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    HomeNewsBusinessStocksHold NBCC; target of Rs 220: ICICI Direct

    Hold NBCC; target of Rs 220: ICICI Direct

    ICICI Direct recommended hold rating on NBCC with a target price of Rs 220 in its research report dated August 21, 2017.

    August 23, 2017 / 15:21 IST
       
       
      26 Aug, 2025 12:21
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      ICICI Direct's research report onNBCC

      In terms of colonies redevelopment projects, for Nauroji Nagar, NBCC received a strong response in Q1FY18 and was able to sell properties worth Rs 1100 crore. Revenue booking for the Nauroji Nagar is expected to start from Q3FY18 onwards. For Netaji Nagar, the company would begin the sale and construction by Q4FY17 while for Sarojini Nagar, it expects to book revenues Q1FY19 onwards.

      Outlook

      Given the opportunities and order book in place, we would like execution to be ramped up. Furthermore, given the rich valuation of the stock (currently trading at 31x FY19E EPS), we maintain our HOLD rating on the stock with an SOTP based revised target price of Rs 220 (32x FY19E EPS).

      For all recommendations report, click hereDisclaimer: 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: Aug 23, 2017 03:21 pm

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