Prestige Estates Shares Rise Amid GST Show Cause Notice to Subsidiary

Nowadays, the shares of Prestige Estates are in the news because on October 06, 2025, the subsidiary, i.e., Prestige Mulund Realty Private Limited, received a show cause notice issued by the Directorate General of GST Intelligence, Mumbai, under the Central Goods and Services Tax Act, 2017, read with the Maharashtra Goods and Services Tax Act, 2017, and the Integrated Goods and Services Tax Act, 2017.

The notice alleged the company for non-payment/short-payment of goods and services tax. As per the SCN, the company has been provided with the time limit of 30 days to show cause why the GST amounting to Rs. 153.60 crore, in addition to the equivalent amount of penalty and applicable interest, should not be imposed on them under provisions of Section 74(1) of the CGST Act, 2017, read with other applicable provisions of the Act. The company has been asked to explain the reason before the Additional/Joint Commissioner, CGST and Central Excise Mumbai East Commissionerate.

On Monday, Prestige Estates shares increased by 0.63% to close at Rs. 1,542.30, up from Rs. 1,532.60 on the previous day on the BSE. Around 10,000 shares were traded, with a total value of Rs. 1.60 crore. The company’s market value increased to Rs. 66,431 crore on the BSE.

Prestige Estates shares are quite volatile, with a one-year beta of 1.4, meaning they move more sharply than the market. Looking at technical indicators, its Relative Strength Index (RSI) is 44.5, which shows the stock is trading in a normal range, not too high (overbought) or too low (oversold).

Prestige Estates is one of the top real estate companies in India.