Prestige Estates Projects Ltd saw its shares rallying 7 per cent in Thursday's trade after the realtor recorded sales of Rs 6,017.30 crore in Q2, marking a 50 per cent year-on-year growth, driven by robust demand across markets and segments. Sales volume for the quarter stood at 4.42 million square feet, up 47 per cent year-on-year, translating to 2,069 units sold. Advertisement

Nuvama in a note on Prestige Estates Projects said Bengaluru can still deliver volume growth, even as concerns remain around other markets. Data showed Bengaluru accounted for 40 per cent of Prestige's sales mix in Q2 and 27 per cent in H1. NCR accounted for 18 per cent of Q2 sales mix, but 45 per cent of H1 sales mix.

Nuvama maintained ‘Buy’ on the stock with a revised target of Rs 1,966 compared with Rs 2,009

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