Edelweiss is bullish on Sunteck Realty has recommended buy rating on the stock with a target price of Rs 360 in its research report dated February 16, 2017.
Edelweiss' research report on Sunteck Realty
Sunteck Realty’s (SRL) Q3FY17 numbers were driven by sales recognition in Signia Isle. While demonetisation hurt new sales during the quarter, we expect them to revive in ensuing quarters. SRL remains focused on executing ongoing projects and selling balance BKC inventory.
Also, its new launch plans remain intact. These should lead to operations scale up and imparts strong cash flows visibility going ahead. Hence, maintain ‘BUY’ with revised target price of INR 360 as we roll over to FY18E NAV of INR 514.
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First Published on Feb 21, 2017 03:19 pm