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Model Note · PRIME PROPERTY DEVELOPMENT COR · 11 September 2026Page 1 of 2
Model Note
Prepared by the reader · not a MarketPing document
PRIME PROPERTY DEVELOPMENT COR Discounted cash flow · base FY26
PRIME PROPERTY DEVELOPMENT COR
Value per share, this model₹483
CMP 2026-09-10₹25.20
Difference1814.7%
Growth the CMP implies(20.0)%/yr
This note states the assumptions and the arithmetic of one model of PRIME PROPERTY DEVELOPMENT COR, built on its filed FY26 consolidated statements. The value is the outcome of the assumptions below and nothing else; it is not a fair value, a target or a recommendation.
Assumptions
Input
This model
Filed reference
Revenue growth, 5 years
30% a year
FY26 865.8% · 5-yr CAGR —%
EBITDA margin
34.3%
FY26 34.3% · 5-yr average 25.6%
Depreciation · capex, % of revenue
0.1% · 0%, fading to 1.2× depreciation
FY26 0.1% · 0.0%
Working capital, % of added revenue · tax
15.9% · 24%
58 working-capital days · effective 24.0%
Discount rate
11.00%
1-yr beta 0.12
After FY31
5% flat · mid-year discounting
—
Net debt · non-controlling interest · non-operating investments
₹(24) · ₹0 · ₹0 cr
FY26 net debt ₹(24) cr
Shares
1.70 crore
1.70 crore today
Source: SEBI results XBRL as filed with BSE/NSE, exchange prices; the reader's assumptions.
Projected cash flow to the firm
₹ crore
FY26
FY27
FY28
FY29
FY30
FY31
Revenue
75
98
127
166
215
280
growth %
865.8
30.0
30.0
30.0
30.0
30.0
EBITDA
26
34
44
57
74
96
Depreciation
(0)
(0)
(0)
(0)
(0)
(0)
NOPAT
20
25
33
43
56
73
less capex
0
0
(0)
(0)
(0)
(0)
less working-capital build
—
(4)
(5)
(6)
(8)
(10)
Free cash flow to firm
—
22
29
37
48
62
Present value
21
24
29
33
39
Source: the model; base year as filed.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
Model Note · PRIME PROPERTY DEVELOPMENT COR · 11 September 2026Page 2 of 2
From enterprise to equity
PV of the 5 explicit years
146
PV of the terminal value (82% of EV)
649
Enterprise value
795
less net debt
24
less non-controlling interest
0
add non-operating investments
0
Equity value
819
÷ 1.70 crore shares
₹483
Source: the model.
Sensitivity, ₹ per share
WACC ↓ · terminal growth →
4.0%
4.5%
5.0%
5.5%
6.0%
10.0%
499
537
582
638
708
10.5%
459
490
528
573
628
11.0%
425
451
483
519
563
11.5%
395
418
444
475
511
12.0%
370
389
411
437
467
Source: the model; n/a where terminal growth reaches the discount rate.
Statement
This note is the reader's own model over publicly filed information: SEBI results XBRL filed with BSE and NSE and exchange price data, assembled by MarketPing software; every assumption above is the reader's. It contains no research recommendation, no price target and no opinion by MarketPing on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Historical per-share figures are on the current share count. Where a figure is unavailable the table shows a dash rather than an estimate. Nothing here constitutes investment advice, an offer or a solicitation.
Every figure is the reader's model over filed numbers · No rating, target or fair value is expressedmarketping.in
