Buy 6 Stocks From The Real Estate Sector: Sharekhan
Purvankara Ltd
Sharekhan has a price target of Rs 124 in contrast to the current market value of Rs 103, offering an upside potential of around 20% on the share.
“We retain our net earnings estimates for FY2023-FY2024. Puravankara is well-positioned to benefit from a rise in the property market due to its ability to launch quickly, a solid pipeline for launches, a de-leveraged balance sheet, a huge cash-flow-in-hand land bank that is paid up, and solid management capabilities,” the brokerage firm has stated.
Prestige Estates
This is another stock in which the brokerage is positive. Prestige Estates is a top real estate company, particularly within the capital city of Bangalore. The company has set a price goal of Rs 546 in contrast to the current market rate of Rs. 463.
“We retain our net earnings estimates for FY2023-FY2024. Prestige Estates is well-positioned to gain from the strong momentum in the real estate market for residential properties due to its position as a leader in Bengaluru and the positive reaction it has received in key markets like Mumbai as well as Hyderabad,” the brokerage firm said.
DLF
Sharekhan is optimistic about the shares of DLF which is a major company in the Delhi NCR region. The company is putting a goal of Rs 471 for the stock, compared to the current market value of Rs 377.
“We have refined our estimates for FY2023 to FY2024. The strong leadership position of DLF in Delhi-NCR, its strong residential pipeline, growing rental portfolio, huge land reserves with low costs for carrying, and positive housing market tailwinds offer an excellent opportunity to grow,” the brokerage has stated.
Arihant Superstructures
Sharekhan believes that the tailwinds of affordable housing should help a company such as Arihant Superstructures. “We retain our estimates for FY2023-FY2024. Arihant Superstructures’ leading position in MMR and especially in the segment of affordable housing is the perfect position to gain from the strong market for affordable housing positives,” the brokerage has stated. The shares traded at Rs 189. This has the very little upside to Sharekhan’s price target of Rs 200.
Oberoi Realty
This real estate company based in Mumbai is another stock. Sharekhan remains positive outlook. “We retain our estimates. Oberoi Realty is slated to profit from strong growth in the residential realty market and in particular, the highly lucrative MMR region. This is expected to continue going forward,” the brokerage has stated. Oberoi Realty shares company were recently traded at Rs 964 with the target price of Rs 1050.
Macrotech Developers
The brokerage also has a positive outlook on Macrotech’s developers. “We retain our estimates for FY2023-FY2024E. Macrotech is in good shape to meet its pre-sales goals, new project additions, as well as the goal of reducing net debt in FY2023.” Macrotech has stated.
Disclaimer
The stocks listed above were selected from the report of the brokerage IDBI Capital. When investing in equity, there is the risk of financial loss. Therefore, investors must exercise cautiousness. Author and brokerage houses aren’t accountable for any losses incurred by decisions made based on the content.
