During Q2FY26, Prestige Estates recorded sales of Rs 6,017 crore, marking a 50% year-on-year growth, driven by strong demand across markets and segments. Sales volume for the quarter stood at 4.42 million square feet, up 47% YoY, translating to 2,069 units sold. The average realization for apartments rose 8% YoY to Rs 14,906 per square foot, while plots saw a sharp 43% increase to Rs 9,510 per square foot.
For H1FY26, total sales volumes aggregated 13.96 million square feet, representing 6,788 units sold. The average realization for apartments stood at Rs 13,769 per square foot, up 6% YoY, while plots averaged Rs 8,425 per square foot, reflecting a 17% YoY increase.
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Nomura maintains a Buy rating on Prestige Estates with a target price of Rs 1,900. The strong performance was driven by the Crystal Lawns plotted development project (GDV Rs 530 crore) and robust sustenance sales of about Rs 4,000 crore versus the estimated Rs 3,000 crore. Prestige has already achieved 69% of its FY26E pre-sales guidance, and Nomura expects full-year pre-sales to reach Rs 29,000 crore, surpassing its initial guidance.
Morgan Stanley reiterates its Overweight rating. With a pending launch pipeline of Rs 28,400 crore as of Q1FY26, Prestige enjoys strong visibility toward achieving its FY26 target of Rs 25,000–27,000 crore. LTM pre-sales grew 65% YoY, collections rose 54% to Rs 4,210 crore, and 1HFY26 collections were up 55% YoY. The company continues to lead peers in FY26 pre-sales growth, supported by diversification and market share gains in Mumbai and NCR. Key upside drivers include the Crystal Lawns launch in Bengaluru (Rs 540 crore GDV) and total new launches of 3.87 msf across Bengaluru and NCR during the quarter, the brokerage added.
Citi also maintains a Buy rating, highlighting a healthy Q2FY26 business update driven by strong pre-sales in Bengaluru and Mumbai. The brokerage notes that FY26 pre-sales guidance remains comfortably achievable, while a potential separate listing of hospitality assets could unlock additional value. Citi also points to positive execution in the office and retail portfolios, along with promising business development outside Bengaluru, reinforcing its bullish stance on the stock.
At around 9:20 am, Prestige Estates shares were trading at Rs 1,607, up 6.2% from the previous close on the NSE. The stock has risen 45% over the past six months.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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