Multibagger realty stock turns weak in short term; price targets for 2025 and more 

Shares of multibagger realty firm Prestige Estates Projects Ltd have slowed down in the short term. The stock is down 9.5% in six months and lost 6.29% in the last two weeks. However, the stock has clocked multibagger returns in the long term. The realty stock rose 270.31% in two years and gained 46.17% in a year. In the current session, Prestige Estates stock slipped 4% to Rs 1681.25 on BSE. The realty stock scaled a record high of Rs 2,072.75 on June 24, 2024 and fell to a 52 week low of Rs 967.10 on March 19, 2024.

In Monday's trade, Prestige Estates Projects stock saw high volatility. Market cap of the firm fell to Rs 72,509 crore. Total 7181 shares of the firm changed hands amounting to a turnover of Rs 1.23 crore on BSE.

Prestige Estates shares have a one-year beta of 1.3, indicating very high volatility during the period. In terms of technicals, the relative strength index (RSI) of Prestige Estates stands at 50.5, signaling it's trading neither in the overbought nor in the overtrading zone.

Prestige Estates shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Axis Securities has a price target of Rs 2195 in 2025 for the realty stock.

"The company has a planned launch trajectory for the upcoming quarters and is confident in achieving its guidance of launching the remaining Rs 51,000 Cr worth of Gross Development Value (GDV). These planned launches, along with increasing annuity avenues, will result in a strong cash position
for the company. We recommend a buy on the stock with a target price of Rs 2,195/share," said the brokerage.

Antique Broking has a price target of Rs 2,311 on the Prestige Estates stock.

"With absorption in real estate remaining strong across markets, we expect Prestige Estates to receive strong response to all of these launched projects and to clock over Rs 10,000 crore from these projects alone in 3QFY25. In 4QFY25, Prestige Estates has a launch pipeline with a GDV of Rs 24,000 crore of which Rs 9,400 crore is from Bengaluru. We expect most of Prestige Estates' launches to materialize, including those in Bengaluru, and easily surpass sales booking of Rs 25,000 crore in FY25," said the brokerage.

Net profit of the realty firm slipped 74% to Rs 234.6 crore in Q2 against Rs 910.3 crore in the corresponding quarter of the previous fiscal. However, EBITDA climbed 7% to Rs 631.3 crore in the second quarter against Rs 592.5 crore in the corresponding quarter.

Revenue rose 3% to Rs 2,304.40 crore in Q2 against Rs 2,236.4 crore in the second quarter of the previous fiscal.

Prestige Estates is one of the leading real estate developers in the country with its head office in Bengaluru.