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Hold Oberoi Realty; target of Rs 568: Arihant Capital

Arihant Capital recommended hold rating on Oberoi Realty with a target price of Rs 568 in its research report dated May 13, 2019.

May 15, 2019 / 17:14 IST
     
     
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    Arihant Capital 's research report on Oberoi Realty

    Oberoi Realty (ORL) came out with good set of numbers which were mostly in line with our estimates except minor miss on the topline. Revenue grew 66% YoY to Rs 5735 mn below our estimate of Rs 6040 mn, EBITDA grew 14% YoY to Rs 2097 mn slightly above our estimate of Rs 1940 mn, while PAT stood at Rs 1.6 bn mostly in line with our estimate of Rs 1.5 bn, a growth of 9% YoY. With city-centric operations well spread out across the Mumbai region, ORL has a project portfolio of ~34 msf spread across 24 projects. With a strong brand name and a dominant position in each of its micro market, ORL has a strong visibility of future cash flows.

    Outlook

    We remain positive on ORL from longer term perspective, and have a Hold rating with a revised target price of Rs 568.

    For all recommendations report, click here

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    Broker Research
    first published: May 15, 2019 05:14 pm

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