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The Print
4 days ago
- Business
- The Print
Nuvama initiates coverage with a ‘BUY' rating on AGI Infra (AGIIL) with a target price of Rs 1448
New Delhi [India], July 26: Nuvama initiates coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects. Operating in a market with limited branded competition, it has established a strong position and is strategically expanding into high-demand micro-markets across Punjab. With a robust development pipeline and a sizable, well-located land bank, it is well-positioned to capitalise on Punjab's growing housing demand. Our confidence in its long-term growth story is aided by a structurally buoyant home market. Report link: Key growth Drivers are highlighted below: CAGR of 13% over FY26-30E on the back of a strong launch pipeline of ~INR5,120cr (9.8msf) and ongoing inventory of ~INR1,280 (4.98msf); I. Strong demand for its product and further price realisation; II. In-house construction using its team of experts, coupled with the use of Mivan technology, which gives it an edge in terms of faster execution, on-time delivery, and boosts margin; III. Favourable dynamics in Punjab with lower inventory and limited supply by branded players; IV. Net cash surplus of INR2,060cr over FY26-32E (sans its land bank) led by pre-sales growth; V. With a large land parcel spread across diverse locations, where demand is high, it is ready for the future. We expect a net cash surplus of INR1,506cr and a healthier Balance Sheet led by strong collections and internal accruals (net D/E ratio to improve to -0.1x in FY27E from 0.2x as of March). It has ten/four ongoing/upcoming projects, with an inventory/saleable area of 4.98msf/9.8msf (GDV of ~INR1,280cr/~INR5,120cr). Well-diversified land reserves of ~12.2msf will be used for future development. We expect GDV of ~INR1,280/~INR5,400cr ongoing inventory/upcoming to be liquidated by FY30 and envisage a cash surplus of ~INR2,060cr from ongoing and upcoming projects. We see project additions once it launches most of its existing projects. We value AGIIL on its FY26E NAV considering its land reserves and ability to add projects aggressively in its existing micro-market given its brand value and improved Balance Sheet. Organised real estate players gain an edge in underserved Punjab micro-markets Its more than two decades of experience helps it stand out among Punjab's few organised players. Jalandhar and Ludhiana are among the fastest-growing realty markets in the region, with strong traction seen in recent years. We expect continued demand and price appreciation given: i) its luxury positioning, and ii) the presence of an affluent client base. Limited supply from organised players, better infrastructure, and rising aspirations are driving demand for branded residential projects. Proven execution and strategic Tier II presence backed by a diversified portfolio AGIIL's expertise lies in residential development, with a portfolio evenly balanced between luxury and affordable housing. This ensures access to a diversified client base and resilience across market cycles. It has delivered ~9msf across 10 successful projects in Jalandhar. It is expanding in key high-growth micro-markets in Tier II cities where demand is robust. Leveraging Mivan technology and in-house execution, it is ensuring faster project execution, greater durability, and reduced labour and overhead costs. With a sizeable land bank in Tier II cities and a proven execution track record, it is best placed to sustain margin and capitalise on rising demand for branded and quality housing across Punjab. Ongoing and upcoming projects total ~14.8msf; launches seen till FY30 It has significantly scaled up given: i) the favourable market dynamics, ii) timely delivery of premium projects, and iii) strong demand for completed projects, leading to healthy collections and efficient capital recycling via internal accruals. It has 10 ongoing projects (eight residential and a commercial and plot each) with an inventory of ~4.8msf. Four upcoming projects (residential/commercial: three/ one), with a saleable area/GDV of 9.8msf/~INR5,120cr, will be launched by FY30. We expect the entire ongoing inventory to get liquidated by FY28-end. Expect a cash surplus of ~INR2,060cr over FY26-32; Net debt to equity to decline -0.1x in FY27 We expect ongoing and upcoming residential projects to generate a gross/net cash flow of INR8,283cr/INR2,060cr over FY26-32. We foresee a net D/E ratio of -0.1x by FY27 from 0.5x as of FY25on healthy internal accruals. Recommend buy with TP of Rs 1,448 We recommend Buy with a target price of Rs1,448 (upside of 36%). Our Buy recommendation is drive by 1. Well located land bank 2. Experienced management 3. Strong execution 4. Strong demand 5. Healthy cash flows 6. Comfortable balance sheet 7. Attractive valuations. Expect healthy cash flows aided by: i) the development of land parcels, ii) strong brand positioning, and iii) price premium in Punjab. We discount cash flows to FY26 to arrive at a NAV of INR3,539cr with a TP of INR1,448. Maintain BUY. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same) This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
