1,70,501 sq. ft. area sold: This small-cap realty stock has reported a jump of 171 per cent surge in sales and currently trades at a low PE ratio!
The company has recently released its consolidated operational updates for the second quarter of FY24, which reveals a strong quarter in terms of pre-sales,
In the previous week, the Nifty index managed to eke out modest gains, registering a marginal increase of 0.08 percent. A closer look at the weekly chart reveals a small-bodied bullish candlestick pattern with a long lower shadow and a minor upper shadow, resembling a Hammer-like candlestick pattern. This formation comes after a couple of weeks of correction, suggesting a bullish reversal pattern. Therefore, if the index continues to exhibit strong positive momentum in the upcoming sessions, it could confirm the possibility of further upside in the near future.
Amidst the diverse sectors in the market, one that particularly stood out during the previous week was the Nifty Realty sector, which saw a notable surge of over 2 per cent. Within the realty sector, there is one Small-Cap stock that has been catching the attention of investors - Marathon Nextgen Realty Limited. This publicly listed entity is a part of the esteemed Marathon Group, which has been actively involved in the real estate sector for more than five decades.
Over the past year, this stock has demonstrated remarkable performance, surging by nearly 94 percent. Presently, it trades at a price-to-earnings (PE) ratio of 13.06x, with a commendable Return on Capital Employed (ROCE) of 16.82 percent.
Furthermore, the company has recently released its consolidated operational updates for the second quarter of FY24, which reveals a strong quarter in terms of pre-sales, amounting to Rs 122 crore.
Key Operational Highlights for Q2FY24:
- The area sold stood at an impressive 1,70,501 square feet, reflecting a remarkable YoY increase of 108 per cent compared to the corresponding period of the previous year.
- Sales value reached Rs. 271 crores, marking a substantial YoY increase of 171 per cent over the corresponding period of the previous year.
- Collections stood at Rs. 186 crores, showing a significant YoY growth of 98 per cent over the corresponding period of the previous year.
After the conclusion of Q2FY24, the company's net debt position stands at Rs. 849 crore, indicating a financial position that is worth noting.
The robust operational performance and financial stability of Marathon Nextgen Realty Limited, coupled with the overall bullish sentiment in the market, make this stock one to watch closely as it continues to make strides in the real estate sector.
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It's important to note that this article is for informational purposes only and should not be considered as investment advice. As with any investment, thorough research and due diligence are essential before making any financial decisions.