Tuesday , October 26 2021

Prestige Estates surges on planning to invest about Rs 350 crore to develop commercial project

Prestige Estates is currently trading at Rs. 308.35, up by 7.65 points or 2.54% from its previous closing of Rs. 300.70 on the BSE.

The scrip opened at Rs. 310.80 and has touched a high and low of Rs. 313.80 and Rs. 307.05 respectively. So far 1983 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 317.05 on 13-Sep-2019 and a 52 week low of Rs. 163.75 on 11-Oct-2018.

Last one week high and low of the scrip stood at Rs. 313.80 and Rs. 273.30 respectively. The current market cap of the company is Rs. 11563.13 crore.

The promoters holding in the company stood at 70.00%, while Institutions and Non-Institutions held 28.92% and 1.08% respectively.

Prestige Estates Projects is planning to invest about Rs 350 crore to develop a commercial project in Pune. The project will be developed in joint venture with a local firm. The company is developing a one million sq ft office complex in Pune. This will be company’s first project in this city. The project is expected to be completed in the next three years.

Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.

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