Business Standard
4 days ago
- Business
- Business Standard
Nuvama initiates coverage with a 'BUY' rating on AGI Infra (AGIIL) with a target price of Rs 1448
VMPL New Delhi [India], July 26: Nuvama initiates coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects. Operating in a market with limited branded competition, it has established a strong position and is strategically expanding into high-demand micro-markets across Punjab. With a robust development pipeline and a sizable, well-located land bank, it is well-positioned to capitalise on Punjab's growing housing demand. Our confidence in its long-term growth story is aided by a structurally buoyant home market. Report link: Key growth Drivers are highlighted below: CAGR of 13% over FY26-30E on the back of a strong launch pipeline of ~INR5,120cr (9.8msf) and ongoing inventory of ~INR1,280 (4.98msf); I. Strong demand for its product and further price realisation; II. In-house construction using its team of experts, coupled with the use of Mivan technology, which gives it an edge in terms of faster execution, on-time delivery, and boosts margin; III. Favourable dynamics in Punjab with lower inventory and limited supply by branded players; IV. Net cash surplus of INR2,060cr over FY26-32E (sans its land bank) led by pre-sales growth; V. With a large land parcel spread across diverse locations, where demand is high, it is ready for the future. We expect a net cash surplus of INR1,506cr and a healthier Balance Sheet led by strong collections and internal accruals (net D/E ratio to improve to -0.1x in FY27E from 0.2x as of March). It has ten/four ongoing/upcoming projects, with an inventory/saleable area of 4.98msf/9.8msf (GDV of ~INR1,280cr/~INR5,120cr). Well-diversified land reserves of ~12.2msf will be used for future development. We expect GDV of ~INR1,280/~INR5,400cr ongoing inventory/upcoming to be liquidated by FY30 and envisage a cash surplus of ~INR2,060cr from ongoing and upcoming projects. We see project additions once it launches most of its existing projects. We value AGIIL on its FY26E NAV considering its land reserves and ability to add projects aggressively in its existing micro-market given its brand value and improved Balance Sheet. Organised real estate players gain an edge in underserved Punjab micro-markets Its more than two decades of experience helps it stand out among Punjab's few organised players. Jalandhar and Ludhiana are among the fastest-growing realty markets in the region, with strong traction seen in recent years. We expect continued demand and price appreciation given: i) its luxury positioning, and ii) the presence of an affluent client base. Limited supply from organised players, better infrastructure, and rising aspirations are driving demand for branded residential projects. Proven execution and strategic Tier II presence backed by a diversified portfolio AGIIL's expertise lies in residential development, with a portfolio evenly balanced between luxury and affordable housing. This ensures access to a diversified client base and resilience across market cycles. It has delivered ~9msf across 10 successful projects in Jalandhar. It is expanding in key high-growth micro-markets in Tier II cities where demand is robust. Leveraging Mivan technology and in-house execution, it is ensuring faster project execution, greater durability, and reduced labour and overhead costs. With a sizeable land bank in Tier II cities and a proven execution track record, it is best placed to sustain margin and capitalise on rising demand for branded and quality housing across Punjab. Ongoing and upcoming projects total ~14.8msf; launches seen till FY30 It has significantly scaled up given: i) the favourable market dynamics, ii) timely delivery of premium projects, and iii) strong demand for completed projects, leading to healthy collections and efficient capital recycling via internal accruals. It has 10 ongoing projects (eight residential and a commercial and plot each) with an inventory of ~4.8msf. Four upcoming projects (residential/commercial: three/ one), with a saleable area/GDV of 9.8msf/~INR5,120cr, will be launched by FY30. We expect the entire ongoing inventory to get liquidated by FY28-end. Expect a cash surplus of ~INR2,060cr over FY26-32; Net debt to equity to decline -0.1x in FY27 We expect ongoing and upcoming residential projects to generate a gross/net cash flow of INR8,283cr/INR2,060cr over FY26-32. We foresee a net D/E ratio of -0.1x by FY27 from 0.5x as of FY25on healthy internal accruals. Recommend buy with TP of Rs 1,448 We recommend Buy with a target price of Rs1,448 (upside of 36%). Our Buy recommendation is drive by 1. Well located land bank 2. Experienced management 3. Strong execution 4. Strong demand 5. Healthy cash flows 6. Comfortable balance sheet 7. Attractive valuations. Expect healthy cash flows aided by: i) the development of land parcels, ii) strong brand positioning, and iii) price premium in Punjab. We discount cash flows to FY26 to arrive at a NAV of INR3,539cr with a TP of INR1,448. Maintain BUY.
