Buy Kolte-Patil Developers Ltd. target Rs 195 : HDFC Securities
Buy Kolte-Patil Developers Ltd. at a price target of Rs 195. HDFC Securities expects KPDL to generate Rs 1.3-1.4bn/annum FCF which may be utilized towards balance sheet deleveraging. We remain constructive
HDFC Securities has a buy call on Kolte-Patil Developers Ltd. with a target price of Rs 195. The current market price of Kolte-Patil Developers Ltd. is 176.55.
Robust financial performance: Consolidated Revenue/EBIDTA/APAT grew 62.5/20.5/66.8% YoY. Mirabillis project hit revenue recognition during 4QFY17, Life Republic and Corolla projects were other key revenue driver. Pre-sales volume/value came in at 0.55mn sqft/Rs 3.3bn a growth of 72/68% QoQ.
High LIG/MIG share; product reconfiguration key to future growth: To play on Government affordable stimulus theme, KPDL is launching
Annual Surplus to aid deleveraging: We expect KPDL to generate Rs 1.3-1.4bn/annum FCF which may be utilized towards balance sheet deleveraging. We remain constructive.
Robust financial performance: Consolidated Revenue/EBIDTA/APAT grew 62.5/20.5/66.8% YoY. Mirabillis project hit revenue recognition during 4QFY17, Life Republic and Corolla projects were other key revenue driver. Pre-sales volume/value came in at 0.55mn sqft/Rs 3.3bn a growth of 72/68% QoQ.
High LIG/MIG share; product reconfiguration key to future growth: To play on Government affordable stimulus theme, KPDL is launching
Annual Surplus to aid deleveraging: We expect KPDL to generate Rs 1.3-1.4bn/annum FCF which may be utilized towards balance sheet deleveraging. We remain constructive.
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