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Economic Times
2 days ago
- Business
- Economic Times
Buy Kolte-Patil Developers, target price Rs 480: HDFC Securities
Agencies Kolte-Patil Developers' key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Land and Scrap for the year ending 31-Mar-2023. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 723.20 crore, up 95.84% from last quarter Total Income of Rs 369.28 crore and up 37.04% from last year same quarter Total Income of Rs 527.71 crore. The company has reported net profit after tax of Rs 65.32 crore in latest quarter. The company's top management includes Patil, Navandar, Vanvari, Pendse, Watve, Joshi, Gurav, Patil, Kolte, Kolte, Patil, Patil, Barve. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 8 crore shares outstanding. Live Events Investment Rationale Kolte-Patil Developers reported a decent quarter with presales of 0.8msf (-22.3%/-1.2% YoY/QoQ), valued at Rs 6.3 billion (-15.1%/-7.2% YoY/QoQs), translating to an average realisation of Rs 7,888 psf (+9.3%/-6.0% YoY/QoQ). In FY25, KPDL launched projects worth Rs 40 billion (vs guidance of Rs 50 billion), with the miss largely attributable to approval delays and project phasing. We expect the Life Republic (LR) project to sustain its salesmomentum and strong cash flows, further improving the margin through better realizations. KPDL is also reassessing its launch pipeline strategy, while the pending Blackstone transaction signals the potential for future partnerships. The proactive management and expansion position the company for sustained growth. With strong cash flows, KPDL is a net cash positive company with comfortable liquidity. This may also pave the way for accelerated business development (BD) activity. Given strong BD and better than-expected price realisations (5-10% increase), HDFC Securities maintains BUY with a target price of Rs 480/share. Promoter/FII Holdings Promoters held 69.45 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.15 per cent, DIIs 5.59 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel HDFC Securities has a Buy call on Kolte-Patil Developers with a target price of Rs 480. The current market price of Kolte-Patil Developers is Rs 407.55. Kolte-Patil Developers, incorporated in 1991, is a Small Cap company with a market cap of Rs 3089.58 crore, operating in Real Estate Developers' key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Land and Scrap for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 723.20 crore, up 95.84% from last quarter Total Income of Rs 369.28 crore and up 37.04% from last year same quarter Total Income of Rs 527.71 crore. The company has reported net profit after tax of Rs 65.32 crore in latest company's top management includes Patil, Navandar, Vanvari, Pendse, Watve, Joshi, Gurav, Patil, Kolte, Kolte, Patil, Patil, Barve. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 8 crore shares Developers reported a decent quarter with presales of 0.8msf (-22.3%/-1.2% YoY/QoQ), valued at Rs 6.3 billion (-15.1%/-7.2% YoY/QoQs), translating to an average realisation of Rs 7,888 psf (+9.3%/-6.0% YoY/QoQ). In FY25, KPDL launched projects worth Rs 40 billion (vs guidance of Rs 50 billion), with the miss largely attributable to approval delays and project phasing. We expect the Life Republic (LR) project to sustain its salesmomentum and strong cash flows, further improving the margin through better realizations. KPDL is also reassessing its launch pipeline strategy, while the pending Blackstone transaction signals the potential for future partnerships. The proactive management and expansion position the company for sustained growth. With strong cash flows, KPDL is a net cash positive company with comfortable liquidity. This may also pave the way for accelerated business development (BD) activity. Given strong BD and better than-expected price realisations (5-10% increase), HDFC Securities maintains BUY with a target price of Rs 480/ held 69.45 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.15 per cent, DIIs 5.59 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Economic Times
2 days ago
- Business
- Economic Times
HDFC Securities upgrades JK Cement to Add, revises target price to Rs 5,740
