Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>As the second largest population in the world, India real estate is on a transformational path,  driven by economic growth and domestic demand</li>
<li>In particular, we think the rapid urbanization, rising disposable income, infrastructure demand as well as capital inflow from NRI provided further boost to the sector</li>
<li>We like DLF, which is one of the largest real estate developers in the country, on the back of its product positioning and strong fundamentals</li>
</ul>


As the second largest population in the world, India real estate is on a transformational path,  driven by economic growth and domestic demand
In particular, we think the rapid urbanization, rising disposable income, infrastructure demand as well as capital inflow from NRI provided further boost to the sector
We like DLF, which is one of the largest real estate developers in the country, on the back of its product positioning and strong fundamentals


India Real Estate: Domestic Demand & Infrastructure Boom – LONG DLF

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dlf-ltd" target="_blank" data-smartkarma-citation="entities:11106:1" rel="noopener">DLF Ltd (DLFU IN)</a> re-entered Mumbai after a decade with 'The Westpark', a luxury project in Andheri West, featuring 416 apartments and INR 800-900 crore investment</li>
<li>Company launched a Mumbai luxury project targeting INR 2,000-2,300 crore revenue from phase one, with broader market expansion and new launch plans</li>
<li>This signals a strategic shift for debt-free DLF towards high-margin luxury developments, leveraging Mumbai's booming market and demand for premium homes</li>
</ul>



DLF Ltd (DLFU IN) re-entered Mumbai after a decade with 'The Westpark', a luxury project in Andheri West, featuring 416 apartments and INR 800-900 crore investment
Company launched a Mumbai luxury project targeting INR 2,000-2,300 crore revenue from phase one, with broader market expansion and new launch plans
This signals a strategic shift for debt-free DLF towards high-margin luxury developments, leveraging Mumbai's booming market and demand for premium homes


DLF's Mumbai Re-Entry: A New Era for Premium Real Estate?

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>May is a result season, and hence, very few companies that are out of their silent period are eligible to permit insider trading activity</li>
<li>Sectors with notable activity include real estate, financials, media and renewable energy.</li>
<li>Most of these stocks are close to same price levels where the insider purchases happened.</li>
</ul>


May is a result season, and hence, very few companies that are out of their silent period are eligible to permit insider trading activity
Sectors with notable activity include real estate, financials, media and renewable energy.
Most of these stocks are close to same price levels where the insider purchases happened.


Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>RBI's MPC cut its policy repo rate by 50bp (to 5.5%, implying cuts totalling 100bp in the past half year), and also a phased 100bp cut in CRR by Dec'25. </li>
<li>Despite CPI inflation moderating below 3.2%YoY in Apr'25, the RBI has only slightly lowered its inflation forecast for FY26 to 3.7% (from 4%), and hence returned to a neutral stance. </li>
<li>Given an above-normal monsoon, already strong Rabi crop, and low crude oil prices, we expect CPI inflation to average less than 3%YoY in Jun-Dec'25, allowing 75bp of further rate cuts. </li>
</ul>


RBI's MPC cut its policy repo rate by 50bp (to 5.5%, implying cuts totalling 100bp in the past half year), and also a phased 100bp cut in CRR by Dec'25. 
Despite CPI inflation moderating below 3.2%YoY in Apr'25, the RBI has only slightly lowered its inflation forecast for FY26 to 3.7% (from 4%), and hence returned to a neutral stance. 
Given an above-normal monsoon, already strong Rabi crop, and low crude oil prices, we expect CPI inflation to average less than 3%YoY in Jun-Dec'25, allowing 75bp of further rate cuts. 


India: 50bp Rate Cut, 100bp of CRR Cuts Pave the Way for Faster RGDP Growth

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

CleanMax Enviro Energy Solutions Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cleanmax-enviro-energy-solutions-ltd" target="_blank" data-smartkarma-citation="entities:45702:1" rel="noopener">CleanMax Enviro Energy Solutions Ltd (8382406Z IN)</a> (CEESL) is looking to raise about US$586m in its upcoming India IPO.</li>
<li>CEESL is a provider of commercial and industrial renewable energy, specializing in delivering decarbonization solutions, including supplying renewable power and offering energy services and carbon credit solutions to customers.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



CleanMax Enviro Energy Solutions Ltd (8382406Z IN) (CEESL) is looking to raise about US$586m in its upcoming India IPO.
CEESL is a provider of commercial and industrial renewable energy, specializing in delivering decarbonization solutions, including supplying renewable power and offering energy services and carbon credit solutions to customers.
In this note, we talk about the not-so-positive aspects of the deal.


CleanMax Enviro Energy Solutions Pre-IPO - The Negatives - Elevated Debt Amid Inconsistent Growth

India

DLF Ltd. is a real estate development company. The Company develops residential, commercial, and retail properties.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

DLF Ltd (DLFU IN)

India Real Estate: Domestic Demand & Infrastructure Boom – LONG DLF

We think India real estate is on a transformational path, backed by its huge population, urbanization, rising income, infrastructure and capital...

Jacob Cheng

DLF's Mumbai Re-Entry: A New Era for Premium Real Estate?

DLF Ltd re-enters Mumbai luxury market with 'The Westpark', signaling strategic shift towards high-margin developments and market expansion.

Sudarshan Bhandari

Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Sreemant Dudhoria,CFA

India: 50bp Rate Cut, 100bp of CRR Cuts Pave the Way for Faster RGDP Growth

We forecast 8.5% real GDP growth in FY26, with another 75bp of rate cuts by Dec'25 (after 100bp cuts in Feb-Jun'25) boosting fixed investment,...

Prasenjit K. Basu

CleanMax Enviro Energy Solutions Pre-IPO - The Negatives - Elevated Debt Amid Inconsistent Growth

CleanMax Enviro Energy Solutions Limited (CEESL) is looking to raise around US$586m in its upcoming India IPO. In this note, we will talk about the...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

India Real Estate: Domestic Demand & Infrastructure Boom – LONG DLF

We think India real estate is on a transformational path, backed by its huge population, urbanization, rising income, infrastructure and capital...

Jacob Cheng

DLF's Mumbai Re-Entry: A New Era for Premium Real Estate?

​DLF Ltd re-enters Mumbai luxury market with 'The Westpark', signaling strategic shift towards high-margin developments and market expansion.

Sudarshan Bhandari

Prices Drop, Eyes Pop: Insider Buying Update – May 2025 (Market Cap > USD 1 Billion)

​May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...

Sreemant Dudhoria,CFA

India: 50bp Rate Cut, 100bp of CRR Cuts Pave the Way for Faster RGDP Growth

We forecast 8.5% real GDP growth in FY26, with another 75bp of rate cuts by Dec'25 (after 100bp cuts in Feb-Jun'25) boosting fixed investment,...

Prasenjit K. Basu

CleanMax Enviro Energy Solutions Pre-IPO - The Negatives - Elevated Debt Amid Inconsistent Growth

CleanMax Enviro Energy Solutions Limited (CEESL) is looking to raise around US$586m in its upcoming India IPO. In this note, we will talk about the...

Akshat Shah

DLF Ltd re-enters Mumbai luxury market with 'The Westpark', signaling strategic shift towards high-margin developments and market expansion.

May is a busy result season for companies, limiting insider trading opportunities, with notable activity in real estate, financials, media, and...