Nomura has reiterated its Buy rating on Macrotech Developers with a target price of ₹1,450, implying a potential upside of 5.4% from the current market price of ₹1,376.00. While the company’s Q1FY26 pre-sales growth came in at 10% year-on-year—below its full-year target of 20%—Nomura remains optimistic on its ability to meet overall guidance.
The company reported business development of ₹22,700 crore during the first quarter, already accounting for more than 90% of its FY26 guidance. Nomura believes this strong start has helped the company significantly strengthen its launch pipeline for the current fiscal year.
Given the early execution success, the brokerage expects Macrotech to stay on track to achieve its FY26 pre-sales target of ₹21,000 crore. It also sees Macrotech’s operational momentum and strategic focus as key factors that support continued growth in the residential real estate segment.
Disclaimer: The views expressed above are those of Nomura and do not constitute investment advice. This article is for informational purposes only.