Buy Oberoi Realty; target of Rs 430: Edelweiss

Edelweiss is bullish on Oberoi Realty has recommended buy rating on the stock with a target price of Rs 430 in its research report dated January 30, 2017.

January 31, 2017 / 01:13 PM IST

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Edelweiss' research report on Oberoi Realty

For Q3FY17, Oberoi Realty (OBER) reported sharp YoY drop in revenues and profits on account of base effect, though remained flat sequentially. While cumulative new sales dipped QoQ on account of demonetisation, impact varied across projects. OBER expects sales momentum to revive in coming quarters.

OutlookWe expect the company’s operations to scale up in ensuing quarters led by improving affordability and supportive macros, which should translate into sharp earnings ramp up. We roll forward our NAV to FY18E (INR 478), leading to revised TP of INR 430 (earlier INR 400). Maintain ‘BUY’.

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Tags: #Buy #Edelweiss #Oberoi Realty #Outlook #Recommendations

first published: Jan 31, 2017 01:13 pm

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Expert Trading Guidance

Buy Oberoi Realty; target of Rs 430: Edelweiss

Edelweiss is bullish on Oberoi Realty has recommended buy rating on the stock with a target price of Rs 430 in its research report dated January 30, 2017.