Shares of Prestige Estates Projects Limited were trading in positive territory on the NSE Friday afternoon, buoyed by the company’s announcement of a new joint venture project in Mumbai’s Versova locality.
At around 12 pm, the stock was at ₹1,329.40, up ₹10.00 or 0.76 per cent from Thursday’s close of ₹1,319.40. The stock opened at ₹1,329.10 and touched an intraday high of ₹1,353.50, while finding support near ₹1,320.10. Buy orders had a slight edge, with 50.53 per cent of total traded quantity on the buy side. Traded volume stood at 15.74 lakh shares worth ₹210.68 crore by midday. Total market capitalisation was at ₹57,226.82 crore.
The trigger for the day’s movement was the announcement that Prestige had entered a joint venture with ABIL Group to develop a roughly 6-acre land parcel in Aram Nagar, Versova, Mumbai. The project is to be executed through Aaramnagar Realty LLP, with a total development potential of approximately 1.7 million square feet under RERA and an estimated Gross Development Value exceeding ₹9,000 crore. The development is planned as a premium residential project targeting demand in Mumbai’s western suburbs.
On a broader timeframe, the stock has outperformed its benchmark considerably. It has returned 15.33 per cent over the past week against the Nifty Midcap 50’s 7.34 per cent, and 23.08 per cent over one year versus 16.81 per cent for the index. However, year-to-date it remains under pressure, down 17.17 per cent compared to the index’s 5.49 per cent decline. The 52-week range spans ₹1,063 to ₹1,814. The stock trades at a price-to-earnings ratio of 54.08 and carries an annualised volatility of 44.90 per cent. Deliverable trades accounted for 65.50 per cent of total volume.
Published on April 10, 2026