Prestige Estates receives favourable review from BoAML
Prestige Estates has received a favourable review from Bank of America Merrill Lynch. The investment bank has initiated a coverage on Bangalore-based real estate firm Prestige Estates Projects with a “Buy” rating and estimated an upside potential of 38 per cent from current levels.
BoAML also estimated that Bangalore real estate sector growth would remain slow but steady over the next 12 months with flat residential volume for the second year in a row. Office demand-supply ratio is estimated to be favourable.
Prestige Estates is better placed in the review than its regional competitor Sobha Developers to capitalize the limited growth opportunities available. Prestige’s presence across segments (from affordable to luxury) is cited as an advantage.
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Bangalore, Bangalore Real Estate, Bangalore real estate sector, Bangalore-based realty firm, Bank of America Merrill Lynch, Bank of America Merrill Lynch(BoAML), Office demand-supply, Prestige Estates, Prestige Estates Projects, Prestige Estates Projects Ltd, Sobha Developers
[...] Prestige Estates receives favourable review from BoAML [...]