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Phoenix Mills surges on opening `Phoenix Mall of the Millennium` in Pune The Phoenix Mills is currently trading at Rs. 1839.55, up by 26.95 points or 1.49% from its previous closing of Rs. 1812.60 on the BSE. The scrip opened at Rs. 1819.95 and has touched a high and low of Rs. 1858.95 and Rs. 1819.95 respectively. So far 5118 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1901.20 on 05-Sep-2023 and a 52 week low of Rs. 1186.45 on 16-Mar-2023. Last one week high and low of the scrip...
Phoenix Mills surges on opening `Phoenix Mall of the Millennium` in Pune
Phoenix Mills surges on opening `Phoenix Mall of the Millennium` in Pune
Source: Accord Fintech
8/09/2023 12:43:08 PM
Add Phoenix Mills Ltd For Target Rs.1,928 - ICICI Securities Pressing the growth pedal The Phoenix Mills (PHNX) has clocked a CAGR of 14% in consumption and 13% in retail rental across its mall portfolio over the last decade (FY13-23). Further, LTL consumption base for FY23 across the company’s operational malls was 19% higher than FY20 levels. With the company’s Wakad, Pune having opened in Sep’23 and Hebbal, Bengaluru also expected to open shortly and Indore/Ahmedabad malls having opened in FY23, the focus now shifts to growth fr...
Add Phoenix Mills Ltd For Target Rs.1,928 - ICICI Securities
Add Phoenix Mills Ltd For Target Rs.1,928 - ICICI Securities
Source: ICICI Securities Ltd
7/09/2023 3:40:23 PM
86% Projects Launched Post RERA in H2 2017 and 2018 Completed in Top 7 Cities One of the primary aims of the Real Estate Regulatory Act (RERA) was, and continues to be, safeguarding homebuyers from the harrowing issue of delayed and stalled housing projects. To a large extent, this objective is being achieved. Latest ANAROCK Research data finds that at least 86% of residential projects launched in the post-RERA period from H2 2017 and entire 2018 are completed. (Only H2 2017 & 2018 projects have been considered because on an average, it does not take more than 5...
86% Projects Launched Post RERA in H2 2017 and 2018 Completed in Top 7 Cities
86% Projects Launched Post RERA in H2 2017 and 2018 Completed in Top 7 Cities
Source: PR Agency
6/09/2023 6:02:56 PM
Discover Global Opportunities at the Global Residency and Citizenship Expo 2023 and Global Real Estate Expo 2023 in New Delhi Mark your calendars for September 16th, 2023, as New Delhi becomes the epicenter of global opportunities with the highly anticipated Global Residency and Citizenship Expo 2023 and Global Real Estate Expo 2023. PHD Chamber Of Commerce and Industry is all set to host the 5th Edition of GRACE and GRE 2023 at Hotel Le Meridien, this dynamic dual expo promises to provide attendees with unprecedented access to a world of possibilities in residency, citizenship, and internat...
Discover Global Opportunities at the Global Residency and Citizenship Expo 2023 and Global Real Estate Expo 2023 in New Delhi
Discover Global Opportunities at the Global Residency and Citizenship Expo 2023 and Global Real Estate Expo 2023 in New Delhi
Source: PR Agency
6/09/2023 5:49:14 PM
NBCC (India) surges on inking MoU with Kerala State Housing Board NBCC (India) is currently trading at Rs. 61.45, up by 1.67 points or 2.79% from its previous closing of Rs. 59.78 on the BSE. The scrip opened at Rs. 61.60 and has touched a high and low of Rs. 63.65 and Rs. 61.24 respectively. So far 3426993 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 63.65 on 06-Sep-2023 and a 52 week low of Rs. 29.85 on 30-Sep-2022. Last one week high and low of the scrip stood at Rs. 63....
NBCC (India) surges on inking MoU with Kerala State Housing Board
NBCC (India) surges on inking MoU with Kerala State Housing Board
Source: Accord Fintech
6/09/2023 11:36:41 AM
NBCC (India) zooms on bagging order worth Rs 20 crore NBCC (India) is currently trading at Rs. 56.68, up by 3.92 points or 7.43% from its previous closing of Rs. 52.76 on the BSE. The scrip opened at Rs. 53.01 and has touched a high and low of Rs. 57.70 and Rs. 52.85 respectively. So far 4105810 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 57.70 on 04-Sep-2023 and a 52 week low of Rs. 29.85 on 30-Sep-2022. Last one week high and low of the scrip stood at Rs. 57....
