Tag: Prestige Estate Projects

Prestige Estates Projects reported strong residential sales bookings of ₹129 billion in FY23. However, the company's net debt levels have risen by ₹25.6 billion over the last 12 months. The key monitorable going forward will be Prestige's ability to achieve significant pre-leasing in ongoing and upcoming annuity assets. We retain our target price of ₹611 per share but have cut our rating to HOLD from ADD.