Buy Oberoi Realty, target price Rs 580: JM Financial

Buy Oberoi Realty, target price Rs 580:  JM Financial

JM Financial has buy call on Oberoi Realty with a target price of Rs 580. The current market price of Oberoi Realty Ltd. is Rs 546.95.

Oberoi Realty Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 19896.31 Crore) operating in Real Estate sector.

For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 828.41 Crore, up 162.11 % from last quarter Sales of Rs 316.06 Crore and up 57.07 % from last year same quarter Sales of Rs 527.43 Crore Company reported net profit after tax of Rs 286.80 Crore in latest quarter.

Investment Rationale
The brokerage maintains ‘BUY’ with Mar’22 TP of INR 580. Key risks: Slowdown in residential segment and delay in annuity assets.

Promoter/FII Holdings
Promoters held 35.8 per cent stake in the company as of June 30, 2020, while FIIs held 39.6 per cent, DIIs 13.2 per cent and public and others 11.3 per cent.

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