Buy Piramal Enterprises; target of Rs 3685: Motilal Oswal

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26 Aug, 2025 12:21

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Motilal Oswal's research report on Piramal Enterprises

Piramal Enterprises (PIEL) hosted an analyst meet to discuss its Financial Services business in detail. Management believes that opportunities in corporate lending are aplenty, given that most public sector banks and some private sector banks are not so active in this space. Hence, while bulk of its loan book (~75%) is wholesale real estate lending, management expects the share of non-real estate corporate lending to expand meaningfully over the next three years.

Outlook

We increase our FY19/20 EPS estimates by up to 4% and use SOTP to arrive at a target price of INR3,685 (Sep’20E based). Maintain Buy.

For all recommendations report, click here

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