NBCC (India) zooms on bagging order worth Rs 20 crore
NBCC (India) zooms on bagging order worth Rs 20 crore
Source: IANS
4/09/2023 2:28:36 PM
Macrotech Developers jumps on raising Rs 405 crore through bonds Macrotech Developers is currently trading at Rs. 681.00, up by 10.75 points or 1.60% from its previous closing of Rs. 670.25 on the BSE. The scrip opened at Rs. 670.00 and has touched a high and low of Rs. 684.95 and Rs. 664.00 respectively. So far 14720 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 772.00 on 01-Aug-2023 and a 52 week low of Rs. 355.50 on 24-Feb-2023. Last one week high and low of the scrip s...
Macrotech Developers jumps on raising Rs 405 crore through bonds
Macrotech Developers jumps on raising Rs 405 crore through bonds
Source: Accord Fintech
1/09/2023 3:41:39 PM
NCC rises on receiving new orders worth Rs 8398 crore in August NCC is currently trading at Rs. 172.90, up by 3.20 points or 1.89% from its previous closing of Rs. 169.70 on the BSE. The scrip opened at Rs. 172.60 and has touched a high and low of Rs. 176.95 and Rs. 171.20 respectively. So far 576020 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 176.95 on 1-Sept-2023 and a 52 week low of Rs. 66.20 on 26-Sep-2022. Last one week high and low of the scrip stood at Rs. 176.95 ...
NCC rises on receiving new orders worth Rs 8398 crore in August
NCC rises on receiving new orders worth Rs 8398 crore in August
Source: Accord Fintech
1/09/2023 10:47:02 AM
Mumbai Clocks 3rd Consecutive Month of 10,000+ Property Registrations in August 23 Mumbai’s adrenaline-charged property market continues its dream run. The city registered 10,455 housing units in August 2023 - the third consecutive month of 10,000+ property registrations. The revenue collected by the Government this month was INR 776 Crore, a 7% decline from July 2023, but a 21% increase from August 2022.   A quick assessment of new unit launches in Mumbai for the period of Apr-Jun 2023 indicates that properties ranging from 500 - 1,000 sq ft dominated with...
Mumbai Clocks 3rd Consecutive Month of 10,000+ Property Registrations in August 23
Mumbai Clocks 3rd Consecutive Month of 10,000+ Property Registrations in August 23
Source: PR Agency
31/08/2023 5:17:44 PM
Mumbai records decadal best August as the city registers over 10,550 properties, collecting over 790 crs in stamp duty: Knight Frank India Mumbai city (area under BMC jurisdiction) in August 2023 is estimated to witness registration of 10,550 properties, contributing to a revenue influx of INR 790 Crores (Cr) for the state government. This showcases a 23% surge in registrations and revenue compared to the preceding year. Of the overall registered properties, residential units constitute 80%, the remaining 20% constitute non-residential assets. Table: Mumbai property sale registrations and government revenue collection ...
Mumbai records decadal best August as the city registers over 10,550 properties, collecting over 790 crs in stamp duty: Knight Frank India
Mumbai records decadal best August as the city registers over 10,550 properties, collecting over 790 crs in stamp duty: Knight Frank India
Source: PR Agency
31/08/2023 5:09:03 PM
Buy Brigade Enterprises Ltd. For Target Rs. 695- Yes Securities On a strong footing We expect Brigade Enterprises (BRGD) to see continued traction across business segments in FY24-25E. With a residential launch pipeline of ~8msf over the 12 months along with the recently acquired ~10acre land parcel in Kokapet, Hyderabad, we model for residential sales bookings of INR45.8bn in FY24E and INR51.3bn in FY25E. Further, we expect the company to clock rental NOI CAGR of 16% over FY22-25E to INR6.2bn led by lease-up of vacant space in Tech Gardens, Bengaluru ...
Buy Brigade Enterprises Ltd. For Target Rs. 695- Yes Securities
Buy Brigade Enterprises Ltd. For Target Rs. 695- Yes Securities
Source: Yes Securities Ltd
30/08/2023 12:25:30 PM
NBCC trades higher on bagging order worth Rs 66.32 crore NBCC is currently trading at Rs. 51.36, up by 0.49 points or 0.96% from its previous closing of Rs. 50.87 on the BSE. The scrip opened at Rs. 51.50 and has touched a high and low of Rs. 52.00 and Rs. 51.07 respectively. So far 507002 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 52.05 on 23-Aug-2023 and a 52 week low of Rs. 29.85 on 30-Sep-2022. Last one week high and low of the scrip stood at Rs. 52.05 and Rs...
