Nomura has reiterated its Buy rating on Macrotech Developers, setting a target price of ₹1,600, which implies a potential upside of 45% from the current market price of ₹1,104.95. While Q2FY25 was solid, Nomura anticipates an even stronger performance in the second half of FY25, driven by three primary factors: pre-sales growth, operating cash flow (OCF) generation, and enhanced revenue recognition.
Nomura also highlighted Macrotech’s focus on the premiumization of its Palava township, indicated by higher land transaction prices in the area. The company’s transition from a pilot to a growth phase in Bangalore and the growing visibility of its annuity portfolio further underscore its strategic shift toward higher-value segments.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to perform their due diligence before making investment decisions.
