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Motilal Oswal Report
While Oberoi Realty Ltd. has set ambitious sales targets for 360-West, we for now retain our FY23 pre-sales estimates at Rs 48 billion with contribution of Rs 7.5 billion coming from 360-West. We will closely monitor the pick-up in sales and pricing trajectory for the project from hereon and revise our estimates accordingly.
Apart from sustenance of high sales velocity in 360-West, we see multiple rerating triggers in Oberoi Realty including-
the launch of Thane project and customer response to the same,
new project additions in its core markets of Mumbai Metropolitan Region and
entry into newer markets of National Capital Region as reported by media.
We believe healthy cash generation will provide a lot of comfort to the company in seeking aggressive business development opportunities that will provide further growth visibility.
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