NBCC trades higher on bagging order worth Rs 66.32 crore
NBCC trades higher on bagging order worth Rs 66.32 crore
Source: Accord Fintech
29/08/2023 11:06:18 AM
Buy Brigade Enterprises Ltd. For Target Rs. 720 - Motilal Oswal Financial Services Ltd Steady operational quarter; P&L hit by lower residential recognition Sales bookings nearly flat excluding sales of landowners’ share * Brigade Enterprises (BEL) reported a steady quarter of bookings with presales of INR10b, up 22% YoY and 13% above our estimate. However, presales declined 33% QoQ due to absence of any new launches in 1QFY24. * Pre-sales in 1QFY24 included sales of landowners’ area at INR1.4b. Excluding this, pre-sales were in line and nearly flat YoY....
Buy Brigade Enterprises Ltd. For Target Rs. 720 - Motilal Oswal Financial Services Ltd
Buy Brigade Enterprises Ltd. For Target Rs. 720 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
28/08/2023 12:26:30 PM
India`s real estate sector is expected to expand to USD 5.8 trn by 2047: Knight Frank-NAREDCO In its latest report – India Real Estate: Vision 2047, Knight Frank India, a leading real estate consultancy in the country, in association of NAREDCO has projected that India’s real estate sector is expected to expand to USD 5.8 trillion (trn) or USD 5,833 billion (bn) by 2047. This estimated real estate output value will contribute 15.5% to the total economic output in 2047 from an existing share of 7.3%. The report India Real Estate: Vision 2047 was unveiled by Shri. M. Venk...
India`s real estate sector is expected to expand to USD 5.8 trn by 2047: Knight Frank-NAREDCO
India`s real estate sector is expected to expand to USD 5.8 trn by 2047: Knight Frank-NAREDCO
Source: Knight Frank
26/08/2023 4:46:01 PM
India`s real estate sector aims for USD 5.8 Trn valuation by 2047: Report India's real estate industry could reach a value of USD 5.8 trillion by 2047, according to a joint report by the National Real Estate Development Council (NAREDCO) and Knight Frank. The report "Vision 2047" was unveiled during NAREDCO's 25th Silver Jubilee Foundation Day celebration in Hyderabad in the presence of prominent figures, policymakers, industry leaders, and real estate experts. Residential real estate might contribute USD 3.5 trillion, office real estate aro...
India`s real estate sector aims for USD 5.8 Trn valuation by 2047: Report
India`s real estate sector aims for USD 5.8 Trn valuation by 2047: Report
Source: IANS
26/08/2023 3:42:40 PM
Expert Comment on India`s real estate sector is expected to expand to USD 5.8 trn by 2047 Say`s Mr. Pradeep Aggarwal, Signature Global (India) Ltd Below the comment on India’s real estate sector is expected to expand to USD 5.8 trillion by 2047: Knight Frank-NAREDCO Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd "The real estate sector -  both residential and commercial - has demonstrated tremendous perseverance over the years and performed remarkably well particularly in recent times. The housing sector particularly has emerged stronger and healthier in the aftermath of the Covid...
Expert Comment on India`s real estate sector is expected to expand to USD 5.8 trn by 2047 Say`s Mr. Pradeep Aggarwal, Signature Global (India) Ltd
Expert Comment on India`s real estate sector is expected to expand to USD 5.8 trn by 2047 Say`s Mr. Pradeep Aggarwal, Signature Global (India) Ltd
Source: PR Agency
26/08/2023 3:17:33 PM
Add Capacite Infraprojects Ltd For The Target Rs. 239 - Yes Securities Our view Capacite reported weak set of numbers led by slower execution on account of delay in tying up non-fund based limits. However, with sanction of additional working capital limits of Rs1.5bn and equity infusion of Rs963mn, the liquidity position has improved and the same will be reflected from 2Q. With order inflow of Rs11.5bn in 1Q, management is confident of achieving the order inflow target of Rs21-22bn in FY24E. Orderbook stood at Rs102.5bn in 1QFY24 thereby providing strong reve...
Add Capacite Infraprojects Ltd For The Target Rs. 239 - Yes Securities
Add Capacite Infraprojects Ltd For The Target Rs. 239 - Yes Securities
Source: Yes Securities Ltd
26/08/2023 11:27:27 AM
Buy NCC Ltd For Target Rs.184 - Geojit Financial Services Ltd All-time high order book... NCC Ltd. (NCC) is one of the largest, well diversified construction companies in India, with a foothold in every segment of the construction sector. * NCC reported a top-line growth of 30% YoY, backed by its strong execution in Jal Jeevan Mission projects (30% of revenue). * EBITDA margin improved by 41bps YoY to 9.9% in Q1 FY24, principally due to higher execution and moderation in input prices. NCC expects margins to improve to 10% in FY24, led by a bett...
