Neutral Godrej Properties; target of Rs 1,800: Motilal Oswal

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

#Godrej Properties, #Motilal Oswal, #neutral, #Recommendations

Godrej Properties (GPL) reported a subdued quarter as its pre-sales volumes declined 7% YoY / 39% on a sequential basis. Better realizations led to marginal growth YoY in value terms. Collections improved on both a YoY/QoQ basis and led to positive operating cash generation (post interest, tax, and JV adjustments). GPL utilized INR7b of its balance QIP money for land and approval-related payouts.

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Outlook

The company announced its intention to invest in DB Realty (DB, not rated) through convertible warrants in order to explore slum rehabilitation (SRA) and Maharashtra Housing and Area Redevelopment Authority (MHADA) redevelopment opportunities through a JV under a separate SPV. With 90msf of the executable pipeline and INR40b of surplus cash, we expect the scale-up in pre-sales and cash flows would continue. However, at 3.3x P/NAV, we believe the larger part of the growth is baked into the valuation. Furthermore, the partnership with DB Realty would be a nearterm overhang until there is project visibility. We maintain our NEUTRAL rating on the stock, with revised SoTP-based TP of INR 1,800 v/s INR 2,100 earlier.

Global Tech News Daily

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

News Related

OTHER NEWS

Stock markets message to Godrej Properties: Grow fast, but not at all cost

Godrej Properties has created such steep growth expectations that it needs to look at every avenue for land acquisition. On February 3, 2022, the most unlikely partnership in Mumbai real-estate ... Read more »

Godrej Properties calls off DB Realty deal after shares plunge nearly 10%

Mumbai: Godrej Properties, the real estate development arm of Godrej Group, has decided not to go ahead with its plan to form a joint venture with property developer DB Realty ... Read more »

Seoul stocks likely to advance on technical rebound next week: analysts

By Chung Joo-won SEOUL, Feb. 5 (Yonhap) — South Korean stocks are likely to take on an uptick momentum next week on a technical rebound from the recent stock plunge, ... Read more »

Buy Orient Cement; target of Rs 233: Anand Rathi

Anand Rathi’s research report on Orient Cement In the high-cost milieu and heavy and unseasonal monsoon, Orient’s performance was much better than its peers, although its EBITDA/ PAT fell 14%/19% ... Read more »

Buy UPL; target of Rs 901: KR Choksey

KR Choksey’s research report on UPL In Q3FY22, UPL’s consolidated revenue grew by 23.8% YoY/6.9% QoQ to INR 1,12,970 mn. The growth was due to better realizations and a healthy ... Read more »

Accumulate Navin Fluorine International; target of Rs 4494: KR Choksey

KR Choksey’s research report on Navin Fluorine International During Q3FY22, NFIL’s reported strong topline growth of 22.58% YoY and 11.80% QoQ which came at INR 3,789 Mn. The growth was ... Read more »

Buy Radico Khaitan; target of Rs 1200: ICICI Direct

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected ... Read more »

Buy Subros; target of Rs 416: Khambatta Securities

Khambatta Securities’ research report on Subros Subros reported lower revenues in 3Q FY22 on a y-o-y basis (-9.3%) while 9M FY22 sales grew by a healthy 37%. 3Q FY22 EBITDA ... Read more »

Buy Century Plyboards; target of Rs 740: Khambatta Securities

Khambatta Securities’ research report on Century Plyboards Century Plyboards (India) Limited (CPIL) reported record revenues last quarter, led by strong growth in all segments barring CFS. Revenues grew by ~29.5% ... Read more »

Godrej Properties' board cancels planned investment in DB Realty

Mumbai-based real estate firm Godrej Properties on February 4 said its board has decided not to proceed with a previously announced plan to invest Rs 400 crore to acquire around 10 ... Read more »

Indigo Q3 result | Firm posts profit of Rs 130 crore after reporting losses for 7 quarters

Representative image Interglobe Aviation Ltd on Friday reported a surprise profit of Rs 129.79 crore in the December quarter for the first time after seven consecutive quarterly losses. Indigo had ... Read more »