The Wire
4 days ago
- Business
- The Wire
Nuvama initiates coverage with a ‘BUY' rating on AGI Infra (AGIIL) with a target price of Rs 1448
Nuvama initiates coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects. Operating in a market with limited branded competition, it has established a strong position and is strategically expanding into high-demand micro-markets across Punjab. With a robust development pipeline and a sizable, well-located land bank, it is well-positioned to capitalise on Punjab's growing housing demand. Our confidence in its long-term growth story is aided by a structurally buoyant home market. Report link: Key growth Drivers are highlighted below: 1. Pre-sales CAGR of 13% over FY26–30E on the back of a strong launch pipeline of ~INR5,120cr (9.8msf) and ongoing inventory of ~INR1,280 (4.98msf); 2. Strong demand for its product and further price realisation; 3. In-house construction using its team of experts, coupled with the use of Mivan technology, which gives it an edge in terms of faster execution, on-time delivery, and boosts margin; 4. Favourable dynamics in Punjab with lower inventory and limited supply by branded players; 5. Net cash surplus of INR2,060cr over FY26–32E (sans its land bank) led by pre-sales growth; 6. With a large land parcel spread across diverse locations, where demand is high, it is ready for the future. We expect a net cash surplus of INR1,506cr and a healthier Balance Sheet led by strong collections and internal accruals (net D/E ratio to improve to -0.1x in FY27E from 0.2x as of March). It has ten/four ongoing/upcoming projects, with an inventory/saleable area of 4.98msf/9.8msf (GDV of ~INR1,280cr/~INR5,120cr). Well-diversified land reserves of ~12.2msf will be used for future development. We expect GDV of ~INR1,280/~INR5,400cr ongoing inventory/upcoming to be liquidated by FY30 and envisage a cash surplus of ~INR2,060cr from ongoing and upcoming projects. We see project additions once it launches most of its existing projects. We value AGIIL on its FY26E NAV considering its land reserves and ability to add projects aggressively in its existing micro-market given its brand value and improved Balance Sheet. Organised real estate players gain an edge in underserved Punjab micro-markets Its more than two decades of experience helps it stand out among Punjab's few organised players. Jalandhar and Ludhiana are among the fastest-growing realty markets in the region, with strong traction seen in recent years. We expect continued demand and price appreciation given: i) its luxury positioning, and ii) the presence of an affluent client base. Limited supply from organised players, better infrastructure, and rising aspirations are driving demand for branded residential projects. Proven execution and strategic Tier II presence backed by a diversified portfolio AGIIL's expertise lies in residential development, with a portfolio evenly balanced between luxury and affordable housing. This ensures access to a diversified client base and resilience across market cycles. It has delivered ~9msf across 10 successful projects in Jalandhar. It is expanding in key high-growth micro-markets in Tier II cities where demand is robust. Leveraging Mivan technology and in-house execution, it is ensuring faster project execution, greater durability, and reduced labour and overhead costs. With a sizeable land bank in Tier II cities and a proven execution track record, it is best placed to sustain margin and capitalise on rising demand for branded and quality housing across Punjab. Ongoing and upcoming projects total ~14.8msf; launches seen till FY30 It has significantly scaled up given: i) the favourable market dynamics, ii) timely delivery of premium projects, and iii) strong demand for completed projects, leading to healthy collections and efficient capital recycling via internal accruals. It has 10 ongoing projects (eight residential and a commercial and plot each) with an inventory of ~4.8msf. Four upcoming projects (residential/commercial: three/ one), with a saleable area/GDV of 9.8msf/~INR5,120cr, will be launched by FY30. We expect the entire ongoing inventory to get liquidated by FY28-end. Expect a cash surplus of ~INR2,060cr over FY26–32; Net debt to equity to decline -0.1x in FY27 We expect ongoing and upcoming residential projects to generate a gross/net cash flow of INR8,283cr/INR2,060cr over FY26–32. We foresee a net D/E ratio of -0.1x by FY27 from 0.5x as of FY25on healthy internal accruals. Recommend buy with TP of Rs 1,448 We recommend Buy with a target price of Rs1,448 (upside of 36%). Our Buy recommendation is drive by 1. Well located land bank 2. Experienced management 3. Strong execution 4. Strong demand 5. Healthy cash flows 6. Comfortable balance sheet 7. Attractive valuations. Expect healthy cash flows aided by: i) the development of land parcels, ii) strong brand positioning, and iii) price premium in Punjab. We discount cash flows to FY26 to arrive at a NAV of INR3,539cr with a TP of INR1,448. Maintain BUY. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI This is an auto-published feed from PTI with no editorial input from The Wire.
