Prestige Estates surges on eyeing Rs 550 crore of rental income

24 Jun 2014

Prestige Estates Projects is currently trading at Rs. 222.20, up by 4.65 points or 2.14% from its previous closing of Rs. 217.55 on the BSE.

The scrip opened at Rs. 218.00 and has touched a high and low of Rs. 223.70 and Rs. 218.00 respectively. So far 7987 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 265.00 on 09-Jun-2014 and a 52 week low of Rs. 105.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 243.70 and Rs. 213.20 respectively. The current market cap of the company is Rs. 7750.75 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 23.64% and 1.36% respectively.

Prestige Estates Projects is targeting Rs 550 crore of rental income per annum by FY17 and expects Rs 5,000 crore of pre-sales in FY15. The company’s ‘Prestige Falcon City’ in Bangalore has seen good pre-launch. The company is waiting for final approval on ‘Prestige Temple Bells’ on Mysore Road, which it expects to launch next quarter. It is also focusing on two large projects in Hyderabad, which are awaiting approvals.

Prestige Estates Projects commenced operations as a partnership firm constituted under the Indian Partnership Act, 1932 on April 1, 1986 under the name and style of Prestige Estates and Properties.

Related Prestige Estate Projects Ltd. Links:

Prestige Estate Proj Share Price

268.30 -0.90 (-0.33%) May 12, 18:01
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