Oberoi Realty - New Projects To Revive Pre-Sales In Near Term: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Oberoi Realty Ltd.’s completed projects such as Sky City Phase 1, 360-West and Eternia Enigma have the potential to cumulatively generate Rs 15 billion plus of surplus cash annually. This, coupled with the scale-up in rental income, provides enough firepower to capture the business development opportunity. However, with seven new projects (two projects in Thane, GSK-Worli, Peddar Road, Tardeo redevelopment, potential MHADA redevelopment in Andheri and Gurugram) already tied up, the management is unlikely to be aggressive on new project acquisitions in the near term. .At current valuations, Oberoi Realty’s residential business implies a value of Rs 360- 370 billion. The estimated value of the existing pipeline, including the Gurugram project, is Rs 230 billion, implying 50-60% of going concern premium, which already accounts for near-term growth visibility.  We incorporate contribution from new hotel assets at Borivali and Thane and maintain our Neutral rating with an increased target price of Rs 1,390 indicating fair valuation..Click on the attachment to read the full report:.Mutual Funds Lap Up TCS Shares In Tata Sons Share Sale .DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oberoi Realty - New Projects To Revive Pre-Sales In Near Term: Motilal Oswal

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