Buy Oberoi Realty, target price Rs 525: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has a buy call on Oberoi Realty with a target price of Rs 525. The current market price of Oberoi Realty is Rs 500.3. Jayesh Bhanushali recommended to keep a stop loss at Rs 480.

Oberoi Realty key products/revenue segments include income from project development which contributed Rs 720.71 crore to sales value (73.97 per cent of total sales), income from hospitality which contributed Rs 127.82 crore to sales value (13.11 per cent of total sales), lease rentals which contributed Rs 119.67 crore to sales value (12.28 per cent of total sales) and other operating revenue which contributed Rs 6.03 crore to sales value (0.61 per cent of total sales) for the year ending 31 March, 2018.

For the quarter ended 30-06-2019, the company has reported a consolidated sales of Rs 603.25 crore, up 5.19 per cent from last quarter sales of Rs 573.51 crore and down 32.09 per cent from last year same quarter sales of Rs 888.26 crore. The company has reported a net profit after tax of Rs 150.83 crore in latest quarter. The company’s top management includes Karamjit Singh Kalsi, Saumil Daru, Tilokchand P Ostwal, Venkatesh Mysore, Vikas Oberoi, Bindu Oberoi and Tina Trikha. Company has S R B C & Co. LLP as its auditor. As on 30-06-2019, the company has a total of 363,602,237 shares outstanding.