Arihant Capital has given Buy recommendation for Arihant Superstructures with a target price of Rs. 259 in its research report issued on Feb 01, 2022

Arihant Capital’s research report on Arihant Superstructures

Arihant Superstructures Ltd (ASL) is a real estate company focusing on the affordable housing with significant presence in the MMR region and Jodhpur, Rajasthan. The Arihant group has delivered 9,500+ homes measuring 8 Mn sq.ft. across 59 projects over the past 2 decades. As on Q3FY22, the affordable & mid income segment constitutes about ~96% of the Company’s portfolio (affordable ~61% and mid income ~35%). The remaining ~4% comes from the high Income group. The companys projects are spread across the MMR Region (Maharastra) and Jodhpur (Rajashtan). MMR Region regions accounts for ~78% РTaloja/ Khargar (~28%), Panvel (~26%), Vashi (~4%) and outer MMR ~20%. The remaining ~22% comes from JodhpurRajasthan regions as on Q3FY22.

Outlook

We initiate coverage with a BUY rating at a Target Price of INR 259 per share; an upside of 46.3%.

More Info on Trent

At 17:30 Arihant Superstructures was quoting at Rs 176.20, down Rs 7.45, or 4.06 percent.

It has touched an intraday high of Rs 182.00 and an intraday low of Rs 168.90.

It was trading with volumes of 95,956 shares, compared to its thirty day average of 78,321 shares, an increase of 22.52 percent.

In the previous trading session, the share closed down 1.13 percent or Rs 2.10 at Rs 183.65.

The share touched its 52-week high Rs 206.00 and 52-week low Rs 33.05 on 09 December, 2021 and 25 March, 2021, respectively.

Currently, it is trading 13.2 percent below its 52-week high and 441 percent above its 52-week low.

Market capitalisation stands at Rs 725.24 crore.

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