Synopsis:
Prestige Estates rose 7% intraday after posting record H1 FY26 sales of ₹1,81,437 million, surpassing FY25 figures. Growth was driven by strong launches, robust collections, and along with it, Nomura and Morgan Stanley maintained bullish views with a target price of ₹1,900.
The shares of a Mid-Cap company, specializing in the development of residential, commercial, retail, and hospitality properties, operating across major cities in India and internationally, have rallied upto 7 percent in the Intraday trade. Let’s explore the reason for the rise in this article.
With a market capitalization of Rs. 67,484.66 crores on Thursday, the shares of Prestige Estates Projects Ltd rose by upto 6.7 percent, making a high of Rs. 1615.50 per share compared to its previous closing price of Rs. 1513.60 per share.
What Happened
Prestige Estates Projects Ltd, engaged in the development of residential, commercial, retail, and hospitality properties, operating across major cities in India and internationally, has rallied upto 7 percent in the intraday trade following the latest company update and brokerage outlook by Nomura and Morgan Stanley.
In its recent filing today, the company reported its highest-ever H1 sales of Rs. 1,81,437 million in FY26, up 157% year-on-year, surpassing its full-year FY25 sales, driven by strong demand, robust collections, and successful launches across geographies.
Prestige Group is one of India’s most respected and diversified real estate developers, with a legacy of almost four decades and a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities.
In Q2 FY26, the company achieved sales of Rs. 60,173 million, with 2,069 units sold over 4.42 million sq ft. Average realizations improved for both apartments and plots, while collections for H1 rose 55% YoY to Rs. 87,356 million. Sales were well-diversified across key cities, reflecting solid all-round performance.
Along with it, in H1 FY26, Prestige Estates saw a well-diversified sales mix, with NCR contributing the highest at 45%, followed by Bengaluru (27%), Mumbai (16%), Hyderabad (7%), and others. The company launched 18.81 million sq ft of projects in H1 with a GDV of Rs. 1,75,922 million, including 3.87 million sq ft in Q2 across key locations, with a total gross development value (GDV) of Rs. 39,669 million.
Notable Q2 launches include Mayflower at The Prestige City in NCR and multiple plotted developments in Bengaluru. Total project completions for H1 stood at 7.99 million sq ft, with 2.53 million sq ft completed in Q2, including Aspen Greens and Avalon Park in Bengaluru.
In Q2 FY26, Prestige Estates’ office segment recorded gross leasing of 2.3 million sq ft with a healthy occupancy of 93.42%, and projected FY26 exit rentals of Rs. 8,199 million. The retail segment delivered a strong performance with Rs. 6,236 million in turnover (up 9% YoY), 4.8 million footfalls, 99% occupancy, and estimated exit rentals of Rs. 2,717 million for FY26.
Brokerage Outlook
Furthermore, Nomura has maintained a Buy rating on Prestige Estates with a target price of Rs. 1,900, citing strong performance driven by the Crystal Lawns project (GDV Rs. 530 crore) and higher-than-expected sustenance sales of Rs. 4,000 crore. The company has already achieved 69% of its FY26 pre-sales target, and Nomura now expects full-year pre-sales to exceed guidance, reaching Rs. 29,000 crore.
Morgan Stanley has reiterated its Overweight rating on Prestige Estates with a target price of Rs. 1,900, highlighting strong launch visibility with a Rs. 28,400 crore pipeline as of Q1FY26, well above the FY26 pre-sales target of Rs. 25,000–27,000 crore. The company reported 65% YoY growth in LTM pre-sales and 55% YoY growth in H1 collections.
Prestige continues to outperform peers, driven by market share gains in Mumbai and NCR, with key growth drivers including the Crystal Lawns launch (Rs. 540 crore GDV) and 3.87 msf of new launches in Bengaluru and NCR.
The company’s revenue rose by 23.91 percent from Rs. 1,862 crore in June 2024 to Rs. 2,307 crore in June 2025. Meanwhile, Net profit rose from Rs. 307 crores to Rs. 312 crores during the same period.
Written by Sridhar J
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