CMP: 160

Prestige Estates Projects Ltd. develops real estate. The Company builds residential projects including apartments, villas, plotted developments and integrated townships, commercial projects including corporate office buildings and technology parks, hotels and resorts, and retail buildings.

Prestige Estates is a decent bet in Realty space trading at a P/E of 32 with dividend yields of nearly 1% in the last 12 months. It runs at a debt of 1,117 Crores with 1,200 Crores in inventory and 82 Crores in cash. Revenues have dropped from 949 Crores to 745 Crores in the last 2 years. Profits have dropped from 142 Crores to 129 Crores in the last 2 years. Profit margins have improved from 15% to 17% over the last 2 years. Last 2 quarters have bounced back nicely with good surge in revenues and profits.