Prestige Estates Projects Ltd: Building Skyscrapers or Debt Towers?
1. At a Glance
India’s real estate don from Bengaluru is building homes, malls, offices—and hype. But with P/E of 159 and ROE of 3.5%, Prestige looks more like a luxury flat—lavish exterior, questionable ROI.
2. Introduction with Hook
Prestige is what you buy with EMI dreams and sell with GST nightmares. The company builds everything: homes, malls, hotels, even warehouses. But the numbers? Let’s say they’re under renovation.
₹74,241 Cr market cap
P/E: 159 (not a typo)
Net profit down 66% in FY25
3. Business Model (WTF Do They Even Do?)
Prestige isn’t just a builder—it’s a diversified realty octopus.
Residential: 150 completed projects, 127 mn sq.ft
Office: 50 mn sq.ft completed, 23 mn ongoing
Retail: 10 mn sq.ft completed, mall game strong
Hospitality: 10 hotels, 1,439 keys operating
Warehousing + Property Mgmt: Over 120 mn sq.ft maintained
Money comes from sales, leases, rentals, and “your dream home” advertisements.
