Prestige Estates shares surged nearly 6% intraday on Thursday after the company reported robust sales for the second quarter (Q2) in an operational business update. 

The real estate company reported a 50% year-on-year jump in Q2 sales bookings to ₹6,017 crore. Its total H1FY26 sales soared 157% year-on-year to ₹18,144 crore, and exceeded the full-year FY25 sales in just six months.

Housing demand across markets drove this strong performance for Prestige, especially Bengaluru, which alone contributed 40% of Q2 sales volume. 

Q2 sales volume stood at 4.42 million square feet, with increased realizations for apartments and plots. Collections also rose sharply, up 54% YoY in Q2 and H1. 

In the second quarter, Prestige Estates launched 3.87 million sq ft, contributing to a total of 18.81 million sq ft in the first half. Office leasing reached 2.3 million sq ft in Q2, while retail turnover saw a 9% year-over-year increase, reaching ₹6,236 million.

Technical Outlook

SEBI-registered analyst Prabhat Mittal noted the formation of an inverse head and shoulder pattern on its charts, which is a bullish pattern. On the downside, Prestige Estates stock is taking support around ₹1,490, which is seen as a crucial level of support. 

Mittal said that the stock was currently trading above the 200-day moving average (DMA) and had crossed the 20-DMA, which is also considered a positive signal. 

He advised traders to buy Prestige Estates at the current price of ₹1,563, with a strict stop-loss below ₹1,460, for a target price of ₹1,750 and ₹1,800.

What Is The Retail Mood?

Data on Stocktwits indicates that retail sentiment shifted to 'bullish' following the strong quarterly update. It was 'neutral' last week. 

Prestige Estate shares have declined 8% year-to-date (YTD). 

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