External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>Sunteck is a leading real estate developer in India, with a focus on Mumbai residential projects.</li><li>The company operates in a branded segment known for project delays and customer deposit issues, but Sunteck's strong brand reputation sets it apart.</li><li>Sunteck's asset-lite approach and profitable partnerships with landowners make it a promising investment opportunity in the growing Mumbai real estate market.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Sunteck is a leading real estate developer in India, with a focus on Mumbai residential projects.The company operates in a branded segment known for project delays and customer deposit issues, but Sunteck's strong brand reputation sets it apart.Sunteck's asset-lite approach and profitable partnerships with landowners make it a promising investment opportunity in the growing Mumbai real estate market.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Prabhudas Lilladher's research report onSunteck Realty Sunteck Reality (SRIN) reported healthy pre-sales of Rs. 6.8bn; increased 26% YoY and 49% QoQ.</li><li>Collections almost double QoQ adjusted for treasury security sale in Q3.</li><li>SRIN’s proven ability to market ultra-luxury projects, aggressive and multi-pronged land acquisition capabilities in various micro markets across Mumbai Metropolitan Region (MMR) is an interesting play on Mumbai’s high value real estate market.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Prabhudas Lilladher's research report onSunteck Realty Sunteck Reality (SRIN) reported healthy pre-sales of Rs. 6.8bn; increased 26% YoY and 49% QoQ.Collections almost double QoQ adjusted for treasury security sale in Q3.SRIN’s proven ability to market ultra-luxury projects, aggressive and multi-pronged land acquisition capabilities in various micro markets across Mumbai Metropolitan Region (MMR) is an interesting play on Mumbai’s high value real estate market.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Sunteck Realty - Naigaon Project Revenue Recognition Aided Profitability

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Kolte Patil Developers / Equity Bottom-Up

<div>
<p>Residential real estate sector in India presents a decadal opportunity led by the shift to Organized from Unorganized. Our top pick in the space is <a href="https://www.smartkarma.com/entities/kolte-patil-developers-ltd" target="_blank" data-smartkarma-citation="entities:6819:1" rel="noopener">Kolte Patil Developers (KPDL IN)</a>, a branded developer based out of Pune.</p>
<div id="annotable-executive_summary-1"><em>For detailed thematic insights into the changing landscape of residential real estate development in India, please refer to our insight: <a href="https://www.smartkarma.com/insights/a-fat-theme-organized-real-estate-developers-in-india-a-decadal-opportunity" target="_blank" data-smartkarma-citation="insights:56658" rel="noopener">A Fat Theme | Organized Real Estate Developers in India - A Decadal Opportunity</a>.</em></div>
</div>


Residential real estate sector in India presents a decadal opportunity led by the shift to Organized from Unorganized. Our top pick in the space is Kolte Patil Developers (KPDL IN), a branded developer based out of Pune.
For detailed thematic insights into the changing landscape of residential real estate development in India, please refer to our insight: A Fat Theme | Organized Real Estate Developers in India - A Decadal Opportunity.


Kolte Patil: A Fat Bet on Booming Residential Real Estate in India

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

<p>Sunteck Realty (SRIN) has announced a new residential project acquisition of<br>10msf in Shahad, located in Mumbai Metropolitan Region’s (MMR) extended<br>Eastern suburbs. The project has been acquired under the asset light JDA model<br>in which SRIN may have 75-80% revenue share. Assuming development over<br>FY24-35E, we estimate gross revenue of Rs91.2bn (SRIN share at Rs72.6bn) with<br>pre-tax operating surplus of Rs26.6bn and NAV accretion of Rs14.4bn<br>(Rs103/share). We maintain our BUY rating on SRIN with a revised target price of<br>Rs580/share (earlier Rs475) based on 1x NAV incorporating the new Shahad<br>acquisition.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Sunteck Realty (SRIN) has announced a new residential project acquisition of 10msf in Shahad, located in Mumbai Metropolitan Region’s (MMR) extended Eastern suburbs. The project has been acquired under the asset light JDA model in which SRIN may have 75-80% revenue share. Assuming development over FY24-35E, we estimate gross revenue of Rs91.2bn (SRIN share at Rs72.6bn) with pre-tax operating surplus of Rs26.6bn and NAV accretion of Rs14.4bn (Rs103/share). We maintain our BUY rating on SRIN with a revised target price of Rs580/share (earlier Rs475) based on 1x NAV incorporating the new Shahad acquisition.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shahad project: Another feather in the cap

