. OBEROI REALTY: 2QFY23 earnings a mixed bag; growth triggers intact
(OBER IN, Mkt Cap USD3.8b, CMP INR858, TP INR1100, 28% Upside, Buy)
Strong launch pipeline to drive pre-sales growth in FY23E
Key management commentary
Business development (BD): Management continues to remain committed on BD and is close to signing a redevelopment project in Mumbai. Company has also paid some advances in 2QFY23. The decision to develop retail or residential project at Glaxo land will be taken during the current quarter
Oberoi Realty is a real estate development company operating in Mumbai, focused on premium developments. Co.'s main focus is residential projects but they also have a diversified portfolio of projects covering segments of the real estate market, which target the upper end of the respective income or market segment. Co.'s operating investments comprise the Oberoi Mall, Commerz (commercial tower), Oberoi International School (social infrastructure) and The Westin Mumbai Garden City (269- keys five-star hospitality property).
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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