Morgan Stanley On Indian Economy | Godrej Properties | BOFA | JEFFERIES ON ADANI GROUP | SAMHI HOTEL GUIDANCE

 

Morgan Stanley On Indian Economy:

Growth in GDP of 7.4% and GVA of 6.8% higher than expected

Improved industrial activity with manufacturing and construction leading growth

Expect growth to moderate due to weak global demand

Monitoring domestic policy trends and global tariffs

 

Godrej Properties: Aquires 14-acre land parcel in Kharadi - Wagholi, Pune.

The project will have an estimated revenue potential of Rs 4,200 Cr.

 

BOFA Sec Says Indian govt would not want telecom sector to turn into a duopoly

We are optimistic that India will remain a 3-player market

Next round of tariff hikes should be in the range of 15%

India is the only market where tower co trades at a discount to the telecom company

Competitive intensity in ecommerce/quick commerce should reduce in next 12 months

 

JEFFERIES ON ADANI GROUP:

FY25 was the year of consolidation for Adani Group with EBITDA growing 14% year-on-year (5-yr CAGR: 25%+)

Group leverage inched up slightly as capex accelerated across entities

Raised $2 bn in equity and more recently completed $750mn bond Praise, subscribed by marquee global investors

FY25-FY27 EBITDA estimated to grow at 22% CAGR

 

SAMHI HOTEL GUIDANCE:



Revenue Growth Expected continued double-digit growth, driven by demand recovery and new assets.

Margins expected to improve with operational leverage, new openings, and premium brand repositioning.

Asset Expansion: New rooms from acquisitions (Trinity, Caspia) and conversion to brands like Westin, Tribute Portfolio, W.

Expansion of existing hotels in Hyderabad and Pune.

Debt & Liquidity: Strengthened by GIC investment; Net Debt/EBITDA targeted below 3.0x.


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