Rakyat Post
23-07-2025
- Rakyat Post
Insurance Agent Falls Victim To Online Gambling Scam, Faces Extortion And Home Harassment
Subscribe to our FREE A 34-year-old insurance agent has become the target of an elaborate online gambling scam that escalated to physical harassment at his family home,. It all started after he rejected a single unsolicited phone call promoting illegal gambling websites. Danny Tan Wee Mun detailed his ordeal in a Facebook video and police report, describing how the brief phone call spiralled into months of extortion attempts and threats. The incident began on 9 May at around 5 pm when Tan received a cold call at his office. The caller attempted to promote an illegal online gambling website, offering VIP privileges for betting. Tan immediately rejected the offer and ended the call. 'I told them I wasn't interested and hung up immediately,' he said in an interview with The Fabricated Debt: Manufacturing Evidence Out of Thin Air Despite his rejection, Tan began receiving WhatsApp messages claiming that gambling accounts had been opened in his name. He ignored these messages completely, having never participated in any gambling activities. On 3 July, the situation escalated when scammers sent him a fabricated 'win-lose report' claiming he had used RM300 in promotional credit and lost over RM2,280, demanding repayment. I found it completely absurd because I never gambled online, so I blocked that number immediately. The following day, he received threatening messages from another number, with the sender claiming to have detailed personal information about him and his family, threatening to visit his workplace if he didn't pay. Physical Harassment at Family Home The most disturbing escalation occurred last Sunday (20 July). The criminal group sent people to harass Tan's parents at their home in Bandar Tun Hussein Onn, Cheras. My mother called me saying our front gate was covered with many white papers containing my photo, my identity card number, my father's identity card number, our home address, and family phone numbers. The papers carried threatening messages stating 'pay your debts' and 'next time we'll splash paint,' with similar flyers posted on neighbours' doors as well. Tan has since filed a police report at the Bandar Tun Hussein Onn police station. Breaking the Silence: Why One Victim Refused to Pay Fake Debts Tan emphasised that neither he nor his family members have ever been involved in gambling activities or borrowed money from loan sharks. In his Facebook video, Tan stated firmly: 'I, Tan Wee Mun, want to clarify once and for all – I have never played, clicked, entered, or participated in any online gambling website activities. I am truly speechless about such false accusations and fraudulent methods.' He urged the public not to compromise with such extortion tactics, warning that giving in would only encourage these criminal groups to continue their illegal activities. 'This is like Malaysia has no laws at all!' he said, expressing anger and fear over how the criminal group obtained detailed personal information about his family. READ MORE : READ MORE : READ MORE : Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
The Sun
17-07-2025
- The Sun
PGA raids Batu Gajah factory, seizes RM10 mln in illegal aluminium
BATU GAJAH: The General Operations Force (PGA) uncovered an illegal aluminium processing operation in the Pengkalan 4 Industrial Area, Pusing, seizing 1,221.3 tonnes of the metal valued at nearly RM10 million. The raid, conducted yesterday evening, involved multiple enforcement agencies. PGA Northern Brigade Deputy Commander ACP Shamsul Baharin Aman confirmed the operation was a joint effort between the 3rd Battalion PGA Intelligence Unit, Northern Brigade Headquarters, and the 1st Battalion PGA, supported by the Perak Department of Environment (DOE) and Batu Gajah District Council. Authorities found the factory operating without a valid licence under the Environmental Quality Act 1974. 'The premises contained a significant amount of aluminium, along with processing machinery and a lorry engine,' Shamsul Baharin said. A 37-year-old factory manager was detained for questioning. The total seizure, including equipment, was estimated at RM11,812,280. Investigations revealed the facility had been operational since 2023, employing 10 workers to process and export metal materials. Perak DOE director Datuk Dr Mohammad Ezanni Mat Salleh confirmed the seized aluminium falls under scheduled waste code SW 422, which prohibits unlicensed handling of metal-solvent mixtures. - Bernama
