Prestige Estates Projects (PEPL IN) – Q2FY27 Result Update – Healthy quarter; Launch heavy 2HFY27 – BUY
Published on 11 Nov 2026
Prestige Estate Projects Ltd (PEPL) reported pre-sales growth of 20% YoY to INR 72.3bn, along with healthy collections of INR53bn; improved 26% YoY in Q2FY27. PEPL has delivered healthy pre-sales CAGR of 32% over FY23–26, led by new launches, entry into new markets, and premiumization. Supported by a healthy launch pipeline (~40msf with potential GDV of INR466bn) across key market including Bengaluru, Chennai, Mumbai, NCR and Hyderabad and unsold inventory of INR 213bn+, we expect pre-sales to clock 10-15% CAGR over FY26–29E. Further, given the strong OCF generation and comfortable balance sheet position, PEPL should be able to comfortably fund BD and capex. Maintain ‘BUY’ rating and DCF-derived NAV with SOTP-based TP of INR 1,800/share.
