Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Brigade Enterprises: Strong operating performance across business segments (BRGD IN, Mkt Cap USD0.7b, CMP INR240, TP INR280, 17% Upside, Buy) Positive outlook despite subdued industry sentiments, Maintain Buy BRGD has continued to deliver strong pre-sales volume of 1msf+ over the last few quarters despite subdued residential demand and has guided for maintaining its momentum, coupled with a strong commentary around the leasing and hospitality segment. Given BRGD’s robust momentum in res...
BRIGADE ENTERPRISES: Strong operational performance; Traction likely to continue (BRGD IN, Mkt Cap USD0.6b, CMP INR207, TP INR245, 18% Upside, Buy) Pre-sales soared 24% YoY to 1msf in 2QFY20; booking value was up 15% YoY to INR5,288m with average realization of INR5,306psf, down 8% YoY. Growth was largely driven by affordable housing (AFH) projects (Eldorado and Utopia), which contributed 45% to the sales volume. 2QFY20 financial performance: BRGD’s revenue/EBITDA declined 11%/13% YoY t...
Brigade Enterprises: New launches to drive robust growth; Expect 3.6msf of pre-sales and 3msf of pre-leasing in FY20 (BRGD IN, Mkt Cap USD0.5b, CMP INR248, TP INR316, 27% Upside, Buy) We recently interacted with BRGD’s management to understand the progress of its two key commercial assets and its growth strategy for FY20. As outlined in our Initiating Coverage report dated 24th Dec 2018, BRGD appears all set for a in its portfolio with a clear focus on scaling up the high-potential leas...
Brigade Enterprises: New launch contribution impressive; robust performance to continue (BRGD IN, Mkt Cap USD0.4b, CMP INR228, TP INR324, 42% Upside, Buy) Pre-sales up 2x on new launches: BRGD reported pre-sales of 0.97msf (+125% YoY), booking value of INR5,198m (+121% YoY) and average realization of INR5,426psf (-2% YoY) in 4QFY19. Growth was mainly driven by its new launch Brigade Utopia in Bengaluru. For FY19, pre-sales increased 89% YoY to 2.97msf (FY18: 1.57msf), while booking value gre...
Brigade Enterprises: Robust volume growth; beat on estimates (BRGD IN, Mkt Cap USD0.4b, CMP INR206, TP INR283, 37% Upside, Buy) Strong operational performance: BRGD reported pre-sales of 0.78msf (+68% YoY), booking value of INR4,459m (+70% YoY) and average realization of INR5,741psf (+1% YoY) in 3QFY19. For 9MFY19, the company achieved pre-sales of 2msf v/s 1.14msf in 9MFY18 (+76%). Its booking value came in at INR11,242m v/s INR6,616m in 9MFY18 (+70%). Revenue grew 62%; EBITDA margins ...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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