Investec initiates 'buy' on Keystone Realtors, shares up

Keystone Realtors

24/07/2024 09:01

** Shares of Keystone Realtors  KEYS.NS  climb 2.6% to
720.30 rupees 
    ** KEYS' large pipeline of projects should accelerate
pre-sales growth over medium term, says Investec
    ** Brokerage initiates coverage on realtor with "buy",
Street-high PT of 875 rupees, per LSEG
    ** Investec second brokerage to start coverage on KEYS after
Axis Capital, which also rates it "buy" - LSEG
    ** KEYS' higher collection ratios - the money it collected
from a project vs what it expected to collect - and better avg
realisations vs peers shows strong competitive positioning -
Investec
    ** Stock up 12.5% YTD vs peers Godrej Properties'  GODR.NS 
and Macrotech Developers'  MACE.NS  56% and 36% climb,
respectively
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))