PRESTIGE

July 7 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - PRESTIGE FALCON MALLS BUYS 49% IN NOTTING HILL INVESTMENTS

• PRESTIGE ESTATES PROJECTS LTD - BUYS 48.99% IN AAA INVESTMENTS

• PRESTIGE ESTATES - ACQUIRED 48.99% PARTNERSHIP INTEREST IN PRESTIGE AAA INVESTMENTS

• PRESTIGE ESTATES PROJECTS LTD - PAYS 256 MILLION RUPEES TO RETIRING PARTNERS FOR AAA INVESTMENTS

• PRESTIGE ESTATES PROJECTS LTD - PRESTIGE NOTTING HILL DEAL FOR 3 BILLION RUPEES

Source text: ID:nBSEz7lH8

Further company coverage: PREG.NS

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June 30 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - LAUNCHES PRESTIGE PALLAVARAM GARDENS IN CHENNAI

• PRESTIGE ESTATES PROJECTS LTD - PROJECT HAS GROSS DEVELOPMENT VALUE OF 33.50 BILLION RUPEES

Source text: ID:nBSE4QPpb4

Further company coverage: PREG.NS

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June 27 (Reuters) - Arihant Foundations & Housing Ltd ARFL.BO:

• ARIHANT FOUNDATIONS & HOUSING LTD - PRESTIGE AND ARIHANT GROUP TO JOINTLY BUY LAND IN CHENNAI

• ARIHANT FOUNDATIONS & HOUSING LTD - DEVELOPMENT POTENTIAL OF 750,000 SQ FT WITH GDV OVER 16 BILLION RUPEES

Source text: ID:nBSE96kX0K

Further company coverage: ARFL.BO

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June 6 (Reuters) - Nukleus Office Solutions Ltd NUKL.BO:

• EXECUTED A LETTER OF INTENT WITH PRESTIGE ESTATES PROJECTS

• LETTER OF INTENT FOR LEASING NEW CO-WORKING CENTRE IN BENGALURU

Source text: ID:nBSE7byMZR

Further company coverage: NUKL.BO

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May 27 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - LAUNCHES PRESTIGE GARDENIA ESTATES IN BANGALORE

• PRESTIGE ESTATES PROJECTS LTD - PROJECT COMPRISES 516 PLOTS WITH REVENUE POTENTIAL OF 8 BILLION RUPEES

Source text: ID:nBSE6r0Hss

Further company coverage: PREG.NS

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** Real estate developer Prestige Estates' PREG.NS launch of key residential project in Indirapuram, Ghaziabad, to drive FY26 pre-sales and allay concerns over its FY25 pre-sales forecast miss, CLSA says

** CLSA reiterates "outperform", PT 1,315.8 rupees; PREG last up 3.5%

** CLSA says project, with over 100 billion rupees ($1.17 billion) sales potential, will likely be launched in coming days since co has secured regulatory approval

** Believes co can sell 60%-70% of project, marking its entry into National Capital Region market, in FY26

** Project will garner strong response given its location, scale, and mid-income positioning - CLSA

** Stock down 19.6% YTD

($1 = 85.2050 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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April 24 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE HOSPITALITY VENTURES FILES FOR IPO - DRAFT PAPERS

• PRESTIGE HOSPITALITY VENTURES FILES FOR 27 BILLION RUPEES IPO - DRAFT PAPERS

• PRESTIGE HOSPITALITY VENTURES IPO: FRESH ISSUE OF SHARES UP TO 17 BILLION RUPEES

• PRESTIGE HOSPITALITY VENTURES IPO: OFFER FOR SALE UPTO 10 BILLION RUPEES

• PRESTIGE HOSPITALITY VENTURES IPO: JM FINANCIAL, J.P. MORGAN INDIA ARE AMONG BOOK RUNNING LEAD MANAGERS

Source text: [ID:]

Further company coverage: PREG.NS

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March 28 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• APPROVES INVESTMENT IN PRESTIGE HOSPITALITY VENTURES

• INVESTMENT UP TO 16.25 BILLION RUPEES IN WHOLLY OWNED SUBSIDIARY

Source text: ID:nNSE5X3W2K

Further company coverage: PREG.NS

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March 3 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• INCOME TAX DEPARTMENT CONCLUDES SEARCH AT PRESTIGE ESTATES OFFICES

• FULLY COOPERATED WITH INCOME TAX DEPARTMENT

Source text: ID:nBSE4N6lY9

Further company coverage: PREG.NS

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** Shares of Prestige Estates Projects PREG.NS fall as much as 3.7% to 1,148.5 rupees, lowest since March 28

** The real estate developer said on Tuesday that the Income Tax department is conducting search at co's registered office and other branch offices from Feb. 25

** Co did not provide further updates regarding search

** Seventeen analysts covering the stock on average have a "buy" rating; median PT is 1,805 rupees - LSEG data

** Stock has shed ~30% so far this year

(Reporting by Ashna Teresa Britto in Bengaluru)

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Recasts; adds comments, stock move and backgrounds

By Nikunj Ohri, Shivangi Acharya and Sarita Chaganti Singh

NEW DELHI, Feb 1 (Reuters) - India slashed personal tax rates in its annual budget on Saturday, as the world's fifth largest economy focuses on boosting domestic demand amid uncertainty over the global economic outlook due to potential new tariff barriers.

