Prestige Estates Projects Ltd

NSEI:PRESTIGE

印度 / 地產 / 房地產管理及開發

綜觀

股息

5 年 DCF 收入退出價

股價

1,184.40 INR

公允價值

806.33 INR

Metrics	Range	Conclusion
Discount Rate	9.8% - 8.8%	9.3%
Terminal Revenue Multiple	3.3x - 3.7x	3.5x
Fair Value	₹736.74 - ₹878.25	₹806.33
Upside	-38.9% - -27.2%	-33.1%

18.0%

Revenue 5y CAGR

31.9%

5y Avg EBITDA Margin

Unlevered FCF 5y CAGR

5-Year DCF Model: Revenue Exit

股價

1,184.40 INR

公允價值

806.33 INR

看漲

-33.1%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(INR in millions)		Input Projections
Fiscal Years Ending	Mar-24	Mar-25	Mar-26	Mar-27	Mar-28	Mar-29

Revenue	78,771	101,543	123,398	149,268	167,927	180,521
% Growth	-5.3%	28.9%	21.5%	21.0%	12.5%	7.5%

EBITDA	21,549	29,095	37,420	46,927	56,992	63,071
% of Revenue	27.4%	28.7%	30.3%	31.4%	33.9%	34.9%

支援算式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
(INR in millions)		Mar-25	Mar-26	Mar-27	Mar-28	Mar-29

EBITDA		29,095	37,420	46,927	56,992	63,071
Other Income / (Exp)		0	0	0	0	0
D&A		(5,618)	(8,516)	(10,606)	(11,932)	(12,827)

EBIT		23,477	28,904	36,322	45,060	50,245
Pro forma Taxes		(5,400)	(6,648)	(8,354)	(10,364)	(11,556)
NOPAT	13,891	18,078	22,256	27,968	34,696	38,688

Capital Expenditures	(19,067)	(31,883)	(37,497)	(33,900)	(34,427)	(35,275)
NWC Investment	1,439	(7,484)	(7,183)	(8,502)	(6,132)	(4,139)
(+) D&A	3,509	5,618	8,516	10,606	11,932	12,827

Free Cash Flow	(228)	(15,672)	(13,908)	(3,828)	6,069	12,101
% Growth		NM	NM	NM	NM	99%

載入錯誤

Prestige Estates Projects Ltd

NSEI:PRESTIGE

印度 / 地產 / 房地產管理及開發

5 年 DCF 收入退出價