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Prestige Estate Projects Ltd. Stock Analysis

Mid Cap
Evaluated by 1364 users | BSE: 533274 | NSE: PRESTIGE |
Construction - Real Estate
Prestige Estate 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. The partners of the firm were the Late S Razack, Irfan Razack, Rezwan Razack and Sameera Noaman....

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Prestige Estate Projects Ltd. has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 9.28%5.45%8.59%8.5%9.6%7.7%6.75%5.82%6.39%6.51%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,3857451,5122,0052,4503,2612,1762,9932,4413,356
Y-o-Y Gr. Rt.--46.2%102.9%32.6%22.2%33.1%-33.3%37.5%-18.4%37.5%
Adjusted EPS (Rs.) 5.33.637.498.4710.6110.2910.656.197.55.51
Y-o-Y Gr. Rt.--31.5%106.3%13.1%25.3%-3%3.5%-41.9%21.2%-26.5%
Book Value per Share (Rs.) 62.364.8377.3884.89103.85110.77126.33131.07113.33131.39
Adjusted Net Profit 174119262296398386399232281221
Net Op. Cash Flow (Rs. Cr.) -4511855.5-9.1-407-163-10614675.3220
Debt to Cash Flow from Ops -2.216.32283.47-199.51-5.81-22.18-31.0727.7563.3721.93
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Prestige Estate Projects Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 10.3%6.5%15.5%37.5%
Adjusted EPS 0.4%-12.3%-19.7%-26.5%
Book Value per Share 8.64.81.315.9
Share Price 14.3% 6.4% -3.9% -7.3%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 13.025.7210.8410.4311.69.588.984.816.144.64
Operating Profit Margin (%) 23.3831.8727.6525.2328.4817.7120.4419.2226.329.85
Net Profit Margin (%) 12.5615.9917.3314.7816.2511.8318.357.7511.536.58
Debt to Equity 0.490.550.580.610.610.870.70.821.120.91
Working Capital Days 5801,4649158148598931,6571,2941,8561,463
Cash Conversion Cycle 3548254303443453247704931,1201,050
Entity Percentage Holding
Promoters 65.48%
Institutions 32.57%
Non-Institutions 1.95%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Prestige Estate Projects Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that Prestige Estate Projects Ltd. is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Prestige Estate Projects Ltd.'s performance infers:

Prestige Estate Projects Ltd. earnings have declined by -12.3%, whereas share price has appreciated 6.4% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Prestige Estate Projects Ltd. share prices over the last 10 years. Here is what we found out:

Prestige Estate Projects Ltd. share price has appreciated 5.6% annually over the past ten years.

Prestige Estate 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. The partners of the firm were the Late S Razack, Irfan Razack, Rezwan Razack and Sameera Noaman.

The name of the firm was changed to Prestige Estates Projects by a supplementary deed of partnership dated May 12, 1997. The firm was registered as a private limited

Prestige Estate 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. The partners of the firm were the Late S Razack, Irfan Razack, Rezwan Razack and Sameera Noaman.

The name of the firm was changed to Prestige Estates Projects by a supplementary deed of partnership dated May 12, 1997. The firm was registered as a private limited company under Part-IX of the Companies Act, 1956, on June 4, 1997 with the name as Prestige Estates Projects Private Limited. All the business and property of the erstwhile partnership firm therefore became vested in the company. The company was converted to a public limited company on November 10, 2009 with the name Prestige Estates Projects Limited and received a fresh Certificate of Incorporation consequent upon change in status on November 10, 2009 from the RoC. The company is promoted by Irfan Razack, Rezwan Razack and Noaman Razack.

The company has over 23 years of experience in real estate development, and is one of the leading real estate development companies in south India. It has completed 142 real estate projects of approximately 27.09 million sq. ft. It has developed a diversified portfolio of real estate development projects focusing on the projects in residential (including apartments, villas, plotted developments and integrated townships), commercial (including corporate office blocks, built-to-suit facilities, technology parks and campuses and SEZs), hospitality (including hotels, resorts and serviced accommodation) and retail (including shopping malls) segments of the real estate industry.

Subsidiaries of the company

  • Downhills Holiday Resorts
  • Exora Business Parks
  • Foothills Resorts
  • ICBI (India)
  • Northland Holding Company
  • Pennar Hotels and Resorts
  • Prestige Bidadi Holdings
  • Prestige Construction Ventures
  • Prestige Leisure Resorts
  • Prestige Mangalore Retail Ventures
  • Prestige Mysore Retail Ventures
  • Prestige Shantinikethan Leisures
  • Prestige Valley View Estates
  • Prestige Whitefield Investment and Developers
  • Team United Engineers (India)
  • Valdel Xtent Outsourcing Solutions
  • Village De Nandi
  • West Palm Developments

Awards

  • 2014 - Asia's Shopping Centre & Mall Awards India's Most Promising Brands 2014


  • 2013 - Srishti – Good Green Governance Awards

                                CREDAI Real Estate Awards
                                IMAGES SHOPPING CENTRE AWARDS
                                Realty Plus Awards 2013
                                NDTV Property Awards 2013
                                Asia Pacific Property Awards 2013
                                Indian Green Building Council (IGBC)
                               CNBC Awaaz Real Estate Awards 2013

  • 2012

                                  Asia Pacific Property Awards 2012
                                  Indian Green Building Council (IGBC)

