Shares of Prestige Estates Projects Limited climbed 2.37%, trading at ₹1,668.05 on the NSE as of 9:52 am, following optimistic guidance from the company and positive commentary from HSBC on the real estate sector.
Prestige Estates’ management expressed confidence in achieving ₹18,000 crore in pre-sales for FY25, supported by a ₹50,000 crore inventory pipeline at various stages of approval. The company also plans to launch 2-3 key projects in the last month of Q3 FY25, with Chennai developments nearing approval.
Adding to the sector’s bullish outlook, HSBC commented that Q2 bookings appeared slower, not due to lack of demand, but limited inventory availability. The firm emphasized the need for new land acquisitions to sustain growth momentum and maintained a Buy rating on Godrej Properties, DLF, Prestige Estates, and Sobha.
This positive outlook and strategic focus on scaling operations across key markets have bolstered investor confidence, driving gains in Prestige Estates and the broader real estate sector.
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