Buy NCC Ltd For Target Rs.184 - Geojit Financial Services Ltd
Buy NCC Ltd For Target Rs.184 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
25/08/2023 2:11:08 PM
Nila Infrastructures moves higher on getting LOA worth Rs 17.94 crore Nila Infrastructures is currently trading at Rs. 5.62, up by 0.28 points or 5.24% from its previous closing of Rs. 5.34 on the BSE. The scrip opened at Rs. 5.47 and has touched a high and low of Rs. 5.72 and Rs. 5.39 respectively. So far 69484 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 8.65 on 13-Nov-2022 and a 52 week low of Rs. 4.23 on 29-Mar-2023. Last one week high and low of the scrip stood at Rs. 5.75...
Nila Infrastructures moves higher on getting LOA worth Rs 17.94 crore
Nila Infrastructures moves higher on getting LOA worth Rs 17.94 crore
Source: Accord Fintech
25/08/2023 11:05:00 AM
Power Mech Projects gains on receiving order worth Rs 158.67 crore Power Mech Projects is currently trading at Rs. 3983.95, up by 27.25 points or 0.69% from its previous closing of Rs. 3956.70 on the BSE. The scrip opened at Rs. 3945.00 and has touched a high and low of Rs. 3990.00 and Rs. 3934.75 respectively. So far 817 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5062.25 on 31-Jul-2023 and a 52 week low of Rs. 1283.00 on 25-Aug-2022. Last one week high and low of the scr...
Power Mech Projects gains on receiving order worth Rs 158.67 crore
Power Mech Projects gains on receiving order worth Rs 158.67 crore
Source: Accord Fintech
25/08/2023 10:50:20 AM
Buy Ashoka Buildcon Ltd For Target Rs.142 - Yes Securities Our view Ashoka Buildcon Ltd (ASBL) 1QFY24 results were in-line overall where revenues grew 3% YoY at Rs19.3bn supported by 7% growth in construction segment. EBITDA margins contracted ~134bp YoY at 24.5% due to 1) de-growth in toll revenue and 2) higher raw material prices. Order book (OB) remains strong at stands at Rs169.2bn (~2.1x TTM revenue). The balance equity requirement for HAM assets as of June’23 stands at Rs1.7bn, of which Rs 1.1/0.6bn would be infused in FY24E/25E. For A...
Buy Ashoka Buildcon Ltd For Target Rs.142 - Yes Securities
Buy Ashoka Buildcon Ltd For Target Rs.142 - Yes Securities
Source: Yes Securities Ltd
24/08/2023 2:19:57 PM
Vascon Engineers surges on getting LoA worth Rs 605.65 crore Vascon Engineers is currently trading at Rs. 62.46, up by 2.30 points or 3.82% from its previous closing of Rs. 60.16 on the BSE. The scrip opened at Rs. 64.31 and has touched a high and low of Rs. 65.57 and Rs. 62.29 respectively. So far 788031 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.57 on 24-Aug-2023 and a 52 week low of Rs. 23.25 on 24-Aug-2022. Last one week high and low of the scrip stood at Rs....
Vascon Engineers surges on getting LoA worth Rs 605.65 crore
Vascon Engineers surges on getting LoA worth Rs 605.65 crore
Source: Accord Fintech
24/08/2023 10:43:04 AM
Mumbai ranks 6th on the Prime Global Cities Index: Knight Frank Knight Frank, a leading international property consultancy, in its report ‘Prime Global Cities Index Q2 2023’ noted that Mumbai recorded the 6th highest YoY growth in prices in Q2 2023. Incidentally, the city is forecasted to record the highest annual price at 5% on the Prime Global Cities Index for the year 2024.  In Q2 2023, prime residential prices in Mumbai grew at 5.2% year-on-year (YoY). With an increase of 3.6% YoY in Q2 2023, Bengaluru ranked 20th and New Delhi positi...
Mumbai ranks 6th on the Prime Global Cities Index: Knight Frank
Mumbai ranks 6th on the Prime Global Cities Index: Knight Frank
Source: Knight Frank
23/08/2023 5:41:01 PM
ANAROCK Signs Up Madhya Pradesh Housing Board for ACRM India's leading independent residential real estate services consultant ANAROCK Group has announced that it has signed up the Madhya Pradesh Housing Board (MPHB) for its proprietary AI-enabled customer relationship management services. The ANAROCK CRM (ACRM) suite results in a 10-fold increase in inventory sales within a couple of months of implementation. Sadiq Din, Head - ANAROCK CRM (India & International), ANAROCK Group, says, "We are gratified to onboard our first governm...
