6 Stocks From The Real Estate Sector To Buy Where Sharekhan Is Positive

Sharekhan has come-up with its latest report on the real estate sector, where the firm is positive on many stocks and has set buy targets, following the first quarterly results. Here are a list of 7 stocks from the space, where the firm is positive.

Purvankara Ltd

Sharekhan has a target price of Rs 124, as against the current market price of Rs 103, thus leaving an upside potential of nearly 20% on the stock.

"We retain our net earnings estimates for FY2023-FY2024. Puravankara is well-poised to benefit from an uptick in the realty market with a strong launch pipeline, de-leveraged balance sheet, huge paid-up land bank and credible management bandwidth," the brokerage firm has said.

Prestige Estates

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

"We retain our net earnings estimates for FY2023-FY2024. Prestige Estates is well-positioned to benefit from strong traction in the residential real estate market owing to its leadership positioning in Bengaluru and positive response garnered in key markets such as Mumbai and Hyderabad," the brokerage firm has said.

DLF

Sharekhan is positive on the stock of DLF, which is a robust player in the Delhi NCR region. The firm has set a price target of Rs 471 on the stock, as against the current market price of Rs 377.

"We have fine-tuned our estimates for FY2023-FY2024. DLF's strong leadership position in Delhi-NCR, strong residential project pipeline, increasing rental portfolio, large land reserves at low carrying costs, and strong housing market tailwinds provide a high-growth opportunity," the brokerage has said.

Arihant Superstructures

Sharekhan believes that affordable housing tailwinds should benefit a player like Arihant Superstructures. "We retain our estimates for FY2023-FY2024. Arihant Superstructures leading position in MMR, especially in the affordable housing segment, places it in a sweet spot to benefit from strong affordable housing market tailwinds," the brokerage has said. The shares were last trading at Rs 189, which receives very little upside on Sharekhan's target price of Rs 200.

Oberoi Realty

This Mumbai based real estate company is another stock, where Sharekhan has maintained its positive stance. "We retain our estimates. Oberoi Realty is slated to benefit from strong traction in the residential realty segment especially in lucrative MMR region, which is expected to sustain going ahead," the brokerage has said. The shares of the company were last seen trading at Rs 964, as against a target price of Rs 1050.

Macrotech Developers

The brokerage is also positive on Macrotech developers. "We retain our estimates for FY2023-FY2024E. Macrotech continues to be on track on achieving its pre-sales, new project additions and net debt reduction targets for FY2023," the brokerage has said.

Disclaimer

The above stocks were picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

Corrigendum:

The article earlier mentioned that the report was picked from IDBI Capital. We wish to inform, the name was a mistake and IDBI Capital Markets is in no way connected to the above recommendations. The error is regretted.