Prestige Estates Projects (PEPL IN) – Q4FY26 Result Update – Strong FY27 outlook across annuity and residential – BUY
Published on 26 May 2026
Prestige Estate Projects Ltd (PEPL) reported pre-sales growth of 11% YoY to INR77bn, along with strong collection of INR 52.3bn; up 66% YoY in Q4FY26. 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 (~58msf with potential GDV of INR578.3bn) across key market including Bengaluru, Chennai, Mumbai, NCR and Hyderabad, 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
