Real Estate, Infra Q4 Results Preview - Order Inflows Witness Uptick For EPC Companies: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.New order inflows witnessed a healthy trend in Q4 FY23. We expect decent execution for construction companies on a YoY basis. For real estate companies, sales volume growth is likely to be healthy, led by launches. The commercial leasing as well as malls and hospitality segment will be robust, with consumption remaining healthy. According to Anarock, real estate sales across India’s top seven markets recorded YoY growth of ~14% during Q4 FY23 at 113770 units. We anticipate residential sales momentum will remain healthy amid sustained demand and new launch offtake and despite rate hikes. However, the trend will be mixed led by respective player new launch momentum. For Brigade Enterprises Ltd., we expect sales volumes to be up 16% YoY, 17% QoQ at 18 lakh square feet, driven by strong offtake from launches during the quarter. The sales value at ~ Rs 1186 crore is likely to be up ~15% YoY. With no major launch during Q4, we expect Oberoi Realty Ltd. to clock sales bookings of ~3.9 lakh sqft area during Q4 FY23, down ~25% QoQ with sales value of ~Rs 880 crore. The mall activity has been strong with Phoenix Mills Ltd.’ witnessing ~13% YoY growth in consumption in March. Hospitality is likely to show a strong recovery with occupancies firm and average room rates inching up. For Kajaria Ceramics Ltd., we expect tiles sales volumes to witness muted growth of ~2% YoY on a high base and amid soft demand. We expect overall revenues to grow ~3.9% YoY to Rs 1144 crore. We expect Ebitda margins of 14%, up 180 basis points QoQ, on account of lower gas prices and alternate fuel use..Click on the attachment to read the full report:.Infra-Road Q4 Results Preview - Better Execution Drives Growth; Outlook Remains Positive: Axis Securities.DISCLAIMERThis report is authored by an external party. BQ Prime 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 author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Real Estate, Infra Q4 Results Preview - Order Inflows Witness Uptick For EPC Companies: ICICI Direct

Real sales volumes trend to be mixed bag.

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