Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz

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
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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.


Outlook


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


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Oct 21, 2020 12:11 pm

stay updated

Get Daily News on your Browser
Sections