Title :- Relationship of Prestige Estates Projects limited with NIFTY 50
AUTHOR: Prashant Narayan Khilari ( MMS First Year, Roll no. 0222091) Kohinoor Business School, Kurla.
INTRODUCTION: Prestige Estates Projects Limited is a prominent real estate development company based in India. Established in 1986, the company has played a significant role in shaping the real estate landscape of the country. Prestige Estates Projects Limited is known for its focus on high-quality construction, innovative design, and delivering exceptional customer experiences Prestige Estates Projects Limited is a listed public company incorporated on 04 June, 1997. It is classified as a public limited company and is located in Bangalore, Karnataka. It’s authorized share capital is INR 450.00 cr and the total paid-up capital is INR 400.86 cr.
OBJECTIVES: To calculate Beta of Prestige Estates Projects limited and find out its Significance.
VIEWS AND REVIEWS:
Irfan razack (Managing Director) :
We Always have to look for what can be done next. Keeping that in mind I am doing two of the biggest office developments in Mumbai that will be another defining moment in the career of prestige.
zayd noaman (Executive Director) :
Its not just about growing bigger its all about how you can become better and better. Something that has made him so successful is his ability to create value.
DATA COLLECTION:
Data from the 1ST July 2022 to the 30TH June 2023 has been downloaded from nseindia.com. From the downloaded data closing price of all Fridays were sorted to find weekly returns of Prestige Estates Projects limited and NIFTY 50. Weekly return of Prestige Estates Projects limited was taken as Y and Weekly returns of NIFTY 50 was taken as X.
DATA ANALYSIS:
Y^ = 0.42204 + 1.18497X
(2.8629)
N = 50
R square = 0.1459
F = 8.1962
The above equation shows the relationship between Nifty 50 (X) and of Prestige Estates Projects limited (Y). The positive sign means positive relationship meaning if X rises Y also rises and vice versa. If Nifty 50 (X) rises by 1 unit of Prestige Estates Projects limited (Y) rise by 1.18497 unit. N means there are 50 observation. T stat for b is 2.8629, is more than tabulated t (t.05,48df = 2.01063) therefore t stat for b is statistically significant @5% level. R square is 0.1459 which means 14.5% of Y is explained by X balance 85.5% is error due to variables which are not in model. F is 8.1962 which is more than table value (F.05,1df,48df = 4.04265) so overall the model is statistically significant at 5% level.
COCLUSION:
As, Beta (b) is more than 1, which implies of Prestige Estates Projects limited is good for short term investment.