The world's most populous country is expected to post its slowest growth in four years next year amid frail urban demand and weak private investment, while stubbornly high food inflation has dented disposable incomes.

The government said people earning up to 1.28 million Indian rupees ($14,800) per year will not have to pay any taxes, raising its threshold from 700,000 rupees. It also lowered tax rates for people earning above the new threshold.

"The new structure will reduce taxes on middle class and leave more money in their hands, boosting household consumption, savings and investment," Finance Minister Nirmala Sitharaman said in parliament.

The move will result in an annual 1 trillion Indian rupee ($11.6 billion) hit to Treasury revenues.

Measures to assist the poor, youth, farmers and women were also included in the budget for 2025-26, Sitharaman said.

Increasing living costs have weighed on the popularity of Prime Minister Narendra Modi, with one survey showing more Indians are becoming less hopeful about their quality of life.

Per capital income is around $2,700 for India's population of 1.4 billion, with about one-third considered middle class.

The tax cut is "likely to spur consumer demand and savings by the middle class that has faced challenges from elevated inflation and lower income growth," Sakshi Gupta, economist at HDFC Bank.

The move led to a rally in consumer stocks such as Maruti Suzuki MRTI.NS, Godrej Consumer Products GOCP.NS and Prestige Estates PREG.NS, which jumped by 4% to 8%.

To balance the revenue lost, the government has budgeted for a modest increase in capital spending this year, which will rise to 11.21 trillion rupees in 2025-26 compared to a lowered 10.18 trillion in the current year.

The modest infrastructure spending increase disappointed investors in the sector and stocks of firms including Larsen & Toubro LART.NS, NBCC NBCC.NS, IRB Infra IRBI.NS and KEC International < KECL.NS> were down between 1% and 6%.

The government expects to improve its finances, targeting a fiscal deficit of 4.4% of GDP in 2025-26, down from a revised 4.8% of GDP in the current year.

It will borrow 14.82 trillion Indian rupees via the bond markets to fund this year's fiscal deficit.

The government, however, refrained from pre-empting the impact of potential tariffs from U.S. President Donald Trump on India and focussed on lowering some input costs for industries that have been raising output such as electronics and

renewables.

FOCUS ON FARM, MANUFACTURING AND FINANCIAL SECTOR

India has faced a bout of high food inflation over the past year due to weather changes impacting output.

To boost productivity across the farm sector, the government will launch a national mission to push high-yielding crops, with a special focus on pulses and cotton production.

To help farmers, the limit for subsidised credit has been raised to 500,000 Indian rupees ($5,778) from 300,000 rupees earlier.

The government will also launch missions to push manufacturing and exports, Sitharaman said, without going into details.

India has long aimed to boost the share of manufacturing and exports in its economy but has had little success. The share of manufacturing in the economy has remained close to 17%, short of its long-standing goal of 25%.

To deepen the penetration of insurance in the economy, the foreign direct investment limit on insurance was raised to 100% from 74% currently.

($1 = 86.5360 Indian rupees)

(Reporting by Shivangi Acharya and Nikunj Ohri in New Delhi; Writing by Ira Dugal and Aftab Ahmed; Editing by Lincoln Feast)

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Jan 30 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS Q3 CONSOL NET PROFIT 177 MILLION RUPEES

• PRESTIGE ESTATES PROJECTS Q3 CONSOL REVENUE FROM OPERATIONS 16.55 BILLION RUPEES

Source text: [ID:]

Further company coverage: PREG.NS

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** Shares of NITCO Ltd NCOT.NS rise as much as 3.9% to 146 rupees

** Tilemaker secures order valued at 1.05 bln rupees ($12.4 mln) from Prestige Estates Projects PREG.NS

** Says it also anticipates receiving orders worth 1.04 bln rupees from PREG in near future

** Stock on track to gain for the third straight day

** More than 131,000 shares traded as of 9:39 a.m. IST vs their 30-day moving avg of 180,641 shares

** NCOT last up 2.5%, adding to YTD gains of 354%

($1 = 84.9010 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Dec 16 (Reuters) - Nitco Ltd NCOT.NS:

