Prestige Estates Projects (PEPL IN) – Q1FY27 Result Update – Pre-sales to accelerate- BUY
Published on 31 Jul 2026
Prestige Estate Projects Ltd (PEPL) reported pre-sales de-growth of 46% YoY to INR65.8bn, along with healthy collections of INR48bn; improved 6% YoY in Q1FY27. 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 INR450bn) across key market including Bengaluru, Chennai, Mumbai, NCR and Hyderabad and unsold inventory of INR 367bn+, we expect pre-sales to clock 15-20% CAGR over FY26–28E. 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 Rs1,800/share.
