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Motilal Oswal Report
The recent land acquisition in NCR has further strengthened Prestige Estate Projects Ltd.'s portfolio. We believe that as the company provides further growth visibility on its residential segment through the expansion of its project pipeline and advances on its key commercial projects, further accretion is imminent.
While leverage has always remained a key investor concern, the recent scale-up in its residential and commercial segment and the company’s plans to monetize its hospitality portfolio has put those concerns to rest.
We reiterate our Buy rating on the stock with an increased target price of Rs 1,535, indicating a 17% upside potential.
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Also Read: Consumer Sector - Volume Print To Improve; Risk-Reward In Favor: Motilal Oswal's Thematic View
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