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>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.

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), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

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.<div class="content-highlight">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.</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

India

Sunteck Realty Ltd. develops real estate.

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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

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

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