Prestige Estates plans to achieve a valuation of ₹20,000 crore through an IPO in the hospitality sector with JM Financial, JPMorgan, and CLSA as bankers. Mumbai and Delhi see significant YoY growth in luxury housing prices, with Indian real estate firms focusing on ultra-luxury projects. Mumbai experiences an 11.5% increase in luxury real estate prices in the past year, ranking third globally. Prestige Estates Projects stock hits record high following a 'buy' rating by CLSA and a target price raise to Rs 2,320.
Prestige Estates | CMP: Rs 1,916 | The stock of this realty player hit an all-time high of Rs 1,997 per share on June 14 after global brokerage firm CLSA reiterated its 'buy' rating and raised the target price to Rs 2,320,
#Prestige Estates Projects jumps 3% to hit a record high of Rs 1,997 today. A global brokerage firm reiterated its 'buy' rating on the stock and raised the target price to Rs 2,320.
In the last 12 months, Mumbai witnessed a 11.5% rise in luxury real estate prices, reaching the third spot globally, after Manila and Tokyo. @tweetateeq reports. https://t.co/5dZ6d19BoK
Indian real estate firms are diversifying their portfolios to include ultra-luxury projects ranging between Rs 3.5 crore and Rs 45 crore, as they capitalised on the uptick in demand for opulent apartments. @AneekaC_ #realestatemarket https://t.co/emIRIlTL4v
#Mumbai recorded the third highest year-on-year (YoY) growth in luxury housing prices in Q1 2024 followed by #Delhi at fifth position. #Bengaluru secured 17th spot Read more: https://t.co/s90WlJ5MKs
Prestige Estates aims for ₹20,000-cr valuation in hospitality biz IPO, names #JMFinancial, #JPMorgan, & #CLSA as bankers. 💼💰 Read more on it here⤵️ https://t.co/zAJufdRyEE #RealEstate #IPO #Hospitality