Prestige Estates Projects declines on profit booking

Meanwhile, the BSE Sensex was up 65.74 points, or 0.32%, to 20,351.86.

On BSE, 3,894 shares were traded in the counter as against an average daily volume of 17,567 shares in the past one quarter.

The stock hit a high of Rs 186 and a low of Rs 178 so far during the day. The stock had hit a 52-week high of Rs 194.90 on 7 February 2013. The stock had hit a 52-week low of Rs 96.25 on 24 July 2012.

The stock had outperformed the market over the past one month till 17 May 2013, rising 12.39% compared with the Sensex's 8.30% rise. The scrip had, however, underperformed the market in past one quarter, rising 3.18% as against Sensex's 4.20% rise.

The mid-cap company has an equity capital of Rs 350 crore. Face value per share is Rs 10.

Prestige Estates Projects' net profit surged 227.9% to Rs 92.05 crore on 195.6% rise in net sales to Rs 487.67 crore in Q3 December 2012 over Q3 December 2011. The company will declare its year ended March 2013 results on Tuesday, 21 May 2013.

Prestige Estates Projects is one of the leading real estate development companies operating in the southern part of the country and more specifically in Bangalore.

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