stellar numbers triggered positive reactions from top brokerages:

• Morgan Stanley maintained its Overweight rating with a target price of ₹1,700.

• Nuvama raised its target price to ₹2,009 and reiterated a Buy recommendation.

Morgan Stanley highlighted that the Q1 pre-sales exceeded expectations, supported by strong inventory movement and a healthy pipeline of upcoming launches.

The firm also pointed to the upcoming listing of Prestige’s hotel business, suggesting it could help reduce concerns around leverage and improve financial metrics.

Solid Outlook Ahead

The upbeat brokerage calls signal continued optimism in Prestige Estates’ growth story. With strong demand in the NCR market, record-breaking sales, and a pipeline of launches, analysts believe the company is well-positioned for further success in the coming quarters.

“It’s not just about one strong quarter—Prestige is showing signs of sustained momentum,” said a brokerage note.

Conclusion

With a record-breaking Q1, strong market presence in NCR, and bullish analyst calls, Prestige Estates is firmly on the investor radar. As the company gears up for more launches and possibly a hotel business listing, market watchers will be keeping a close eye on its next move.

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