This multibagger realty company enters into joint venture agreement with W.S. Industries (India) Limited!

The stock is up by 50 per cent in 1 year and gave multibagger returns of over 110 per cent in the span of 2 years

Prestige Estates Projects Ltd informed that the company and its wholly owned subsidiary Prestige Exora Business Parks Limited have entered into a joint venture agreement with W.S. Industries (India) Limited for the development of IT/IT enabled services/parks in 6.53 acres of immovable property at No.108, Mount Poonamallee Road, Porur, Chennai – 600 116.

W.S. Industries (India) Limited proposes to implement the project through its subsidiary company WS Insulators Private Limited. The consummation of the agreement is subject to the completion of technical and legal due diligence, satisfaction of conditions precedent and receipt of all necessary approvals.

Prestige Estates Projects is in the business of real estate development encompassing the development and construction of properties and leasing of office and retail properties. The company has a market cap of over Rs 23,000 crore and reported positive numbers in its Quarterly Results and annual results.

On Friday, shares of Prestige Estates Projects surged 2.92 per cent to Rs 591.95 per share with an intraday high of Rs 597.40 and an intraday low of Rs 580.40.

The stock is up by 50 per cent in 1 year and gave multibagger returns of over 110 per cent in the span of 2 years. Investors should keep this realty stock under the radar.