Prestige Estates Projects - 3QFY14—big launch helps maintain sales volume - Kotak

Prestige's 3QFY14 sales stood at 1.6 mn sq. ft for Rs. 9.4 bn. Prestige has achieved 80% of the FY2014 guidance of Rs. 43 bn of sales and collections of Rs. 23 bn. We expect the collections order book from sales to grow to Rs. 55 bn at end-3QFY14E, and expect it to increase to Rs. 7 bn/quarter in FY2015E. With a high base in Bangalore, we await management plans to further increase volumes through expansions elsewhere; maintain BUY with a target price of Rs. 200.

Source : Equity Bulls

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