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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Prestige Estates Projects Ltd

About the Company - Prestige Estates Projects Ltd

Prestige Estates Projects Ltd. is a Public Limited Listed company incorporated on 04/06/1997 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L07010KA1997PLC022322 and registration number is 022322. Currently Company is involved in the business activities of Construction of buildings. Company’s Total Operating Revenue is Rs. 4559.20 Cr. and Equity Capital is Rs. 400.90 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
RealtyPrestige Falcon Tower, No.19, Brunton Road, Bengaluru Karnataka 560025properties@prestigeconstructions.com
http://www.prestigeconstructions.com
Management
NamePosition Held
Mr. Irfan RazackChairman & Managing Director
Mr. Rezwan RazackJoint Managing Director
Mr. Noaman RazackWhole Time Director
Mrs. Uzma IrfanDirector
Mr. Noor Ahmed JafferIndependent Director
Dr. Pangal Ranganath NayakIndependent Director
Mr. Biji George KoshyIndependent Director
Mr. Jagdeesh K ReddyIndependent Director
Ms. Neelam ChhiberIndependent Director

Prestige Estates Projects Ltd. Share Price Update

Share PriceValue
Today₹1,202.85
Previous Day₹1,212.25

Basic Stock Data of Prestige Estates Projects Ltd

Market Cap 45,139 Cr.
Current Price 1,126
High / Low1,440/391
Stock P/E26.6
Book Value 275
Dividend Yield0.14 %
ROCE10.3 %
ROE7.56 %
Face Value 10.0

Data Source: screener.in

Competitors of Prestige Estates Projects Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Marathon Nextgen Realty Ltd 2,241 Cr. 438490/25515.7 1690.22 %16.8 %17.7 % 5.00
RKEC Projects Ltd 268 Cr. 112120/48.518.5 67.90.00 %18.9 %11.9 % 10.0
Ramky Infrastructure Ltd 4,439 Cr. 6411,009/26016.6 2340.00 %15.8 %8.79 % 10.0
SS Infrastructure Development Consultants Ltd (SSINFRA) 6.80 Cr. 4.808.10/4.60 32.40.00 %2.48 %9.56 % 10.0
Phoenix Mills Ltd 51,775 Cr. 2,8982,937/1,18652.2 4940.18 %9.94 %11.4 % 2.00
Industry Average66.36 Cr239.5620.6199.460.08%12.78%11.87%7.4

Prestige Estates Projects Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales1,8751,8482,2461,4161,3001,3282,4001,9381,4282,3172,6321,6812,236
Expenses1,3521,4111,7101,0869369651,9011,4791,0611,7451,9501,1581,651
Operating Profit523436536330364362500459367572682522585
OPM %28%24%24%23%28%27%21%24%26%25%26%31%26%
Other Income42812,891584620903223193303412851,020
Interest244241248132150129174185186201235238264
Depreciation166140122113114113130147163170168166174
Profit before tax1541363,0581431461401,0983512112326204041,167
Tax %39%35%12%35%34%33%14%28%30%30%19%21%22%
Net Profit94882,677929694945251149162505318910
EPS in Rs1.491.4666.421.431.952.2023.435.113.513.1911.686.6621.23

Prestige Estates Projects Ltd Quarterly Chart

Prestige Estates Projects Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,0521,9482,5493,4205,5314,7745,4995,1728,1257,2426,3908,3158,866
Expenses7541,3681,8292,4264,4643,8554,2223,7185,7695,3084,8726,2276,504
Operating Profit2995797209941,0689201,2771,4542,3561,9341,5172,0882,362
OPM %28%30%28%29%19%19%23%28%29%27%24%25%27%
Other Income3264979928899822321613,0361,0187801,677
Interest1191492293213463165667231,023979555807938
Depreciation616889140127164155323667593471647677
Profit before tax1514265006318825396386408273,3981,5091,4142,423
Tax %41%31%35%42%26%31%33%31%34%15%20%25%
Net Profit822913213676533734254425492,8781,2151,0671,895
EPS in Rs2.528.178.988.8616.267.069.9011.0810.0669.4128.6923.4942.76
Dividend Payout %48%15%17%17%7%17%12%14%15%2%5%6%