ANAROCK Signs Up Madhya Pradesh Housing Board for ACRM
ANAROCK Signs Up Madhya Pradesh Housing Board for ACRM
Source: PR Agency
23/08/2023 4:28:12 PM
Buy PNC Infratech Ltd For Target Rs.442- Yes Securities Asset monetization on the cards Our view PNC Infratech Ltd (PNCL) 1QFY24 performance continue to be healthy with revenue growth of 8.2%with EBITDAM at 13.2%. PNCL has an order book of Rs149bn indicating revenue visibility for the next 1?2 years. Further for order inflow, company has maintained its guidance of Rs100bn in FY24E (till date has received orders worth Rs41bn). The company is in discussion with strategic investors for monetization of its HAM portfolio and expects the transacti...
Buy PNC Infratech Ltd For Target Rs.442- Yes Securities
Buy PNC Infratech Ltd For Target Rs.442- Yes Securities
Source: Yes Securities Ltd
23/08/2023 2:11:22 PM
Buy Prestige Estates Projects Ltd For Target Rs.750 - Motilal Oswal Financial Services Strong operational momentum sustains Net debt up by INR9b on higher land investments Strong response to launch drives pre-sales growth * Prestige Estates Projects (PEPL) maintained strong momentum in pre-sales, with bookings up 30% YoY at INR39b (5% above estimate), in line with the quarterly run rate of the company’s FY24 guidance of INR160b. * Growth was largely driven by strong response to its Bengaluru project launch (Prestige Lavender fields), which contributed over 5...
Buy Prestige Estates Projects Ltd For Target Rs.750 - Motilal Oswal Financial Services
Buy Prestige Estates Projects Ltd For Target Rs.750 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
23/08/2023 1:18:47 PM
Sell Godrej Properties Ltd For Target Rs.1,318 - ICICI Securities Cash flows disappoint, debt levels a key monitorable Godrej Properties (GPL) clocked muted Q1FY24 gross sales bookings of 2.25msf worth INR22.5bn (I-sec estimate of INR24.0bn) and was down 11% YoY in value terms owing to delay in a few planned launches. While the company retains guidance for INR140bn of FY24 gross sales bookings driven by a launch pipeline of ~19msf for rest of FY24, operating cash surplus for Q1FY24 were weak at INR1.2bn. Further, with heavy land spend of INR16bn during t...
Sell Godrej Properties Ltd For Target Rs.1,318 - ICICI Securities
Sell Godrej Properties Ltd For Target Rs.1,318 - ICICI Securities
Source: ICICI Securities
23/08/2023 12:51:24 PM
Buy Housing And Urban Development Corporation For Target Rs. 76/81 - LKP Securities Future Outlook • The PSU under the Ministry of Housing & Urban Affairs has been instrumental in transforming Urban India for over 5 decades. • With NIM's of over 3%, HUDCO trades below book value despite the 80% rise in its stock price during the past one year. • HUDCO is strategically important for the GOI since it is the nodal agency for various housing schemes. Technical Commentary • A notable breakout has occurred on the weekly chart, marked by a...
Buy Housing And Urban Development Corporation For Target Rs. 76/81 - LKP Securities
Buy Housing And Urban Development Corporation For Target Rs. 76/81 - LKP Securities
Source: LKP Securities
22/08/2023 3:47:51 PM
Buy PNC Infratech Ltd For Target Rs.475 - JM Financial Asset monetization plans on track PNC Infratech’s (PNC) 1QFY24 results were in-line with our estimates. PAT declined by 6% YoY to INR 1.57bn (estimate: INR 1.55bn; consensus: INR 1.6bn). PY financials include early completion bonus of INR 370mn and revenue from toll collection contract of INR 1bn and impacts YoY revenue growth and margins. Revenue grew by 6% YoY to INR 18.6bn (15% YoY growth on adjusted base). EBITDA margin declined by 30bps YoY on adjusted base to 13.2% (estimate: 1...
Buy PNC Infratech Ltd For Target Rs.475 - JM Financial
Buy PNC Infratech Ltd For Target Rs.475 - JM Financial
Source: JM Financial Institutional Securities
22/08/2023 3:02:00 PM
Buy Ashoka Buildcon Ltd For Target Rs.142 - Yes Securities Long way to become asset light Our view Ashoka Buildcon Ltd (ASBL) 1QFY24 results were in-line overall where revenues grew 3% YoY at Rs19.3bn supported by 7% growth in construction segment. EBITDA margins contracted ~134bp YoY at 24.5% due to 1) de-growth in toll revenue and 2) higher raw material prices. Order book (OB) remains strong at stands at Rs169.2bn (~2.1x TTM revenue). The balance equity requirement for HAM assets as of June’23 stands at Rs1.7bn, of which Rs 1.1/0.6bn wo...
