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Last Updated : Jan 24, 2019 04:51 PM IST | Source: Moneycontrol.com

Buy Oberoi Realty; target of Rs 510: ICICI Direct

ICICI Direct recommended is bullish on Oberoi Realty has recommended buy rating on the stock with a target price of Rs 510 in its research report dated January 24, 2019.

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ICICI Direct's research report on Oberoi Realty


Oberoi Realty's (ORL) sales volumes declined 3.0% YoY to 1.47 lakh sq ft (lsf) (our estimate: 2.53 lsf), clocking sales value of Rs 241.6 crore Revenues grew strongly by 48.4% YoY to Rs 528.6 crore but were marginally below our estimate of Rs 557.2 crore on account of lower revenues from projects (Rs 393.9 crore vs. Rs 431.8 crore expected) EBITDA margins declined 1850 bps YoY to 35.6% (our estimate: 50.0%) on account of higher operating cost PAT grew 14.8% YoY to Rs 137.9 crore, though below our expectation of Rs 198.4 crore, on account of a sharp EBITDA margin decline.


Outlook


Hence, we maintain our BUY recommendation on the stock with a target price of Rs 510/ share.


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.




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First Published on Jan 24, 2019 04:51 pm
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