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Buy Oberoi Realty; Target Of Rs 497: HDFC Securities

HDFC Securities is bullish on Oberoi Realty has recommended buy rating on the stock with a target price of Rs 497 in its research report dated October 20, 2020.

Oct 21, 2020 / 12:11 PM IST
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HDFC Securities' research report on Oberoi Realty

ORL surprised positively as pre-sales volume recovered to 93% of 2QFY20 level. Booking value also rebounded to Rs 3.3bn during the quarter (vs 3.2bn in 2QFY20) on higher realization. We expect the momentum to continue for ORL, given the stamp duty cut, low-interest rate, strong brand recognition and market consolidation. Residential launches remain on track in Borivali, Goregaon and Thane. Besides, the company is mulling a platform to unlock value from existing commercial office space.


We tweak our FY21/22/23 estimates by +2/-4/-3% and maintain BUY with a revised TP of Rs 497.

For all recommendations report, click here

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first published: Oct 21, 2020 12:11 pm

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