Prestige Estates Projects: Losing ground - Sell
The run-up in the stock does not reflect the reality
The stock of real estate player, Prestige Estates Projects, has run up 30 per cent since our ‘hold’ recommendation last July. Then, the valuation was reasonable, in line with its historical averages, despite the company missing its sales targets. The company was also a good bet on the Bengaluru market. However, its sales volumes in both the mid-income and premium categories of the residential mark...
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