Prestige Estates Shares Surge The Most In Over Eight Months On Record H1 Sales

Shares of Prestige Estates are trading with gains of over 5% following an exceptionally strong pre-quarterly business update, where the company registered highest highest-ever sales in a first half of the financial year.

The stock is currently trading at Rs 1,592, reaching an intraday high of Rs 1,618. The rally comes at a time when the stock has fallen more than 14% in the last 12 months.

It appears Prestige's strong quarterly business update has vastly improved investor sentiment, especially after the company exceeded full-year FY25 sales in just the first half of FY26.

The company also confirmed that sales demand remains robust, with the Bengaluru market itself accounting for 40% of the sales mix in Q2FY26.

In light of its business update, Nomura released a note on Prestige Estates, retaining the 'buy' call on the counter while maintaining a target price of Rs 1,900.

The brokerage highlighted that the Bengaluru-based company has already reached 69% of its pre-sales guidance, thereby affirming Prestige as the top pick in the real estate space.

Prestige's strong quarterly update comes against the backdrop of robust sentiment around India's real estate market,

As far as Prestige Estate is concerned, the stock is currently trading at a relative strenght index of 51, which suggests neutral market sentiment, with the Nifty Realty index gaining more than 12% in the last six months.

Nineteen out of the 21 analysts tracking the company have a 'buy' rating on the stock, one recommends a 'hold', and one suggests a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 1,915, implying an upside of 21% from current levels.