Sharekhan has given Buy recommendation for Mahindra Lifespace Developers with a target price of Rs. 655 in its research report issued on Mar 05, 2021
Sharekhan’s research report on Mahindra Lifespace Developers
MLDL has formed a formidable core management team over a year having credible experience from leading real estate firms to boost sales and execution. The company targets to achieve pre-sales target of over Rs. 2,000 crore per year over the next two to three years from Rs. 500 crore to Rs. 1,100 crore range during FY2016-FY2020. The company’s low gearing is likely to aid in land acquisitions.The company is likely to benefit from the government’s affordable housing focus, inorganic opportunities, and favourable state government’s policies to name a few.
We re-initiate coverage on Mahindra Lifespace Developers Limited (MLDL) with a Buy rating and price target of Rs. 655, owing to high discount to NAV and strong growth outlook.