Buy Ashoka Buildcon Ltd For Target Rs.142 - Yes Securities
Buy Ashoka Buildcon Ltd For Target Rs.142 - Yes Securities
Source: Yes Securities Ltd
22/08/2023 2:55:43 PM
Buy Mahindra Lifespace Developers Ltd For Target Rs.650 - ICICI Direct Strong Growth roadmap laid out! About the stock: Mahindra Lifespace Developers (MLD) is the real estate and infrastructure development business of the Mahindra Group. It has ~34.5 msf of completed, ongoing and forthcoming residential projects across seven cities and over 5,000 acres of ongoing and forthcoming projects under development at its integrated cities / industrial clusters (IC& IC) across four locations. • It has sharply scaled up sales momentum with FY23 sales value a...
Buy Mahindra Lifespace Developers Ltd For Target Rs.650 - ICICI Direct
Buy Mahindra Lifespace Developers Ltd For Target Rs.650 - ICICI Direct
Source: ICICI Direct
22/08/2023 12:40:52 PM
NBCC (India) zooms on inking MoU with DMRC NBCC (India) is currently trading at Rs. 50.95, up by 3.54 points or 7.47% from its previous closing of Rs. 47.41 on the BSE. The scrip opened at Rs. 47.51 and has touched a high and low of Rs. 51.20 and Rs. 47.51 respectively. So far 1758957 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 51.20 on 11-Aug-2023 and a 52 week low of Rs. 29.85 on 30-Sep-2022. Last one week high and low of the scrip stood at Rs. 51....
NBCC (India) zooms on inking MoU with DMRC
NBCC (India) zooms on inking MoU with DMRC
Source: Accord Fintech
22/08/2023 11:50:46 AM
Patel Engineering shines as its JV declared as Lowest Bidder for urban infrastructure development project Patel Engineering is currently trading at Rs. 58.00, up by 1.89 points or 3.37% from its previous closing of Rs. 56.11 on the BSE. The scrip opened at Rs. 56.90 and has touched a high and low of Rs. 58.54 and Rs. 56.86 respectively. So far 472024 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 58.54 on 22-Aug-2023 and a 52 week low of Rs. 13.10 on 27-Feb-2023. Last one week high and low of the scrip stood at Rs....
Patel Engineering shines as its JV declared as Lowest Bidder for urban infrastructure development project
Patel Engineering shines as its JV declared as Lowest Bidder for urban infrastructure development project
Source: Accord Fintech
22/08/2023 10:30:22 AM
Godrej Properties gains on getting fresh ratings for proposed NCD borrowing programmes Godrej Properties is currently trading at Rs. 1543.00, up by 17.25 points or 1.13% from its previous closing of Rs. 1525.75 on the BSE. The scrip opened at Rs. 1525.75 and has touched a high and low of Rs. 1546.20 and Rs. 1525.75 respectively. So far 4344 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1768.80 on 28-Jul-2023 and a 52 week low of Rs. 1005.70 on 29-Mar-2023. Last one week high and low of the scrip...
Godrej Properties gains on getting fresh ratings for proposed NCD borrowing programmes
Godrej Properties gains on getting fresh ratings for proposed NCD borrowing programmes
Source: Accord Fintech
21/08/2023 2:19:59 PM
Buy ITD Cementation India Ltd For Target Rs. 221 - Yes Securities Ltd Our view ITD cementation (ITCE) reported a strong set of numbers, with a strong 33% YoY revenue growth at Rs18.3bn led by robust execution while EBITDAM came in at 8.8% (incl provision of Rs290mn for Elevated Bangalore metro project). With an order inflow of Rs2.5bn, the orderbook as on 1QFY24 stood at Rs185bn (excl. L1 orders worth Rs55bn). Geographical wise, OB is well-diversified thereby providing a natural hedge from a slowdown in any particular business segment. With healthy 1Q execut...
Buy ITD Cementation India Ltd For Target Rs. 221 - Yes Securities Ltd
Buy ITD Cementation India Ltd For Target Rs. 221 - Yes Securities Ltd
Source: Yes Securities Ltd
21/08/2023 1:04:25 PM
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, announced receiving fresh ratings for proposed Non-Convertible Debenture (NCD) borrowing programmes from ICRA and India Ratings and Research Private Limited for INR 2,000 crore and INR 2,500 crore, respectively. Additionally, the long-term rating for existing bank facilities of INR 4,500 crore was reaffirmed at [ICRA]AA+/[ICRA]A1+ along with the existing NCD of INR 3,000 crore reaffi...
