This Mahindra Group Stock Can Surge 45%, Feels Motilal Oswal
Mahindra Lifespaces recommends a buy rating on the stock with a target price of Rs 550, a potential to give 45% based on its estimates in the coverage report.
Mahindra Lifespace Developers Ltd, part of Mahindra Group, is one of the leading real estate players in the country and has continued its strong growth progress.
Mahindra Lifespace reported bookings of Rs 4.5 billion, up 80% YoY and 13% QoQ, driven by strong response to 1 .1 meter square feet of launches.
For 9 MFY 23, pre- sales doubled to Rs 14.5 billion and is already 40% higher than FY 22 run- rate.
Collections declined by 35% on a high base to Rs 3 billion, but was largely in line with 2 QFY 23 numbers.
Outlook: Buy Mahindra Lifespaces, with a target price of Rs 550
Mahindra Llifespaces is Rs 6,130.17 crore and current market price per share is Rs 394.50, at an intraday rise of 4 .56%.
The market capiatlisation of is Rs 554.55 per share, you would have earned 51 .85 % return by now.
The stock has been picked from the brokerage report of Motilal Oswal, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. advises users to consult with certified experts before making any investment decision.
By Aditi Murkute Goodreturns source: Dailyhunt