Stay 'Neutral' On Oberoi Realty Shares As Current Valuations Limit Upside, Says Motilal Oswal

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Motilal Oswal Report

While Oberoi Realty Ltd.'s current valuation does not suggest significant near-term gains, we expect a robust 46% CAGR in pre-sales over FY25-27. A potential re-rating will hinge on the company's ability to reinvest the substantial cash flows generated from its completed and near-completion projects.

Oberoi Realty's residential segment is currently valued at Rs 290 billion. This valuation accounts for recent business development activities and Rs 30 billion for future land acquisitions.

We reiterate a Neutral rating with a revised net asset value of Rs 673 billion or Rs 1,850 per share (earlier Rs 627 billion or Rs 1,726 per share).

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