• GOT ORDER WORTH 1.05 BILLION RUPEES

• ANTICIPATES RECEIVING ORDERS WORTH 1.04 BILLION RUPEES FROM PRESTIGE ESTATES

Source text: [ID:]

Further company coverage: NCOT.NS

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** Apartment launch pipelines by Indian homebuilders are strong for second half of ongoing fiscal year, says brokerage Nuvama

** Brokerage's top picks are Bengaluru-focussed developers Brigade Enterprises BRIG.NS and Prestige Estates Projects PREG.NS

** On the day BRIG up 2.1%, PREG rises 1.8%

** New launches should lead to ramp up in bookings amid low inventory levels and two straight quarters of weakness (Q1 and Q2) - Nuvama

** October launches "decent" across geographies - Nuvama

** Developers have ramped up land capex Y/Y in FY25, utilizing "virtually entire operating cash flows" while debt remained comfortable, which bodes well for growth in next 6-8 quarters, says brokerage

** YTD, shares of BRIG up 38.6% and PREG up 41.2% compared to 31.6% gain in the Nifty Realty Index .NIFTYREAL

(Reporting by Hritam Mukherjee and Ananta Agarwal in Bengaluru)

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** Shares of property developer Prestige Estates Projects PREG.NS fall as much as 5.1% to 1,620 rupees

** Morgan Stanley downgrades stock to "underweight" from "overweight", cuts TP to 1,510 rupees from 1,770 rupees

** New TP is at a discount of 11.5% to stock's last close at 1,706.15 rupees

** Reduce our FY25 pre-sales growth estimate to +9% Y/Y from 28% since co achieved only 29% of its FY25 target in 1HFY25 - brokerage

** Adds, PREG's last twelve month avg. pre-sales growth is weakest among peers (-2% Y/Y, -15% Q/Q)

** PREG's 2HFY25 launch pipeline of 5.21 bln rupees ($61.7 mln) is strong, however uncertainty over approval remains - Morgan Stanley

** Avg rating of 16 analysts equivalent of "buy", median PT is 2,020 rupees - LSEG data

** Stock last down 4.2%, trimming YTD gains to 38.6%

($1 = 84.4630 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

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Nov 14 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• ACQUIRES 22,135 SQ. METERS LAND IN MIRA BHAYANDAR MUNICIPAL CORPORATION, MUMBAI

• COST OF ACQUISITION IS AROUND 2.92 BILLION RUPEES

Source text: ID:nBSE3HprWN

Further company coverage: PREG.NS

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** Shares of India's Prestige Estates Projects PREG.NS fall ~2% at the open, extends losses to third straight session

** Property developer's Q2 revenue growth slows as approval delays weigh on new launches

** The Nifty Realty index .NIFTYREAL, which co is a part of, sheds 0.3% in early trade

** Stock has gained 36% YTD vs NIFTYREAL's ~28% rise

(Reporting by Hritam Mukherjee in Bengaluru)

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Oct 29 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• Q2 CONSOL NET PROFIT 1.92 BILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 23.04 BILLION RUPEES

Source text: [ID:]

Further company coverage: PREG.NS

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Oct 28 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES - ACQUIRES LAND IN BENGALURU TO DEVELOP RESIDENTIAL PROJECT

• PRESTIGE ESTATES - ACQUIRES LAND IN BENGALURU TO DEVELOP RESIDENTIAL PROJECT FOR 4.62 BILLION RUPEES

Source text: [ID:]

Further company coverage: PREG.NS

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** Shares of Prestige Estates Projects PREG.NS climb as much as 6.9% to 1,845 rupees; last up 5.4%

** The real estate firm approved a qualified institutional placement (QIP) to raise funds at a floor price of 1,755.09 rupees apiece

** Floor price at 1.7% premium on last close

** Co to raise 50 bln rupees (about $596 mln) via QIP, it said in June

** Stock eyes busiest trading session since late-Feb., volumes at 3.2x the 30-day avg

** Analysts' avg rating on stock is "Buy", median PT is 1,940 rupees, per LSEG data

** At current price, stock is up 8.6% this week, after nearly 8% loss last week

($1 = 83.8620 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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July 31 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES JUNE-QUARTER CONSOL NET PROFIT 2.33 BILLION RUPEES

• PRESTIGE ESTATES JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 18.62 BILLION RUPEES

Further company coverage: PREG.NS

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July 11 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• SALES COLLECTIONS FOR QUARTER UP BY 6% Y/Y

• Q1 SALES AT 30.3 BILLION RUPEES VERSUS 39.15 BILLION RUPEES YEAR AGO

Source text for Eikon: [ID:]