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
ICRA and India Ratings and Research Private Limited assign proposed NCD programmes of Godrej Properties Limited for INR 2,000 crore and INR 2,500 crore
Source: PR Agency
21/08/2023 11:30:45 AM
Motilal Oswal Alternates set to raise Rs 2,000 Cr for its sixth real estate fund Motilal Oswal Alternates (“MO Alts”), the alternative investments arm of Motilal Oswal Financial Services Limited is set to raise up to Rs 2,000 Cr through its recently launched sixth real estate fund “India Realty Excellence Fund VI (IREF VI).” Building on the success of its previous real estate funds, MO Alts is further strengthening its presence in the real estate sector with a focus on early-stage investments. MO Alts, till date, has invested capital i...
Motilal Oswal Alternates set to raise Rs 2,000 Cr for its sixth real estate fund
Motilal Oswal Alternates set to raise Rs 2,000 Cr for its sixth real estate fund
Source: PR Agency
17/08/2023 4:09:11 PM
Brahmaputra Infrastructure surges on inking master restructuring agreement with lenders Brahmaputra Infrastructure is currently trading at Rs. 52.85, up by 1.91 points or 3.75% from its previous closing of Rs. 50.94 on the BSE. The scrip opened at Rs. 52.49 and has touched a high and low of Rs. 55.95 and Rs. 50.20 respectively. So far 156609 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 55.95 on 17-Aug-2023 and a 52 week low of Rs. 25.20 on 30-Aug-2022. Last one week high and low of the scrip st...
Brahmaputra Infrastructure surges on inking master restructuring agreement with lenders
Brahmaputra Infrastructure surges on inking master restructuring agreement with lenders
Source: Accord Fintech
17/08/2023 2:43:40 PM
Colliers appoints Badal Yagnik as new Chief Executive Officer in India Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced that Badal Yagnik has been appointed as Chief Executive Officer, India, effective immediately. Based in Gurgaon, Yagnik will collaborate closely with Sankey Prasad, Colliers’ Chairman & Managing Director, India, to drive further growth and profitability for the firm. “As one of the most well-known industry leaders in the r...
Colliers appoints Badal Yagnik as new Chief Executive Officer in India
Colliers appoints Badal Yagnik as new Chief Executive Officer in India
Source: PR Agency
17/08/2023 12:35:05 PM
Ahmedabad, Kolkata and Pune are the most affordable housing markets in the country: Knight Frank India Knight Frank India in its proprietary Affordability Index cited that higher home loan rates have reduced affordability across all markets so far in 2023. As per the assessment of the affordability index, despite the change, Ahmedabad is the most affordable housing market amongst the top eight cities, with a ratio of 23% followed by Pune and Kolkata at 26% each. Knight Frank's Affordability Index tracks the EMI (Equated Monthly Instalment) to income ratio for an average household, has w...
Ahmedabad, Kolkata and Pune are the most affordable housing markets in the country: Knight Frank India
Ahmedabad, Kolkata and Pune are the most affordable housing markets in the country: Knight Frank India
Source: Knight Frank
16/08/2023 6:19:20 PM
Buy Sunteck Realty Ltd For Target Rs. 500 - Yes Securities On track to achieve presales target with slated launch Our view Sunteck Realty (SRIN) achieved presales of Rs3.87bn; collected Rs2.88bn for the Q1FY24 and guided for 20-30% growth for FY24E. SRIN plans to launch the Kalyan project (10msf) in FY24 while the recently launched Mira Road project achieved Rs2.5bn in Q1FY24. Additionally, plans to launch subsequent phases in Naigaon & ODC. Management reiterated that SRIN will continue to aggressively vouch for lucrative opportunities in m...
Buy Sunteck Realty Ltd For Target Rs. 500 - Yes Securities
Buy Sunteck Realty Ltd For Target Rs. 500 - Yes Securities
Source: Yes Securities Ltd
15/08/2023 1:11:16 PM
Buy Sobha Ltd For Target Rs 891 - ICICI Securities FY24 sales booking guidance contingent on new launches Sobha Ltd. (SOBHA) achieved record Q1FY24 gross sales bookings of 1.39msf worth INR14.7bn (up 28% YoY in value terms), aided by the company achieving its highest-ever gross realisation of INR10,506/psf. The strong start to FY24 comes on the back of a strong FY23 operating performance where the company had clocked its best-ever annual sales performance with gross sales bookings of 5.65msf worth INR52.0bn. As per company management, dema...
Buy Sobha Ltd For Target Rs 891 - ICICI Securities
Buy Sobha Ltd For Target Rs 891 - ICICI Securities
Source: ICICI Securities
15/08/2023 12:15:24 PM
Add Prestige Estates Projects Ltd For Target Rs. 673 - Yes Securities Ltd Pending annuity capex to drive debt higher Our view Prestige Estates Projects (PEPL) achieved stellar pre-sales Rs39.15bn in Q1FY24 and collected Rs27.41bn while launched 3.11msf (Prestige Lavender Fields). Also delivered 5.90msf of projects in Bangalore. PEPL is geared up to launch ~35msf of residential projects across geographies in next 12-15months with sales potential of Rs320bn. PEPL is confident to achieve 25% presales growth guidance on the back strong launch pipeline. To keep th...
