Motilal Oswal: Oberoi Realty Q1; Covid-19 Dents Near-Term Outlook

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Oberoi Realty’s portfolio is heavily concentrated in the Mumbai Metropolitan Region, one of the worst affected regions in India due to the Covid-19 pandemic. Thus, we have lowered our estimates for residential, retail and hospitality segments for financial year 2021; however, we have broadly maintained estimates for the commercial office space. Despite the current challenges, OBER’s balance sheet strength gives us comfort. Maintain Buy with a revised Target Price of Rs 444.Revenue was down 80.4% YoY to Rs 1,180 million versus estimated Rs 4,049 million. EBITDA declined 75.4% YoY to Rs 579 million versus estimated Rs 1,518 million. However, EBITDA margins expanded 1,010 basis point to 49.1% (v/s est. 37.5%).Adj. Profit after Tax declined 82% YoY to Rs 281 million (v/s est. Rs 979million).Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Oberoi Realty Q1; Covid-19 Dents Near-Term Outlook

Motilal Oswal: Oberoi Realty Q1; Covid-19 Dents Near-Term Outlook

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