External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

SignatureGlobal India Pvt Ltd / Equity Bottom-Up

<ul><li>Focus On Key Segments - Mid-Income/Premium Housing: Signature’s shift from affordable to mid-income and later premium housing drove accelerated demand and resulted in a low inventory overhang for that segment.</li><li>The company identified this trend shift and adopted a model focusing on homes priced between Rs 2 Cr and Rs 6 Cr.</li><li>This segment currently has limited proven branded players, and over the past decade, Signature has demonstrated its ability to capture this market. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Focus On Key Segments - Mid-Income/Premium Housing: Signature’s shift from affordable to mid-income and later premium housing drove accelerated demand and resulted in a low inventory overhang for that segment.The company identified this trend shift and adopted a model focusing on homes priced between Rs 2 Cr and Rs 6 Cr.This segment currently has limited proven branded players, and over the past decade, Signature has demonstrated its ability to capture this market. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Signatureglobal (India) Ltd - Signature’s Growth Blueprint

Thematic (Sector/Industry)

<ul><li>Pre-Sales Show Slight Growth: In Q4FY25, our coverage universe reported pre-sales of Rs 36,092 Cr, which remained flattish YoY.</li><li>This performance was primarily impacted by delayed launches and the ongoing election cycle, which subdued the usual surge in bookings.</li><li>While some companies outperformed their annual guidance, such as SignatureGlobal and Man Infraconstruction, others, including Oberoi, Prestige, and Arvind SmartSpaces, fell short of their booking expectations. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pre-Sales Show Slight Growth: In Q4FY25, our coverage universe reported pre-sales of Rs 36,092 Cr, which remained flattish YoY.This performance was primarily impacted by delayed launches and the ongoing election cycle, which subdued the usual surge in bookings.While some companies outperformed their annual guidance, such as SignatureGlobal and Man Infraconstruction, others, including Oberoi, Prestige, and Arvind SmartSpaces, fell short of their booking expectations. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Top Conviction Ideas - “Real Estate” - Stable Presales; Launch Spillovers Set Stage for FY26E Growth

<ul><li>We expect companies under our coverage to show a 36% decline in pre-sales for Q4FY25 YoY.</li><li>This is primarily due to the already high base established in the previous financial year's Q4.</li><li>Companies like Man Infraconstruction and Arvind Smartspaces are set to report healthy growth for the year. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We expect companies under our coverage to show a 36% decline in pre-sales for Q4FY25 YoY.This is primarily due to the already high base established in the previous financial year's Q4.Companies like Man Infraconstruction and Arvind Smartspaces are set to report healthy growth for the year. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA on sales bookings.</li><li>Signature recently launched Phase 1 of its Daxin Vistas, Sohna project in Gurugram.</li><li>It consists of independent floors and residential/industrial plots and has an estimated GDV &gt;INR 20bn.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA on sales bookings.Signature recently launched Phase 1 of its Daxin Vistas, Sohna project in Gurugram.It consists of independent floors and residential/industrial plots and has an estimated GDV &gt;INR 20bn.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SignatureGlobal India - Ohna Mid-Income Housing Launch

India

SignatureGlobal (India) Private Limited operates as a real estate and infrastructure development company. The Company develops residential buildings, retail properties, and commercial projects. SignatureGlobal (India) serves customers in India.

SignatureGlobal India Pvt Ltd (1468641D IN)

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SignatureGlobal India Pvt Ltd (1468641D IN)

Signatureglobal (India) Ltd - Signature’s Growth Blueprint

Signature’s shift from affordable to mid-income and later premium housing drove accelerated demand and resulted in a low inventory overhang for...

Axis Direct

Top Conviction Ideas - “Real Estate” - Stable Presales; Launch Spillovers Set Stage for FY26E Growth

Pre-Sales Show Slight Growth: In Q4FY25, our coverage universe reported pre-sales of Rs 36,092 Cr, which remained flattish YoY.

Axis Direct

Q4FY25 Earnings Preview - Real Estate

We expect companies under our coverage to show a 36% decline in pre-sales for Q4FY25 YoY. This is primarily due to the already high base...

Axis Direct

SignatureGlobal India - Ohna Mid-Income Housing Launch

We retain our BUY rating on SignatureGlobal India (Signature) with an unchanged TP of INR 1,905, valuing it at 10x FY24–26E average embedded EBITDA...

ICICI Securities Limited

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