Buy Brigade Enterprises; target of Rs 195: Motilal Oswal
Motilal Oswal is bullish on Brigade Enterprises has recommended buy rating on the stock with a target price of Rs 195 in its research report dated June 19, 2020.
June 22, 2020 / 07:52 AM IST
Motilal Oswal 's research report on Brigade Enterprises
BRGD has shown continued strength in delivering strong pre-sales volumes of ~1msf in the Residential segment, even in these testing times, as well as in its Leasing portfolio. This makes the company one of the favored plays in the Real Estate space. Leasing remains the cornerstone of the business in the near to long term, while Residential is likely to bounce back in 2HFY21E. Accounting for near-term challenges in Residential and Hospitality, we reduce our TP to INR195. However, reiterate Buy on account of favorable risk-reward.
However, we expect momentum to continue in the medium term, driven by a robust line-up of launches across business segments, strong execution capabilities, and the right product mix. Maintain Buy, with TP of INR195.
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