Prestige Estates Project climbs 2%; arm to buy stake in Exora Business Park

The business park has been completely developed and leased toreputed MNC’s like JPMorgan, Juniper Networks, LinkedIn, PriceWaterhouse Coopers, Schneider Electric and Bosch.

Prestige Estates Projects climbed 2% to Rs.198.55 on BSE. The company will buy back joint venture partner Red Fort Capital's over 60 per cent stake in business park Exora. The business park has been completely developed and leased toreputed MNC’s like JPMorgan, Juniper Networks, LinkedIn, PriceWaterhouse Coopers, Schneider Electric and Bosch. The transaction will result in one of the largest exits in real estate private equity space.

The scrip opened at Rs. 199.1 and has touched a high and low of Rs. 203 and Rs. 197 respectively. So far 131000(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7301.25 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 323.7 on 29-Jan-2015 and a 52 week low of Rs. 181 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 202.25 and Rs. 193.2 respectively.

The promoters holding in the company stood at 70 % while Institutions and Non-Institutions held 25.66 % and 4.34 % respectively.

The stock is currently trading above its 200 DMA.