HDFC Securities has upgraded JK Cement to Add from Reduce earlier with a revised target price of Rs 5,740. The current market price of JK Cement is Rs 5444.0. JK Cement, incorporated in 1994, is a Mid Cap company with a market cap of Rs 42134.38 crore, operating in the cement sector. ADVERTISEMENT JK Cement's key products/revenue segments include Cement and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3627.06 crore, up 21.92% from last quarter Total Income of Rs 2974.83 crore and up 15.09% from last year same quarter Total Income of Rs 3151.45 crore. The company has reported net profit after tax of Rs 361.39 crore in the latest quarter. The company's top management includes Devi Singhania, Mahajan, Jalan, Sinha, Kumar Sharma, Gopalan Wadhwa, Chandra, Heinz Hugentobler, Aggarwal, Kumar Saraogi, Singhania, Singhania, Singhania, Sethi. Company has S R Batliboi & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 8 crore shares outstanding. Investment Rationale HDFC Securities has upgraded its rating on JK Cement to ADD from Reduce earlier, with a revised target price of Rs 5,740/sh (15x Mar-27E consolidated EBITDA). Their positive stance is driven by JK Cement's continued outperformance on both volumes and margin front. The brokerage estimates JK will continue to deliver industry leading 11% consolidated volume CAGR during FY25-27E and the blended unit EBITDA of Rs 1,191/1,275 per MT. These should drive up its RoE/ROCE to 19/17% in FY27E and net debt/EBITDA should cool off to 1.2x in FY27E, thus supporting its valuation multiple rerating. In Q4FY25. JK Cement delivered all-round performance ? strong traction in the grey cement drove up consolidated volume by 16% YoY and blended unit EBITDA increased to Rs 1,267 (Rs 263/MT QoQ). JK Cement lso tightened its operations, leading to negative non-cash working capital, bringing net debt to EBITDA to 2x in Mar-25E. Promoter/FII Holdings Promoters held 45.68 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.14 per cent, DIIs 24.5 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
2 days ago
- Business
- Time of India
HDFC Securities upgrades JK Cement to Add, revises target price to Rs 5,740
HDFC Securities has upgraded JK Cement to Add from Reduce earlier with a revised target price of Rs 5,740. The current market price of JK Cement is Rs 5444.0. JK Cement, incorporated in 1994, is a Mid Cap company with a market cap of Rs 42134.38 crore, operating in the cement sector. JK Cement's key products/revenue segments include Cement and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3627.06 crore, up 21.92% from last quarter Total Income of Rs 2974.83 crore and up 15.09% from last year same quarter Total Income of Rs 3151.45 crore. The company has reported net profit after tax of Rs 361.39 crore in the latest quarter. The company's top management includes Devi Singhania, Mahajan, Jalan, Sinha, Kumar Sharma, Gopalan Wadhwa, Chandra, Heinz Hugentobler, Aggarwal, Kumar Saraogi, Singhania, Singhania, Singhania, Sethi. Company has S R Batliboi & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 8 crore shares outstanding. Live Events Investment Rationale HDFC Securities has upgraded its rating on JK Cement to ADD from Reduce earlier, with a revised target price of Rs 5,740/sh (15x Mar-27E consolidated EBITDA). Their positive stance is driven by JK Cement's continued outperformance on both volumes and margin front. The brokerage estimates JK will continue to deliver industry leading 11% consolidated volume CAGR during FY25-27E and the blended unit EBITDA of Rs 1,191/1,275 per MT. These should drive up its RoE/ROCE to 19/17% in FY27E and net debt/EBITDA should cool off to 1.2x in FY27E, thus supporting its valuation multiple rerating. In Q4FY25. JK Cement delivered all-round performance ? strong traction in the grey cement drove up consolidated volume by 16% YoY and blended unit EBITDA increased to Rs 1,267 (Rs 263/MT QoQ). JK Cement lso tightened its operations, leading to negative non-cash working capital, bringing net debt to EBITDA to < 2x in Mar-25E. Promoter/FII Holdings Promoters held 45.68 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.14 per cent, DIIs 24.5 per cent.