  • 2011

                               Mysore Horticultural Society Award
                               Realty Plus Excellence Awards 2011
                               Asia Pacific Property Awards 2011

  • 2010

                                Srishti Good Green Governance Awards 2010
                               CNBC Awards Awards 2010
                               Asia Pacific Commercial Property Award 2010
                               Town Planning Award 2010
                               Crisil Real Estate Star Ratings 2010

  • 2009: UB City was awarded the Best Mixed Use Development (India) award by CNBC Asia Pacific Property Awards
  • 2009: Prestige Golfshire was awarded the Best Golf Development (India) award by CNBC Asia Pacific Property Awards
  • 2009: Prestige Golfshire was awarded the Highly Commended Best Mixed Used Development-Future award at the Cityscape Awards, Real Estate, Asia
  • 2009: Prestige Elgin won an award in the Heritage (Restoration) Category at the Prix d'Excellence Awards
  • 2008: The company was awarded the Best Developer (Retail Project) award at the Real Estate Excellence Awards
  • 2008: The company was awarded the Overall Achievement Award at the Real Estate Excellence Awards
  • 2008: UB City awarded the Outstanding Corporate Structure of Karnataka award at the ICI-KBC Birla Super Endowment Award
  • 2008: The Forum highly commended under the category of Best Developer Retail (Built) at the Cityscape Asia Real Estate Awards
  • 2008: The Forum was awarded the Most Admired Shopping Centre of The Year: Retailers Choice award by Images Shopping Centre Awards (ISCA)
  • 2008: Prestige Elgin was awarded the Best Redevelopment award at the CNBC Asia Pacific Property Awards
  • 2008: Prestige Exotica was awarded the Best High-Rise Development award at the CNBC Asia Pacific Property Awards
  • 2008: Prestige Acropolis was awarded the Best Architecture (Multiple-Units) award at the CNBC Asia Pacific Property Awards
  • 2008: Prestige South Ridge was awarded the Best Property Marketing award at the CNBC Asia Pacific Property Awards
  • 2008: Prestige Neptune’s (courtyard) was awarded the Best Marina Development award at the CNBC Asia Pacific Property Awards
  • 2008: Prestige South Ridge was awarded the Best Interior Design at the CNBC Asia Pacific Property Awards
  • 2008: Angsana Oasis Resort and Spa were awarded the Best Destination Spa at the Pevonia Asia Spa Awards, 2008
  • 2007: The company has been recognized as a Member in Good Standing in the Fellowship of Good Green Governance, by Srishti
  • 2007: UB City was awarded the Best Developer award in the Mixed Use Category at the Cityscape Real Estate Awards
  • 2007: The Forum was rated as the Best Mall in the Country at the Real Estate Excellence Awards
  • 2007: Prestige Acropolis was highly commended in the Residential Category Award by FAIBCI
  • 2005: The company scored Euro Money Award for excellence in real estate
  • 2004: The company was highly commended in the software facility category by FAIBCI
  • 2002: Prestige Acropolis was awarded in the Residential Category at the International Real Estate Federation (FIABCI) Awards
  • 1998: Prestige Opal and Prestige Four Seasons were rated by FAIBCI among the 30 best developments in the world
  • 1998: Prestige Meridian was awarded the Best Building of the Year by the Accommodation Times, Mumbai

Milestones

  • 2009: The company was converted into a public limited company with the name Prestige Estates Projects Limited and received a fresh Certificate of Incorporation consequent upon change in status from the RoC.
  • 2009: The company inaugurated the Forum Value Mall
  • 2008: The company started operations of Oakwood Premier Prestige, serviced apartments at UB City
  • 2008: Inaugurated the Collections, a luxury mall at UB City
  • 2008: Entered into strategic alliance with CRIDF for developing malls across South India
  • 2008: Launched Prestige Golfshire
  • 2008: Entered into a relationship with UIOF
  • 2007: Entered into a relationship with Red Fort India Real Estate Holdco ILLC to develop commercial space and townships.
  • 2007: Expanded operations to Cochin, Chennai and Hyderabad
  • 2007: Inaugurated UB City, its largest mixed use development
  • 2006: Inaugurated Prestige Ozone, a villa development
  • 2006: Launched Prestige Shantinikethan, an integrated township
  • 2006: Launched Cessna Business Park, an SEZ
  • 2004: Inaugurated Forum Mall, its first retail project
  • 2003: Received CRISIL DA-1 rating (indicating excellent rating for ability to execute real estate projects as per specified quality level within stipulated time schedule and ability to transfer clean title)
  • 2001: Commenced operation of Angsana, its first hospitality project
  • 2001: Received ISO 9001:2000 Certification
  • 2000: Inaugurated Prestige Acropolis
  • 1998: Foray into property management services
  • 1997: Inaugurated Prestige Elgin, its 50th project
  • 1997: The firm -- Prestige Estates Project -- was registered as Prestige Estates Projects Private Limited, a private limited company under Part-IX of the Companies Act, 1956
  • 1997: The name of the partnership firm was changed to Prestige Estates Projects
  • 1995: Inaugurated Whistling Palms, its first plotted development project
  • 1988: Completed Copper Arch on Infantry Road, its first project
  • 1986: The company commenced operations as the partnership firm Prestige Estates and Properties
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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