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[hfe_template id='11223'] [ad_1] With a strong residential pipeline, aggressive business development (BD) strategy, and a fortress balance sheet, Oberoi Realty stands out as domestic brokerage firm Elara Capital’s top pick in the real estate sector with a raised target price of Rs 2,500 (from Rs 2,350). Oberoi Realty has shifted gears, moving from a low-growth to a high-growth model, with new business development (BD) worth Rs 460 billion executed between FY23 and FY25 YTD, significantly bolstering its residential pipeline beyond Rs 1 trillion. Additionally, the potential acquisition of Sahara Group’s 106-acre Versova land could double its existing pipeline, reinforcing its expansion strategy. The company’s aggressive expansion spans across key micro-markets like Mulund, Worli, Thane, Goregaon, and Borivali, while also marking its first entry into Gurugram—a step toward multi-regional diversification. “The pace of expansion is likely to sustain on account of 1) high cash...

[hfe_template id='11223'] [ad_1] Oberoi Realty shares surged as much as 6.3% on Monday to a record high of Rs 2,250.65 on BSE after brokerage firm Axis Securities initiated coverage on the real estate developer with a 'buy' rating, at a target price of Rs 2,560, implying an upside of about 14% from current levels. The brokerage said that its recommendation is underpinned by the company’s strong positioning in Mumbai’s luxury real estate market, a growing annuity income stream, strategic geographic expansion, and solid financial fundamentals. Axis Capital said it also likes the company's robust annuity scale-up, entry into new key markets, and low leverage with strong cash flows. Oberoi has a substantial leasing portfolio in marquee locations, with occupancy levels exceeding 90%, the brokerage said, adding that the EBITDA margins for its current projects are consistently above 90%. Oberoi is targeting Rs 1,000 crore in annual exit rentals from its commercial p...

[hfe_template id='11223'] [ad_1] Expecting the growth momentum to continue in FY25 and favouring developers with a history of timely launches and strategic business development, domestic brokerage firm JM Financial initiated coverage on DLF, Keystone, Macrotech, Oberoi Realty and Sobha. FY24 was the best-ever year for absorption across residential real estate with pan-India sales crossing a billion square feet mark. Since FY21, pre-sales in the top 7 markets have largely been ahead of new launches, leading to a sharp reduction in inventory levels to 11 months. Among the listed players, Godrej, Prestige, Signature and Brigade delivered very strong growth in FY24. In terms of unsold inventory, the industry is at multi-year lows and new launches continue to see a strong response. “We expect this momentum to continue in FY25E, and are building in the market growth of 18% (volume growth of 12% and 6% escalation in prices) and a moderate increase in supply, which should be in ...