Prestige Estates Projects Ltd Profit & Loss Yearly Chart

Prestige Estates Projects Ltd Growth

Compounded Sales Growth
10 Years:16%
5 Years:9%
3 Years:1%
TTM:3%
Compounded Profit Growth
10 Years:10%
5 Years:14%
3 Years:24%
TTM:202%
Stock Price CAGR
10 Years:24%
5 Years:41%
3 Years:58%
1 Year:168%
Return on Equity
10 Years:8%
5 Years:7%
3 Years:7%
Last Year:8%

Prestige Estates Projects Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital328350350375375375375375401401401401401
Reserves1,8232,3922,6293,4463,8254,0404,3583,8524,9597,6008,6949,57410,632
Preference Capital0000000001431620
Borrowings1,8782,5393,1544,0715,3745,7397,4168,4879,2724,7557,2509,42011,059
Other Liabilities1,9092,3753,2084,4636,8866,6766,75415,72014,84412,34313,82616,87619,922
Total Liabilities5,9387,6569,34212,35516,46016,83018,90228,43329,47625,10030,17136,27142,014
Fixed Assets1,5462,0302,3773,0109323,6225,1356,7328,9863,7805,8586,7807,040
CWIP5229129957769821,7952,5081,6452,1432,7401,7252,3992,615
Investments1741752892793,2963554357787899077721,0231,304
Other Assets3,6964,5395,6808,29111,25011,05810,82519,27717,55817,67221,81626,06931,055
Total Assets5,9387,6569,34212,35516,46016,83018,90228,43329,47625,10030,17136,27142,014

Prestige Estates Projects Ltd Reserves and Borrowings Chart

Prestige Estates Projects Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 227106148-4784355141,0727622,2261,8392,1401,540
Cash from Investing Activity -575-662-693-426-710-522-2,005-549-2,346355-4,016-2,697
Cash from Financing Activity 2088233711,104225-8096087252-6341,598546
Net Cash Flow-141267-174200-50-87263001331,560-278-612

Prestige Estates Projects Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days2941501049475776411766698158
Inventory Days7,5742,5001,9547,470
Days Payable1,795269221633
Cash Conversion Cycle2941501049475775,8431172,2971,8036,91858
Working Capital Days42718114726118922010848-675247252
ROCE %7%12%12%13%12%8%11%10%13%11%8%10%

Prestige Estates Projects Ltd Financial Efficiency Indicators Chart

Prestige Estates Projects Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters65.48%65.48%65.48%65.48%65.48%65.48%65.48%65.48%65.48%65.48%65.48%65.48%
FIIs29.45%28.90%28.15%25.31%24.67%24.28%23.73%23.17%22.21%21.19%20.68%19.50%
DIIs2.94%3.60%3.93%5.68%6.37%6.82%7.59%8.09%9.41%10.50%11.27%12.82%
Public2.13%2.01%2.44%3.53%3.47%3.42%3.20%3.26%2.90%2.83%2.57%2.20%
No. of Shareholders31,08929,23040,19848,84658,20860,58357,79062,49661,40966,43259,39974,550

Prestige Estates Projects Ltd Shareholding Pattern Chart

No. of Prestige Estates Projects Ltd Shareholders

Prestige Estates Projects Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Flexi Cap Fund - Regular Plan77250001.83774.74
Mirae Asset Large & Midcap Fund44329401.47444.58
HDFC ELSS Tax Saver Fund40000003.29401.16
Motilal Oswal Midcap Fund40000005.9401.16
Nippon India Growth Fund37270541.75373.79
Mirae Asset Midcap Fund25157321.97252.3
HDFC Focused 30 Fund - Regular Plan25000003.23250.73
Mirae Asset ELSS Tax Saver Fund22019091.17220.83
Franklin India Prima Fund21970002.37220.34
HDFC Large and Mid Cap Fund - Regular Plan16231001.21162.78

