Edelweiss gives ‘Buy’ tag to this Multibagger Realty stock, raises target price

Keeping in mind the recent Qualified Institutional Placement (QIP) and fast pace of business development, the brokerage and research firm has retained ‘Buy’ rating on Macrotech stocks. 1,428 per share ( 1,223 earlier). multibagger stock There has been an increase of over 160% in a span of one year.

The company’s net debt to India business declined over the previous quarter, while nearly six JDA projects were tied up with GDV 100 billion during the quarter. Since the IPO, it has signed JDAs for eleven projects, with a cumulative GDV of approx. 145 billion.

Its new selling price increased by 40% year-on-year (YoY) despite the base quarter benefiting from lower stamp duty in Mumbai. The company has maintained its sales guidance of approx. 90 billion for FY22. The brokerage believes that Lodha can achieve this given the revival in Mumbai’s housing demand aided by property monetisation.

“Revival in housing demand, Lodha’s leadership position in MMR, strong business growth performance and ready inventory liquidations are likely to result in strong cash flows going forward. Rapid land monetization, portfolio growth, geographic diversification and annuity asset sales in Palava Potential stock could be the catalyst,” Edelweiss’s note added.

The Grosvenor Square project achieved pre-sales of GBP 177 million during the quarter and the company expects the project to be fully sold well ahead of the business plan target for Q4FY24. The Lincoln Square project achieved a pre-sale of 14 million GBP. Lodha expects the $225 million bond from the sale proceeds to be repaid over the next four months, before the scheduled maturity of March 2023.

The views and recommendations given above are those of individual analysts or broking companies and not of Mint.