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    HomeNewsBusinessStocksHold Oberoi Realty; target of Rs 590: ICICI Direct

    Hold Oberoi Realty; target of Rs 590: ICICI Direct

    ICICI Direct recommended hold rating on Oberoi Realty with a target price of Rs 590 in its research report dated July 26, 2019.

    Broker Research
    July 30, 2019 / 12:35 IST
       
       
      26 Aug, 2025 12:21
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      ICICI Direct's research report on Oberoi Realty

      Oberoi Realty’s (ORL) sales volumes grew 65.3% QoQ (de-grew 16.3% YoY) to 2.4 lsf. Revenues de-grew 32.0% YoY to Rs 601.5 crore due to high base. EBITDA margins declined 12.7 percentage points YoY to 39.0% on account of higher revenue booking from low-margin Borivali projects. Consequently, PAT de-grew 50.2% YoY to Rs 152.1 crore.

      Outlook

      However, following the NHB circular on subvention scheme, residential sales momentum could be impacted in the interim until launch of Goregaon & Thane projects. We downgrade recommendation on the stock to HOLD with a TP of Rs 590/share.

      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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      Broker Research
      first published: Jul 30, 2019 12:35 pm

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