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Prestige Estates: Medium term growth prospects hinge on capex cycle

Deal to sell commercial assets and residential recovery are near term positives

construction, real estate
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PEPL reported a year on year growth of 1 per cent in the residential segment with sales at Rs 838 crore

Ram Prasad Sahu Mumbai
Prestige Estates Projects (PEPL), the Bengaluru-based real estate developer, has seen steady gains on the bourses since the start of the month. 

This has come on the back of a strong September quarter, the deal with Blackstone Group to sell commercial assets, and a robust sales outlook supported by a strong launch pipeline for the second half. 

As part of the term sheet signed with Blackstone, it will sell stakes in some special purpose vehicles for office, retail, hotel, and facilities management properties, for an enterprise value of Rs 9,160 crore. 

If the deal goes through, PEPL will be able to repay the

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First Published: Nov 18 2020 | 7:34 PM IST

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