Jefferies on AB Real Estate ; Buy, TP Rs 1600

ABREL reported strong P&L in 2Q on a project delivery, with non-core asset sale proceeds helping turn the balance sheet nearly net cash. New proj. additions have picked up pace, though same will likely get launched from late FY27 onwards. With management focusing on long term value maximisation, delay in Worli launch would impact near term pre-sales even as commercial buildout gains visibility.

ADITYA BIRLA REAL EST LTD

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