Buy ITC; target of Rs 280: Sharekhan

Sharekhan’s research report on ITC ITC’s Q3FY2022 cigarettes sales volume growth stood at 12-13% (net revenues grew by 12.6%); Cigarette EBIT margin (based on net sales) improved by 117 bps ... Read more »

Buy Apollo Tyres; target of Rs 290: Sharekhan

Sharekhan’s research report on Apollo Tyres Q3FY22 results were mixed, with significant operational improvement in European business, while standalone (Indian) operations suffered due to input cost pressures. ATL is set ... Read more »

Buy Blue Star; target of Rs 1200: Sharekhan

Sharekhan’s research report on Blue Star Blue Star reported better than expected performance with strong revenue growth across business verticals, OPM stayed in-line despite gross margin pressures, overall leading to ... Read more »

Buy Cadila Healthcare; target of Rs 560: Sharekhan

Sharekhan’s research report on Cadila Healthcare Q3FY22 was a steady quarter for Cadila with the revenues and PAT reporting a flat yoy growth. India growth(Ex-Covid products) was strong while US ... Read more »

Buy GAIL; target of Rs 196: Sharekhan

Sharekhan’s research report on GAIL Q3FY22 PAT of Rs. 3,288 crore, up 121%/15% y-o-y/q-o-q was significantly above our and street estimate led by exceedingly high profitability in the gas marketing ... Read more »

Buy Tata Consumer Products; target of Rs 960: Sharekhan

Sharekhan’s research report on Tata Consumer Products Tata Consumer Products Limited’s (TCPL) Q3FY2022 performance was largely in-line with expectation with mid-single digit revenue growth; OPM expanded 262 bps to 14.4%, ... Read more »

Buy Housing Development Finance Corporation; target of Rs 3589: Sharekhan

Sharekhan’s research report on Housing Development Finance Corporation HDFC’s PAT beat street expectations at Rs. 3,261 crore, up 11% y-o-y (but down ~14% q-o-q), led by strong individual loan growth ... Read more »

Buy Dabur India; target of Rs 725: Sharekhan

buy_27632668 Sharekhan’s research report on Dabur India Dabur India reported y-o-y revenue growth of 7.8% and muted volume growth of 2% in Q3FY2022 on high base of 16% growth in ... Read more »

Moneycontrol Pro Panorama | Metaverse will have to wait for its moment in the sun

(Illustration by Suneesh K.) Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives ... Read more »

Buy Apollo Tyres; target of Rs 275: Motilal Oswal

Revenue grew 12% YoY to INR57.1b (est. INR55.75b). EBITDA declined by 19% YoY to INR7.4b (est. INR7.1b). EBITDA margin fell 500bp YoY (+45bp QoQ) to 13% (est. 12.8%). Adjusted PAT ... Read more »

Buy VRL Logistics; target of Rs 690: Motilal Oswal

VRL Logistics (VRL) delivered solid revenue growth of 20% YoY to INR6.8b (+7% QoQ), 9% above our estimates. Goods Transport (GT) revenue grew 19% YoY during 3QFY22 (based on 12% ... Read more »

Buy J K Lakshmi Cement; target of Rs 675: Motilal Oswal

JK Lakshmi Cement (JKLC)’s 3QFY22 result was above our estimate, led by better-than-estimated realization (2% over our expectation). EBITDA stood at INR1.46b (est. INR1.3b). EBITDA/t came in at INR595 (est. ... Read more »

Buy IIFL Wealth; target of Rs 2,100: Motilal Oswal

IIFLWAM’s PAT grew 7% QoQ and 59% YoY to INR1.5b – a 22% beat in 3QFY22, led by a 17% beat on net revenue (up 20% QoQ and 58% YoY ... Read more »

DB Realty deal overhang for Godrej Properties in short term

NEW DELHI: Godrej Properties deal with DB Realty for a 10 per cent stake received a thumbs down from analysts, who were concerned over the ‘convoluted’ deal and risk-prone slum ... Read more »

