Target: ₹2,295
CMP: ₹1,690.25
Prestige Estates (PEPL) has a diverse portfolio with a presence in the residential, office, retail and hospitality segments. The company’s H1-FY26 incremental BD of ₹33,100 crore and a launch pipeline of ₹77,000 crore are expected to drive a presales CAGR of 40 per cent over FY25-28, reaching ₹46,300 crore by FY28.
PEPL is expanding its office & retail segment to 50msf and scaling up its hospitality portfolio. As a result, office and retail rental income is likely to cumulatively clock a 53 per cent CAGR to reach ₹2,510 crore, while hospitality revenue is expected to post a 22 per cent CAGR over FY25-28, reaching ₹1,600 crore.
Commercial income is projected to improve to INR33b by FY30E as all underconstruction assets become fully operational. PEPL has rapidly gained market share in MMR, entered the NCR market with significant traction, and is also scaling up in Pune, which will generate incremental income streams.
As the company advances its growth trajectory in both residential and commercial segments and unlocks value from its hospitality segment, we believe the stock is set for a further re-rating.
Therefore, we remain highly confident in PEPL’s growth prospects and reiterate our Buy rating with a TP of ₹2,295
Published on December 5, 2025
