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Last Updated : Jan 25, 2019 04:44 PM IST | Source: Moneycontrol.com

Buy Oberoi Realty; target of Rs 525: HDFC Securities

HDFC Securities is bullish on Oberoi Realty has recommended buy rating on the stock with a target price of Rs 525 in its research report dated January 23, 2019.

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HDFC Securities' research report on Oberoi Realty


Coming off a fairly impressive 1HFY19, ORL posted disappointing pre-sales in Goregaon and Worli. Despite Sky City continuing its strong >50 units/qtr performance, pre-sales (including JV) dropped to 0.14mn sqft in 3QFY19 (vs 0.24mn sqft QoQ). Revenue/EBIDTA/PAT came 21/38/11% below est.


Outlook


A strong balance sheet, a robust execution track record and a mix of Residential/Annuity assets gives us comfort. Maintain BUY with a reduced TP of Rs 525/sh.


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.

First Published on Jan 25, 2019 04:44 pm
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