4 Real Estate Stocks Where Sharekhan Is “Positive” And Has “Buy” Call

Here are a list of stocks where Sharekhan has a "buy" call and some on which it has a "positive" call from the real estate sector, in its latest real estate sector report. It has a "buy" call on one and is positive on the remaining 3.

"Our real estate coverage universe (excluding Indiabulls Real Estate) reported weak residential pre-sales for Q3FY2023, which were down 11% y-o-y (down 8% q-o-q) on account of weak performance by Oberoi (down 68% y-o-y) and Prestige (down 41% y-o-y). However, all other companies (excluding Indiabulls) reported a healthy y-o-y jump in pre-sales booking. Realty universe reported 26.4%/28.6%/8.8% y-o-y revenue/operating profit/net profit growth which was largely in line. Realty companies remain optimistic on the demand environment despite the rise in interest rates," Sharekhan has said.

Buy Mahindra Lifespace Developers with a price target of Rs 600

The brokerage has a "buy" call on the stock of Mahindra Lifespace Developers with a price target of Rs 600 on the stock. "We have lowered our adjusted net earnings estimates for FY2023- FY2025E, factoring in a gradual recovery in operating profit margin (OPM)," the brokerage has said in its latest real estate report.

Positive on Oberoi Realty

The brokerage is also positive on Oberoi Realty and has set a price target of Rs 1099 on the stock. "We have increased our revenue estimates for FY2023-FY2025 factoring in higher sales run-rate and increased prices in a few projects. We have increased the OPM estimate for FY2023 while decreasing it for FY2024-FY2025 based on the revenue recognition of projects," the brokerage has said.

Positive on Prestige Estates

The brokerage is also positive on Prestige Estates and has a target price on the stock of Rs 548. "We have increased our net earnings estimates for FY2023 and finetuned for FY2024-FY2025," Sharekhan has said in its report.

Positive on Puravankara

Sharekhan is also positive on the stock of Puravankra. We have lowered our net earnings estimates for FY2023-FY2025 factoring in lower handover of projects than earlier envisage," the brokerage has said. It has a price target of Rs 115 on the stock.

Disclaimer

The stocks have been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.