Further company coverage: PREG.NS

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** Shares of India's Prestige Estates Projects PREG.NS rose as much as 4.6% to hit record high, last up 3.9%

** Co top pct. gainer on the Nifty Realty index .NIFTYREAL, which is up 0.3%

** PREG's board approved roughly $600 mln fundraise by issuing shares to institutional investors late on Friday

** Trading vols. 1.3x 30-day avg.

** Including session's gains, YTD stock had risen 75%, outperforming a 45% rise in NIFTYREAL

(Reporting by Hritam Mukherjee in Bengaluru)

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Adds analyst comment in paragraph 3

By Hritam Mukherjee

BENGALURU, June 21 (Reuters) - Prestige Estates Projects PREG.NS said on Friday it will raise 50 billion rupees ($598.6 million) by issuing shares to institutional investors.

The Indian real estate developer added its board has approved the monetization of its hospitality assets through a share issue and has formed a sub-committee to oversee the process.

"The monetizing bid largely means that Prestige will seek greater value for its hospitality business and will likely go for an initial public offering," said Karan Khanna, a research analyst at Ambit Capital.

The Bengaluru-based firm has been working on hiving off and listing its hospitality business, which operates 10 hotels in Bengaluru and Kochi, including JW Marriott and Sheraton Grand.

Prestige Estates had flagged the need to raise capital in May.

Sustained travel demand and successful listings of hotel firms, such as Samhi Hotels SAMH.NS and Juniper Hotels JUNI.NS, have inspired investor confidence in the sector, with consumer giant ITC ITC.NS also looking to carve out its hotel business.

Prestige Estates tapped JM Financial, JP Morgan and CLSA as bankers for the listing of its hospitality business, local broadcaster CNBC TV18 had reported earlier this month.

The company's shares closed 1.5% lower on Friday.

($1 = 83.5240 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Shreya Biswas)

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June 18 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - TO CONSIDER AND APPROVE RAISING OF FUNDS

Source text for Eikon: ID:nBSEwf6ml

Further company coverage: PREG.NS

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** Shares of Prestige Estates Projects PREG.NS up 2.4% to a record high of 1,891.75 rupees

** The real estate co is expecting a valuation of 170 bln rupees ($2.04 bln) to 200 bln rupees for the IPO of its hotel business, CNBC-TV18 reported, citing sources

** PREG is seeking to raise close to 20 bln rupees to 30 bln rupees through its IPO of the hotel business, the report added

** The company did not confirm or deny the report on a Reuters' request for comment

** Stock is among top percentage gainers on the Nifty realty index .NIFTYREAL, which is up 2%

** Analysts' avg rating on stock is "Buy", in line with rating on peer Brigade Enterprises BRIG.NS, while DLF is rated "Hold", per LSEG data

** Including session's gains, stock is up 60% YTD vs ~43% rise in NIFTYREAL

($1 = 83.5341 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** Shares of Prestige Estate Projects PREG.NS up around 4% to 1600 rupees

** PREG is the second biggest gainer on Nifty Realty Index .NIFTYREAL, which is up around 2%

** Morgan Stanley raises PT by 26% to 1770 rupees, implying upside potential of 15%

** PT raise on strong FY25 pre-sales outlook driven by launch pipeline and ready inventory

** FY25 residential launch pipeline of 5.67 bln rupees, plus 1.20 bln rupees of unsold inventory should help PREG post record sales booking of 2.70 bln rupees in the current fisca l- Morgan Stanley

** Avg rating of 16 analyst covering PREG is "Buy," their median PT is 1,365 rupees - LSEG data

** PREG up 36% YTD vs a 30% rise in Nifty Realty Index .NIFTYREAL

(Reporitng by Nishit Navin)

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** Shares of India's Prestige Estates Projects PREG.NS down 2.8%, reversing early gains

** PREG among top losers on Nifty Realty index .NIFTYREAL, which is down 0.8%

** Bengaluru-focussed developer's Q4 net profit slumps 70%, rev dipped on weak overall housing sales in the city

** Stock set to drop for fourth straight session

** YTD, stock had risen over 28%, in-line with realty gauge

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Prestige Estates Projects PREG.NS rose as much as 3.5% before trimming some gains, last up 0.4% to 1,309 rupees

** Real estate developer says it acquired land in Bengaluru for 4.5 bln rupees ($54 mln); says gross development value is 45 bln rupees

** Nifty Realty index .NIFTYREAL jumped to session high after RBI kept key lending rates unchanged; PREG's session high was before the RBI announcement

** Mahindra Lifespace MALD.NS top pct gainer on realty index

** Seven out of 10 stocks on realty index, including PREG, rated "buy" or higher on avg, rest rated "hold" - LSEG data

($1 = 83.4050 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

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