Espresso shot of the day – Prestige Estates Projects Ltd up by 10.01 percent

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Espresso shot of the day – Prestige Estates Projects Ltd up by 10.01 percent

September 03, 2021
Espresso shot of the day – Prestige Estates Projects Ltd up by 10.01 percent

PRESTIGE ESTATES PROJECTS LTD 422.70 (+10.01%) BSE – INE811K01011 | 3RD SEPTEMBER 2021


Over the last decade, the Prestige Group has firmly established itself as one of the leading and most successful developers of real estate in India by imprinting its indelible mark across all asset classes. Founded in 1986, the group’s turnover is today in excess of Rs 3,518 crores (for FY 15); a leap that has been inspired by CMD Irfan Razack and marshaled by his brothers Rezwan Razack and Noaman Razack. As of June 30, 2020, the group has completed 247 projects, covering 134 million sq. ft., and currently has 45 ongoing projects covering over 53 million sq. ft., 56 million sq. ft. of upcoming projects, and holds a land bank of 262 acres with potential developable area of 27 million sq. ft. The market capital of the company as on June 30, 2020, was Rs 8,402.1 crores. The group’s turnover for the quarter ended June 30, 2020, was Rs 1,296.3 crores. The company has diversified over time into a number of related/non-related services, each of them spearheaded by individuals with adroit capacity. Services are as varied as the interior designing done by Morph Design Company (MDC) and the redefinition of elegance and suave in men’s formal dressing by Prestige Fashions (P) Ltd. They are also the only developers in South India to boast of such a widely diverse portfolio covering the residential, commercial, retail, leisure and hospitality segments.

Recent Drivers

  • On Aug 24, 2021, the company informed that, through its wholly owned subsidiary M/s. Prestige Office Ventures, it has acquired 70% equity stake in Shipco Infrastructure Private Limited.
  • On Aug 11, 2021, the company reported quarterly net profit at Rs 57.30 crores in June 2021, up 3481.25% from Rs 1.6 crores in June 2020.
  • On Aug 11, 2021, the company reported net sales at Rs 1,415.80 crores in June 2021, up 11.16% from Rs 1,273.7 crores in June 2020.
  • On Aug 10, 2021, the Board of the Directors at their meeting recommended payment of final dividend @ 15% (Rs 1.5 per share) on the equity shares of the company for the year ended Mar 31, 2021, subject to the approval of shareholders at the ensuing 24th Annual General Meeting of the company.
  • On Aug 10, 2021, the Board of Directors at their meeting approved issuance of non-convertible debentures for an aggregate amount up to Rs 1,000 crores on private placement basis.
  • On Aug 8, 2021, Prestige Group planned to invest more than Rs 3,500 crores to develop around 7 million sq. ft. of commercial real estate in the Bandra Kurla Complex (BKC) and Turf View at Mahalakshmi in South Mumbai.
  • On June 23, 2021, Prestige Estates Projects has infused an amount of Rs 2 lakhs to acquire 100% stake in Ariisto Developers for undertaking a realty project in Mulund, Mumbai.
(Sources: Business Standard, Moneycontrol, BSEIndia.com, The Economic Times)


Technical Force*

  • S&P BSE 500 month till date gain up by 1.38%
  • Traded on all-time-high value: 436.75
  • 3 months avg. NSE volume: 13,41,402
  • Quantity traded: 4,18,502 | Deliverable quantity: 1,20,989 (28.91%)
  • Stock price has jumped more than 90% from one-year low level: 222.4 (Sept 9, 2020)
  • Daily RSI (14) is in Overbought territory today
  • 52-week-high: 436.75 | 52-week-low: 222.4

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

 709.12

567.63

416.82

275.33

124.52

-

-

    -

Fibonacci Pivot

567.63

455.97

386.99

342.56

275.33

208.10

163.67

94.69

    -


Today’s Close

422.70

SMA

BSE

10 DAY

359.28

20 DAY

354.19

50 DAY

332.34

200 DAY

295.86


Some Key Ratios (Source: BSE)

Market Cap: 16,944.42 crores

PE: 82.45

OPM%: 22.44

ROE%: 3.75

Promoters holding%: 65.48

Prev. Close: 384.25

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.