Neutral ITC; target of Rs 245: Motilal Oswal

ITC Ltd logo | Representative image While its 3Q earnings were in line with our estimates, the likely impact of the Omicron COVID variant on its 4Q earnings has resulted ... Read more »

Buy Indian Hotels Company; target of Rs 286: Sharekhan

Indian Hotels Company (IHCL) posted strong operating performance in Q3FY22 on back of strong recovery in performance of domestic as well as international properties. Consolidated revenues almost doubled y-o-y to ... Read more »

Godrej Properties extends losses, sinks 10% on worries over DB Realty deal

Shares of Godrej Properties extended their losses from February 3, falling another 10 percent on February 4 as investors continued to worry after yesterday’s announcement of a deal and December quarter earnings. ... Read more »

Buy Emami; target of Rs 590: Motilal Oswal

HMN’s volume/sales growth was flat/+4% YoY, respectively, lower than our estimates for 3QFY22. According to the management, this performance was attributable to the rural slowdown, lower Healthcare sales (off a ... Read more »

Buy GAIL; target of Rs 205: Motilal Oswal

GAIL reported a beat on all our numbers, primarily driven by multi-quarter high profitability in the Gas Trading business. Operating performance for LPG and Liquid HC also improved on a ... Read more »

Buy Titan Company; target of Rs 2,900: Motilal Oswal

Titan Company (TTAN)’s end-of-quarter update released in early January had indicated the strong revenue growth trend in Jewelry, owing to which sales forecasts were in-line. However, there was a big ... Read more »

Buy Indian Oil Corporation; target of Rs 150: Sharekhan

On a standalone basis, the oil marketing company reported a net profit of Rs 5,860.80 crore, up 19 percent against Rs 4,916.59 crore logged in the December 2020-21 quarter. Indian ... Read more »

Buy Dabur; target of Rs 705: Motilal Oswal

Titan Company (TTAN)’s end-of-quarter update released in early January had indicated the strong revenue growth trend in Jewelry, owing to which sales forecasts were in-line. However, there was a big ... Read more »

Buy MAS Financial Services; target of Rs 800: Motilal Oswal

MASFIN’s PAT rose 5% QoQ and 11% YoY to INR 401m (in line) in 3QFY22. Total income was up 10% QoQ/13% YoY to INR 887m (in line), while OPEX rose ... Read more »

Neutral Barbeque Nation Hospitality; target of Rs 1600: Motilal Oswal

BARBEQUE delivered a strong all-round performance in 3QFY22as the increase in mobility and upbeat festive sentiment drove a strong recovery in its dine-in business to 108% of pre-COVIDlevels. While the ... Read more »

Neutral Westlife Development; target of Rs 530: Motilal Oswal

WLDL delivered a beat on all fronts, driven by a strong recovery in both dine-in and convenience channels, which grew 39% and 55% YoY, respectively. Consequently, the company delivered a ... Read more »

(LEAD) Seoul stocks surge more than 1.5 pct on tech gains

(ATTN: ADDS bond yields at bottom, photo, more info in paras 7-8; RECASTS headline ) SEOUL, Feb. 4 (Yonhap) — South Korean stocks climbed more than 1 percent on Friday, ... Read more »

Godrej Properties hits 10% lower circuit despite 170% rise in PAT; here's why

New Delhi: Shares of Godrej Properties (GPL) hit a 10 per cent lower circuit limit during early trade on Friday following its December quarter earnings and a joint venture with ... Read more »

Stocks in the news: Tata Steel, ITC, Power Grid, IEX, Dr Reddy's and Adani Power

Nifty futures on the Singapore Exchange traded 60 points, or 0.32 per cent higher at 17,578.50, signaling that Dalal Street was headed for a positive start on Friday. Here are ... Read more »

Buy Tata Consumer Products; target of Rs 910: Motilal Oswal

TCP reported a revenue of INR32.1b (est. INR30.7b), up 5% YoY. EBITDA margin expanded 260bp YoY to 14.4% (est. 13.8%) on gross margin improvement (+590bp YoY/+90bp QoQ to 43.7%). EBITDA ... Read more »