Buy Oberoi Realty with a target at Rs 365: UBS
The company’s Ebitda margin improved to 46 per cent from 42 per cent QoQ, which is a key positive.
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| Updated: UBS has given a buy rating on Oberoi Realty with a 12-month target price of Rs 365.
The earnings disappointment was primarily driven by lower revenue recognition from ongoing projects. The company’s Ebitda margin improved to 46 per cent from 42 per cent QoQ, which is a key positive. Operationally, residential sales of the company stood at Rs 260 crore, which played dampener. We believe the super-luxury residential launch in Worli to be the next big catalyst for the stock,” the brokerage said.
The earnings disappointment was primarily driven by lower revenue recognition from ongoing projects. The company’s Ebitda margin improved to 46 per cent from 42 per cent QoQ, which is a key positive. Operationally, residential sales of the company stood at Rs 260 crore, which played dampener. We believe the super-luxury residential launch in Worli to be the next big catalyst for the stock,” the brokerage said.
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