Axis Securities sees over 30% upside potential in this real estate stock, initiates coverage

Axis Securities highlighted Prestige Estates' strong financial performance and diversified business model. With record pre-sales and collections in FY24, Prestige eyes significant free cash flows from ongoing and upcoming projects. The company's projected launch for FY25 is expected to bring Rs 59,000 crore in revenue, maintaining a debt-to-equity ratio of 0.66.