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Oberoi Realty - All eyes on upcoming Goregaon launch - ICICI Securities Posted On: 2021-02-15 04:36:40 (Time Zone: Arizona, USA) After recording its highest ever quarterly sales bookings in five years in Q3FY21 at Rs9.7bn, OBER is all set to launch a new 70 storey tower in Q4FY21 christened Oberoi Elysian at its Garden City, Goregaon project in Mumbai s western suburbs. As per details available on Maharashtra RERA website and our channel checks, the new tower may have ~362 units (234 3BHKs and 128 4BHKs) with unit ticket sizes ranging from Rs45-60mn+ or a potential sale value of over Rs18bn. We expect OBER to clock over Rs30bn of sales bookings each in FY22-23E owing to new launches and completed/near completion inventory in Worli/Mulund/Borivali projects. We maintain our BUY rating with an unchanged target price of Rs645/share at a 10% premium to NAV considering growth opportunities. Key risks to our call are a decline in demand for residential properties and higher costs o

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