Add Prestige Estates Projects Ltd For Target Rs. 673 - Yes Securities Ltd
Add Prestige Estates Projects Ltd For Target Rs. 673 - Yes Securities Ltd
Source: Yes Securities Ltd
14/08/2023 2:09:53 PM
Add Prestige Estates Projects Ltd For Target Rs.611 - ICICI Securities Sales bookings impress, debt levels the key monitorable Prestige Estates Projects (PEPL) clocked strong Q1FY24 sales bookings worth INR39.1bn (up 30% YoY) driven by new launches of 3.1msf and ongoing project inventory sales. For the remainder of FY24, the company has project launches lined up across South India, Mumbai and NCR having GDV of ~INR400bn. Consolidated net debt levels have risen by INR25.6bn over the last 12 months as the company continues to incur annual land/stake buyout spen...
Add Prestige Estates Projects Ltd For Target Rs.611 - ICICI Securities
Add Prestige Estates Projects Ltd For Target Rs.611 - ICICI Securities
Source: ICICI Securities
13/08/2023 9:58:01 AM
Add Stylam Industries Ltd For Target 1,767 - Yes Securities Result Synopsis Stylam Industries Ltd (SYIL), registered benign performance in Q1FY24. Revenue declined by 4%YoY & 5%QoQ (4th straight quarter of sequential revenue decline), which was primarily on account of 12%YoY decline in exports (66% of topline). However domestic sales (34% of revenue) increased by 16.7%YoY. Overall volumes stood at 2.8Mn sheets, a growth of 3.7%YoY & 2.6%QoQ (2-year CAGR stood at 25%). ASP came in at Rs772/sheet Vs Rs856/Rs835 in Q1FY23/Q4FY23 respectively, ...
Add Stylam Industries Ltd For Target 1,767 - Yes Securities
Add Stylam Industries Ltd For Target 1,767 - Yes Securities
Source: Yes Securities Ltd
12/08/2023 3:38:58 PM
Luxury Homes Appreciate 24% in Avg. Price in the Top 7 Cities Since 2018, Affordable Housing Sees 15% The pandemic has been an indubitable boon for the previously lacklustre luxury homes segment, with sales and new supply increasing manifold since then. Prices were bound to catch up with the demand.   On analysing the average price trends in the top 7 cities across different budget segments, ANAROCK Research data reveals that luxury homes have recorded the highest average price appreciation of 24% in the last five years.   Prices of luxury homes in the top 7 cities in 20...
Luxury Homes Appreciate 24% in Avg. Price in the Top 7 Cities Since 2018, Affordable Housing Sees 15%
Luxury Homes Appreciate 24% in Avg. Price in the Top 7 Cities Since 2018, Affordable Housing Sees 15%
Source: PR Agency
8/08/2023 2:21:32 PM
Impact of High Interest Rates on Home Buyers Across Segments By Akash Pharande, Managing Director - Pharande Spaces As we await the RBI's monetary policy decision on the repo rate, let us examine the factors involved, and their implications on the Indian housing market. There can be various reasons for a hike in the repo rate, including inflationary pressure, rising food and fuel prices, excessive growth in the money supply, weakening of the Indian rupee, global economic factors such as a significant increase in international crude oil prices or global market instability, inflation expectations, and...
Impact of High Interest Rates on Home Buyers Across Segments By Akash Pharande, Managing Director - Pharande Spaces
Impact of High Interest Rates on Home Buyers Across Segments By Akash Pharande, Managing Director - Pharande Spaces
Source: PR Agency
8/08/2023 11:10:24 AM
Neutral Oberoi Realty Ltd For Target Rs.1,200 - Motilal Oswal Financial Services Ltd Oberoi Realty’s stock has surged 22% in the last three months (in line with Nifty Realty), given improved macro sentiments for the real estate sector post the rate hike pause in Apr’23 and continued demand momentum. In our recent note, we highlighted that FY24 is likely to be a big launch year for OBER with INR120b of launches planned in 2HFY24 and will lead to 74% growth in pre-sales in FY24. In order to sustain a healthy 15-20% growth rate, the company would have to add new proj...
Neutral Oberoi Realty Ltd For Target Rs.1,200 - Motilal Oswal Financial Services Ltd
Neutral Oberoi Realty Ltd For Target Rs.1,200 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
5/08/2023 11:32:42 AM