Macrotech Developers - Reiterates Strong Growth Outlook: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.We retain our pre-sales and P&L estimates for FY24/FY25. As Macrotech Developers Ltd. continues to work on improving its market share by focusing project addition, faster turnaround and healthy sales velocity, we expect the company to sustain its strong pre-sales growth rate for a longer period.Given the recent run-up in real estate stocks, we continue to prefer players with an ability to sustain their pre-sales growth rate over the medium term along with healthy profitability.We maintain our 'Buy' rating on Macrotech Developers with a revised SoTP-based target price of Rs 850 as we incorporate higher long term growth rate given the progress on asset light strategy and lower weighted average cost of capital due to lower risk free rate..Macrotech Developers in its FY23 annual report highlighted-its target of delivering a 20% compound annual growth rate in the medium term, along with 20% return on equity;consistent deleveraging of the balance sheet to achieve a net debt-to-operating cash flow ratio of one time; andmeasures being taken to build a steady stream of annuity income..Click on the attachment to read the full report:.Gautam Adani Says Dharavi's World-Class Makeover To Kick Off From Zero Day .DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Macrotech Developers - Reiterates Strong Growth Outlook: Motilal Oswal

Healthy project pipeline; encouraging progress on asset-light strategy.

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