Prestige Estates slips on profit booking
Mar 08, 2014
Source : Business Standard

 

DELHI: Prestige Estates Projects fell 2.60% to Rs 159.10 at 10:40 IST on BSE on profit booking after the stock surged 23.66% in the preceding four trading sessions to Rs 163.35 on 6 March 2014, from a recent low of Rs 132.10 on 28 February 2014.

Meanwhile, the BSE Sensex was up 198.05 points, or 0.92%, to 21,711.92.

On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 13,490 shares in the past one quarter.

The stock hit a high of Rs 165 and a low of Rs 158.60 so far during the day. The stock hit a 52-week high of Rs 192.35 on 17 May 2013. The stock hit a 52-week low of Rs 105.10 on 28 August 2013.

The stock had outperformed the market over the past one month till 6 March 2014, rising 19.54% compared with the Sensex's 5.92% rise. The scrip had also outperformed the market in past one quarter, rising 6.80% as against Sensex's 2.46% rise.

The mid-cap company has an equity capital of Rs 350 crore. Face value per share is Rs 10.

Net profit of Prestige Estates Projects declined 12.49% to Rs 80.55 crore on 11.92% decline in net sales to Rs 429.54 crore in Q3 December 2013 over Q3 December 2012.

Prestige Estates Projects is one of the leading real estate development companies operating in the southern part of the country and more specifically in Bangalore.

 

Latest Realty News

Devesh Kapur and Arvind Subramanian: A property tax proposal
Mar 08, 2014
DELHI: In our last piece, we had argued that taxation is the economic glue that binds citizens to the state in a necessary two-way relationship ("Taxation's fatal neglect?", January 20). A citizen's stake in exercising accountability diminishes if he does not pay in a visible and direct way - typically via direct taxes or user fees - for the services the state provides. We estimated that a very small percentage of Indians (about 10 per cent) are in this taxpayer accountability relationship with
DLF again under competition watchdog's lens
Mar 08, 2014
MUMBAI: Real estate major DLF is once again being investigated by the Competition Commission of India (CCI) for allegedly misusing its dominant position in the market by drafting a one-sided agreement with the buyers of flats in its New Town Heights project in Gurgaon.
Bank licences on course despite polls
Mar 07, 2014
DELHI: Finance Minister P Chidambaram on Wednesday clarified the Reserve Bank of India (RBI) was likely to issue a few bank licences during the remaining term of the incumbent United Progressive Alliance (UPA) government, notwithstanding the model code of conduct that kicked in with announcement of the election schedule.
NPAs rise as slowdown persists
Mar 07, 2014
DELHI: The economic slowdown seems to have helped push the gross non-performing assets (NPAs), or doubtful loans, of public sector banks (PSBs) to 5.17 per cent of their advances by end-December 2013, against 4.18 per cent a year before.
Bad loans expected to be higher this fiscal: FM
Mar 07, 2014
DELHI: Finance Minister P. Chidambaram Wednesday said the Non-Performing Assets (NPAs) or bad loans of the public sector banks are expected to be higher this fiscal, which is a matter of big concern.
Onus on government to protect, boost real estate
Mar 07, 2014
DELHI: Presently, the real estate sector in India is facing several challenges. These include lack of adequate sources of finance, shortage of labour, steep rise in the prices of raw material, multiple tax system and lengthy and delayed procedures for approvals.
Tata Value Home’s National Home Buying Day oversubscribed four times
Mar 07, 2014
DELHI: Tata Value Homes Limited, a 100 per cent subsidiary of Tata Housing Development Company, India’s fastest growing real estate company’s maiden National Home Buying Day was oversubscribed 4 times with over 800 applications for the allocated 200 units across 5 projects.Impressively, Tata Value homes received over 200 applications on the first day of National Home Buying Day with 3, 00,000 hits on the website during the four days.
NCR: Industrial townships along NH-8
Mar 07, 2014
DELHI: Dharuhera comes with freehold property rights, as it is a part of Haryana. The town is surrounded by multinational industrial townships like Manesar, Bawal, Rewari, Chaupanki, Neemrana, Khushkhera, etc.
Greater Noida West can cope with housing demand
Mar 07, 2014
DELHI: Greater Noida West has a huge potential as in the next five years, this developing area will be in a position to deliver nearly 5 lakh housing units, catering to a population of nearly 10 lakh people.
Fancy things that your real estate agent might tell you
Mar 07, 2014
DELHI: When investing in a real estate property, a real estate agent might prove to be a really valuable asset. However, if you don't keep your eyes and ears open, you might end up ruining your investment. Ankit is a regular investor in the real estate industry and has been buying properties for some time now.

Latest Realty News Of State

Realty Talk's