PrestigeEstatesNSERealEstateIPOPreSales
Prestige Estates Pulls ₹2,700 Cr IPO, Projects FY27 Pre‑Sales ₹35‑36 Cr
Published: September 28, 2026
Prestige Estates Projects Ltd. abandoned its ₹2,700 cr IPO, while Morgan Stanley maintains a FY27 pre‑sales target of ₹35‑36 cr, a 15‑20% YoY bump. Shares slipped 0.02% to ₹1,474.70 on the NSE, keeping the overweight rating intact.
Shares of Prestige Estates Projects Ltd. (PESH) slid 0.02% to ₹1,474.70 on the NSE, reflecting investor sentiment after earlier corporate updates.
The board’s decision to pull the ₹2,700 cr IPO draft came after a review of market conditions, as disclosed in the company’s Sept 25 filing.
Morgan Stanley kept its FY27 pre‑sales target at ₹35‑36 cr, a 15‑20% jump over FY26, while citing a ₹60 cr launch pipeline.
Only ₹15 cr of projects launched in FY26’s first half, with the remainder slated for Q3‑Q4, supporting the pipeline.
Operating cash flow is forecast at ₹8.5‑9 cr, up 20‑25% YoY, and net debt‑to‑equity is 0.69, expected to ease with rising rental income and hotel monetisation.
CPP Investment Board remains ready to invest up to ₹3 cr in PHVL, and a fresh IPO could materialise if market conditions improve.