HDFC Securities: Oberoi Realty’s Recovery Momentum To Continue Post Q2
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HDFC Securities Report
Oberoi Realty Ltd. surprised positively as pre-sales volume recovered to 93% of Q2 FY20 level.
Booking value also rebounded to Rs 3.3 billion during the quarter (versus 3.2 billion in Q2 FY20) on higher realisation.
We expect the momentum to continue for the company, given the stamp duty cut, low-interest rate, strong brand recognition and market consolidation.
Residential launches remain on track in Borivali, Goregaon and Thane.
Besides, the company is mulling a platform to unlock value from existing commercial office space.
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