6 real estate stocks to buy when Sharekhan is positive

Purvankara Ltd

Sharekhan has a price target of Rs.124 versus the current market price of Rs.103, leaving the stock with upside potential of almost 20%.

“We maintain our net income estimates for fiscal year 2023-2024. Puravankara is well positioned to benefit from an upturn in the real estate market with a strong launch pipeline, a delevered balance sheet, a huge paid-in land bank and credible management breadth.” This was announced by the brokerage firm.

Prestige Real Estate

Prestige Real Estate

This is another stock where the brokerage is taking a positive stance. Prestige Estates is a top real estate company especially in the city of Bangalore. The brokerage firm has set a price target of Rs.546 versus the current market price of Rs.463.

“We maintain our net income estimates for fiscal year 2023-2024. Prestige Estates is well positioned to benefit from strong traction in the residential real estate market thanks to its leadership position in Bengaluru and positive reception in key markets such as Mumbai and Hyderabad,” the shared brokerage firm with.

DLF

DLF

Sharekhan is bullish on the stock of DLF, a resilient player in the Delhi NCR region. The company has set a price target of Rs.471 for the stock versus the current market price of Rs.377.

“We have refined our estimates for fiscal years 2023 to 2024. DLF’s strong leadership position in Delhi-NCR, strong pipeline of residential projects, growing rental portfolio, large land reserves at low holding costs and strong tailwinds in the housing market present an opportunity for high growth,” the broker shared.

    Arihant superstructures

Arihant superstructures

Sharekhan believes the tailwind for affordable housing should benefit a player like Arihant Superstructures. “We maintain our estimates for fiscal year 2023-2024. Arihant Suprastructures’ leadership position in MMR, particularly in the affordable housing segment, puts the company in an ideal position to benefit from strong tailwinds in the affordable housing market,” the brokerage firm said. Shares last traded at Rs.189, which offers very little upside compared to Sharekhan’s Rs.200 price target.

Oberoi real estate

Oberoi real estate

This Mumbai-based real estate company is another stock where Sharekhan has maintained a positive stance. “We maintain our estimates. Oberoi Realty is expected to benefit from the strong traction in the residential real estate segment, particularly in the lucrative MMR region, which is expected to continue to advance,” the broker said. The company’s shares were last trading at Rs.964 versus a target price of Rs.1050.

Macrotech developer

Macrotech developer

The placement is also positive for Macrotech developers. “We maintain our estimates for fiscal years 2023 to 2024E. Macrotech remains on track to meet its pre-sale targets, addition of new projects and reduction in net debt for fiscal 2023,” the broker said.

Disclaimer

Disclaimer

The above stocks were selected from IDBI Capital’s broker report. Investing in stocks involves risk of financial loss. Investors must therefore exercise due caution. Greynium Information Technologies, the author and the brokerage house will not be held responsible for any loss arising from decisions made based on the article.

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