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

RL Commercial REIT / Equity Capital Markets

<div>
<p>RL Commercial REIT (RREIT), sponsored by Robinsons Land Corporation (RLC), raised around US$427m in its Philippines listing. </p>
</div>
<div>
<p>RREIT is a commercial REIT and its initial portfolio will consist of 14 PEZA-accredited commercial real estate properties located in CBDs across Metro Manila and key cities outside Metro Manila, namely, Naga, Tarlac, Cebu and Davao. </p>
</div>
<div>
<p>We have looked at various aspects of the REIT in our previous notes:</p>
</div>
<div>
<ul style="list-style-type: disc;">
<li dir="ltr" aria-level="1">
<p><a href="https://www.smartkarma.com/insights/rl-commercial-reit-pre-ipo-motley-crew-of-assets-has-weathered-covid-well" target="_blank" rel="noopener">RL Commercial REIT Pre-IPO - Motley crew of assets has weathered COVID well</a></p>
</li>
<li dir="ltr" aria-level="1">
<p><a href="https://www.smartkarma.com/insights/rl-commercial-reit-and-mreit-peer-comparison-one-is-much-better-shape" target="_blank" rel="noopener">RL Commercial REIT and MREIT peer comparison - One is in a much better shape</a></p>
</li>
<li dir="ltr" aria-level="1"><a href="https://www.smartkarma.com/insights/rl-commercial-reit-ipo-needs-to-come-at-a-discount" target="_blank" rel="noopener">RL Commercial REIT IPO - Needs to Come at a Discount</a></li>
</ul>
<p>In this note, we will talk about the trading dynamics.</p>
</div>


RL Commercial REIT (RREIT), sponsored by Robinsons Land Corporation (RLC), raised around US$427m in its Philippines listing. 


RREIT is a commercial REIT and its initial portfolio will consist of 14 PEZA-accredited commercial real estate properties located in CBDs across Metro Manila and key cities outside Metro Manila, namely, Naga, Tarlac, Cebu and Davao. 


We have looked at various aspects of the REIT in our previous notes:




RL Commercial REIT Pre-IPO - Motley crew of assets has weathered COVID well


RL Commercial REIT and MREIT peer comparison - One is in a much better shape

RL Commercial REIT IPO - Needs to Come at a Discount

In this note, we will talk about the trading dynamics.


RL Commercial REIT IPO Trading - Adequately Priced

India

Sunteck Realty Ltd. develops real estate.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sunteck Realty (SRIN IN)

Sunteck (SRIN) - Wednesday, Jun 12, 2024

Sunteck's asset-lite approach and profitable partnerships with landowners make it a promising investment opportunity in the growing Mumbai real...

Value Investors Club

Sunteck Realty - Naigaon Project Revenue Recognition Aided Profitability

Prabhudas Lilladher's research report onSunteck Realty Sunteck Reality (SRIN) reported healthy pre-sales of Rs. 6.8bn; increased 26% YoY and 49% QoQ.

Prabhudas Lilladhar

Kolte Patil: A Fat Bet on Booming Residential Real Estate in India

Business development activity, pace of execution and new launches are at all time high, leading to all-time high sales velocity. The stock has...

Ankit Agrawal, CFA

Shahad project: Another feather in the cap

Sunteck Realty (SRIN) has announced a new residential project acquisition of<br />10msf in Shahad, located in Mumbai Metropolitan Region’s (MMR)...

ICICI Securities Limited

RL Commercial REIT IPO Trading - Adequately Priced

RL Commercial REIT, sponsored by Robinsons Land Corporation (RLC), raised around US$427m in its Philippines listing. RREIT is a commercial REIT...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)