Motilal Oswal has given Buy recommendation for Oberoi Realty recommended buy rating on the stock with a target price of Rs 1200 in its research re with a target price of Rs. 1200 in its research report issued on Jan 31, 2022

Motilal Oswal’s research report on Oberoi Realty

Oberoi Realty (OBER) reported the highest ever quarterly sales in 3QFY22, driven by a) the successful launch of the second phase in Elysian (Goregaon) and b) a further pickup in sales velocity in the Borivali (Sky City) and JVLR (Maxima) projects. Occupancies in Commercial (Office + Retail) remained stable QoQ at 89%. While Hotel occupancies declined 12ppts QoQ, revenues were boosted by higher ARR. -The company commenced the profit recognition of 360 West, its Worli project, which led to a 101% YoY increase in PAT. On the back of earlier-than-expected recognition, we increase our FY22E PAT by 60% and correspondingly reduce the same for FY23E by 34%. We increase our pre-sales estimates by 3% for FY22. The company expects to launch its much-awaited Thane project in Feb’22.


Moreover, the receipt of the Occupancy Certificate (OC) for 360 West, Worli, is expected to boost pre-sales growth hereafter. We maintain our BUY rating on the stock, with an SoTP-based TP of INR1,200 (unchanged).

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At 17:30 Oberoi Realty was quoting at Rs 968.35, up Rs 52.75, or 5.76 percent.

It has touched an intraday high of Rs 974.35 and an intraday low of Rs 919.00.

It was trading with volumes of 77,831 shares, compared to its thirty day average of 43,687 shares, an increase of 78.16 percent.

In the previous trading session, the share closed up 2.36 percent or Rs 21.15 at Rs 915.60.

The share touched its 52-week high Rs 1,051.90 and 52-week low Rs 514.20 on 03 November, 2021 and 17 May, 2021, respectively.

Currently, it is trading 7.94 percent below its 52-week high and 88.32 percent above its 52-week low.

Market capitalisation stands at Rs 35,209.42 crore.

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