Time of India
2 days ago
- Business
- Time of India
Indices: Stock market update: Nifty Bank index advances 0.23%
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs. The Nifty Bank index closed 0.23 per cent up at 55546.05. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW DELHI: The Nifty Bank index closed on a positive note on of IndusInd Bank Ltd.(up 2.36 per cent), Axis Bank Ltd.(up 0.59 per cent), Kotak Mahindra Bank Ltd.(up 0.36 per cent), HDFC Bank Ltd.(up 0.21 per cent) and ICICI Bank Ltd.(up 0.19 per cent) ended the day as top gainers in the the other hand, Au Small Finance Bank Ltd.(down 1.17 per cent), Federal Bank Ltd.(down 0.27 per cent), Canara Bank(down 0.19 per cent) and IDFC First Bank Ltd.(down 0.14 per cent) finished as the top losers of the Nifty Bank index closed 0.23 per cent up at NSE Nifty50 index ended up 81.15 points at 24833.6, while the BSE Sensex stood up 320.7 points at the 50 stocks in the Nifty index, 37 ended in the green, while 13 closed in the of Vodafone Idea, MMTC, IFCI, Reliance Power and Suzlon Energy were among the most traded shares on the of IFB Agro, Quality Power Electr, Pil Italica Lifestyle, Shree Global and Welspun Corp hit their fresh 52-week highs in today's trade, while Lasa Supergenerics, Bharat Rasayan, Navkar Builders, California Soft(PP)and Borana Weaves hit their fresh 52-week lows.
Economic Times
3 days ago
- Business
- Economic Times
HDFC Securities maintains Reduce call on Sundaram Finance; target price Rs 4,410
HDFC Securities has maintained a Reduce call on Sundaram Finance with a revised target price of Rs 4,410. The current market price of Sundaram Finance is Rs 5,180. Sundaram Finance, incorporated in 1954, is a Large Cap company with a market cap of Rs 57579.58 crore, operating in the NBFC sector. ADVERTISEMENT Sundaram Finance's key products/revenue segments include Interest, Dividend, Fees & Commission Income, Lease Rentals, Income From Sale Of Share & Securities, Bad Debts Recovery and Other Services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2300.22 crore, up 4.21% from last quarter Total Income of Rs 2207.35 crore and up 6.63% from last year same quarter Total Income of Rs 2157.27 crore. The company has reported net profit after tax of Rs 553.53 crore in the latest quarter. The company's top management includes Mr.S Viji, Mr.R Venkatraman, Fernandes, Balasubramanian, Mr.R Raghuttama Rao, Mr.L Ganesh, Mr.S Mahalingam, Mr.T T Srinivasaraghavan, Ram, Mr.A N Raju, C Lochan, Viji, Rao. Company has B K Khare & Co. as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Investment Rationale ADVERTISEMENT Sundaram Finance (SUF) reported a steady set of earnings with sustained reflation in NIMs and muted provisioning (-1bps), offset by lower other income. AUM growth marginally moderated further to +17% YoY (Q3FY25: 19% YoY; FY24: +27% YoY), driven by subdued disbursements (+11% YoY; +9% YoY for FY25) across segments, except cars and CE segments. Disbursement uptick remains a key monitorable as the overall CV and PV cycles remain soft. SUF?s product diversification strategy and interest rate reduction environment are likely to aid further reflation in NIMs. While SUF remains a pristine franchise with steady growth and profitability metrics (core RoE of 19% for FY25), current valuations provide limited upside amidst growth headwinds. HDFC Securities expects moderation in loan growth over FY26-FY27E (16% CAGR vs. 20% CAGR over FY23-FY25). The brokerage has tweaked its FY26E/FY27E earnings estimates for lower cost of funds and maintain a REDUCE rating with a revised SoTP-based target price of Rs 4,410 (standalone entity at 3.4x Mar-27 ABVPS; 17% discount to CIFC). (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