Prestige Estates Projects Ltd ROCE Trend

Prestige Estates Projects Ltd EPS Trend

Prestige Estates Projects Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)23.4928.6936.3210.6311.08
Diluted EPS (Rs.)23.4928.6936.3210.6311.08
Cash EPS (Rs.)42.3342.4654.1230.2019.58
Book Value[Excl.RevalReserv]/Share (Rs.)255.89238.14176.98139.40115.70
Book Value[Incl.RevalReserv]/Share (Rs.)255.89238.14176.98139.40115.70
Revenue From Operations / Share (Rs.)207.41159.38181.20202.66137.92
PBDIT / Share (Rs.)63.4443.5155.1261.7241.76
PBIT / Share (Rs.)47.3031.7640.3345.0933.15
PBT / Share (Rs.)34.8638.0652.3020.5216.26
Net Profit / Share (Rs.)26.1930.7139.3413.5710.97
NP After MI And SOA / Share (Rs.)23.4928.6836.3210.0511.08
PBDIT Margin (%)30.5827.2930.4130.4530.27
PBIT Margin (%)22.8019.9222.2522.2524.03
PBT Margin (%)16.8023.8728.8610.1211.78
Net Profit Margin (%)12.6219.2721.706.697.95
NP After MI And SOA Margin (%)11.3217.9920.044.968.03
Return on Networth / Equity (%)9.4412.6421.817.529.83
Return on Capital Employeed (%)12.548.7415.4413.7813.08
Return On Assets (%)2.573.775.451.351.44
Long Term Debt / Equity (X)0.340.440.361.161.12
Total Debt / Equity (X)0.810.710.541.611.94
Asset Turnover Ratio (%)0.170.200.160.130.13
Current Ratio (X)1.121.231.050.900.89
Quick Ratio (X)0.440.500.450.220.20
Dividend Payout Ratio (NP) (%)6.385.220.0028.8710.82
Dividend Payout Ratio (CP) (%)3.783.700.0010.886.09
Earning Retention Ratio (%)93.6294.780.0071.1389.18
Cash Earning Retention Ratio (%)96.2296.300.0089.1293.91
Interest Coverage Ratio (X)3.153.142.232.422.17
Interest Coverage Ratio (Post Tax) (X)1.921.761.111.491.45
Enterprise Value (Cr.)22739.6624592.5513883.3114643.6317043.63
EV / Net Operating Revenue (X)2.733.851.911.803.30
EV / EBITDA (X)8.9414.106.285.9210.88
MarketCap / Net Operating Revenue (X)1.943.101.690.821.82
Retention Ratios (%)93.6194.770.0071.1289.17
Price / BV (X)1.622.181.841.262.23
Price / Net Operating Revenue (X)1.943.101.690.821.82
EarningsYield0.050.050.110.050.04

Prestige Estates Projects Ltd Profitability Ratios (%)

Prestige Estates Projects Ltd Liquidity Ratios

Prestige Estates Projects Ltd Liquidity Ratios (%)

Prestige Estates Projects Ltd Interest Coverage Ratios (X)

Prestige Estates Projects Ltd Valuation Ratios

Fair Value / Intrinsic Value of Prestige Estates Projects Ltd

Fair Value: ₹553.79

The stock is overvalued by 50.82% compared to the current price ₹1126

*Investments are subject to market risks

Strength and Weakness of Prestige Estates Projects Ltd

StrengthWeakness
  1. The company has higher reserves (5,217.23 cr) compared to borrowings (23.46 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (4.85 cr) and profit (403.15 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 39.53 and average Dividend Yield of 22.25%.
  2. The stock has a low average ROCE of 10.58%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 179.08, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 81.92, which may not be favorable.

Should I Buy Prestige Estates Projects Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Prestige Estates Projects Ltd:
    1. Net Profit Margin: 12.62%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.54% (Industry Average ROCE: 25.5%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 1.92
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.44
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 26.6 (Industry average Stock P/E: 12.28)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.81
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Prestige Estates Projects Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE