Motilal Oswal: Oberoi Realty - Some Recovery Visible With Arrival Of Festive Season
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Motilal Oswal Report
For FY21, we have broadly maintained our estimates for commercial office space and hospitality of Oberoi Realty Ltd. However, we have lowered our estimates for retail due to the delay in normal operation of malls.
Moreover, we are enthused by the pickup in residential segment, and thus, have revised our estimates on the upside by 53% for FY21.
Key highlights from management commentary:
- Sky City Phase II (Borivali) and Exquisite III (Goregaon) are expected to be launched by end-FY21.
- The company has aggressive plans to monetise its annuity assets (commercial and retail) by bringing in a strategic investor.
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