Aurum Proptech Ltd. share price target and research reports

Name: Latest research reports of Aurum Proptech Ltd. authored by Dolat Capital and published by - Trendlyne research reports.
Item: Aurum Proptech Ltd.
Rating: 4
Author: Dolat Capital

Latest analyst research reports with target prices and PDF download for AURUM, BSE:539289 Aurum Proptech Ltd.

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Aurum Proptech Ltd.

09 Oct 2020

186.12

0.30%

Majesco

Accumulate: Aurum Proptech Ltd.

Recommendation Target

Dolat Capital

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

14 Aug 2020

186.12

0.30%

Majesco

Buy: Aurum Proptech Ltd.

Target

Dolat Capital

Operating result ahead of estimate; Payout to have buyback first Revenue grew 8.8% QoQ CC terms to $41.2mn (DART estm: 3% QoQ growth). INR Revenue grew by 12.4% to Rs. 3,110mn. The growth was led by strong traction in subscriotion revenues through INspro integration. Product Revenue up 34.6% YoY to Rs 1,491mn. EBIT...

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

10 Aug 2020

186.12

0.30%

Majesco

Buy: Aurum Proptech Ltd.

Target

ICICI Securities Limited

Under the terms of the agreement, all Majesco US (US entity) shareholders of record will receive $16 cash for each share of Majesco US common stock held by them upon closing of the transaction. Majesco US board of directors have unanimously approved the merger and recommended that shareholders approve the merger. Majesco India board also approved the revised transaction on August 8, 2020. In order to enhance successful completion of the proposed transaction, under the Revised Support Agreement, the specified promoters have agreed, in their individual capacity...

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

21 Jul 2020

186.12

0.30%

Majesco

Buy: Aurum Proptech Ltd.

Dolat Capital

Deal-well-done'; shareholders to get rich dividends; maintain Buy We believe the significant-premium on the deal valuation is a classic example of what opportunity any cloud based IP-business can achieve given the potential acceleration theme and further reinforce our positive view in the space. We expect the stock to trade about 20% discount (towards tax & time value) to cash-per-share at about Rs680 and would inch higher as more clarity emerges on distribution route and time-lines...

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

01 Jun 2020

186.12

0.30%

Majesco

Buy: Aurum Proptech Ltd.

Target

ICICI Securities Limited

Key highlight of the quarter was go live of IBM MetLife deal. The IBM MetLife deal is currently live for smaller markets. However, eventual progression will be to go live at national and then global level. We believe this will drive its cloud subscription revenues. Also, we believe this will lead to higher larger deals with other Tier-I insurers. Further, Majesco has also entered into a partnership with Capgemini, PwC, Deloitte, Microsoft Azure, which is expected to drive cloud deals. In addition, the company has seen healthy growth in order book that is up 24% YoY in rupee terms (of which 55% is...

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

18 Mar 2020

186.12

0.30%

Majesco

Buy: Aurum Proptech Ltd.

Recommendation

ICICI Securities Limited

The spread of Covid-19 has led to lockdowns in many countries globally and could have adverse economic implications. In addition, the recent fall in crude prices could also have an adverse impact of fiscal health of oil producing countries. As a result, IT companies, which have considerable exposure to verticals such as oil, energy & utilities; banking & capital markets; manufacturing and travel & transport could see an adverse impact from the ongoing crisis. Companies like Wipro, Infosys in large cap and MindTree, NIIT Tech, Sonata software, Cyient, Accelya Solutions among...

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

11 Feb 2020

186.12

0.30%

Majesco (3QFY20): Cloud driving growth. Maintain BUY

Buy: Aurum Proptech Ltd.

Target

HDFC Securities

Cloud revenue witnessed growth after two quarters of slowdown. Cloud was supported by nine go-lives, ramp-up of cloud deals and higher implementation revenue from existing clients. Partnership with Capgemini, IBM and Microsoft (Azure) is promising, but not yielding results in terms of large deal wins. Growth in cloud subscription and recurring revenue will lead to margin expansion. We expect revenue CAGR of 10% over FY19-22E with cloud CAGR of 21%. We maintain positive stance on Majesco based on (1) Rising adoption of third-party software by insurers, (2) Solid partnerships, (3) Continued deal wins, and (4) Cloud traction. Risk includes prolonged sales cycle and deterioration in US/Europe macros. We maintain BUY on Majesco based strong recovery in revenue and margin in 3QFY20. Revenue growth was led by cloud traction, nine go-lives and deal ramp-up. EBIT margin expansion was healthy, supported by higher margin cloud subscription revenue. The order backlog is robust and cloud deal wins remains healthy. We increase FY21/22E USD revenue est. by 1.4/1.2% to factor in cloud recovery. Our TP of Rs 663 implies EV/rev multiple of 2.0x on Dec FY21 revenue.

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

15 Nov 2019

186.12

0.30%

Majesco (2QFY20): Cloud turbulence. Maintain BUY

Buy: Aurum Proptech Ltd.

Target

HDFC Securities

Cloud revenue growth has witnessed slowdown in the last two quarters due to completion of a large project. The back-fill will happen gradually with new deal wins, go-lives and growth in subscription revenue. Partnership with Capgemini, IBM and Microsoft (Azure) looks promising but large deal wins are still not coming. We expect revenue CAGR of 10% over FY19-22E (cloud CAGR of 16%). We maintain our positive stance on Majesco based on (1) Rising adoption of third-party software by insurers, (2) Solid partnerships, (3) Continued deal wins, and (4) Cloud traction. The risk to our thesis includes slowdown in cloud deal wins, prolonged sales cycle and deterioration in US/Europe macros. We maintain BUY on Majesco despite poor 2QFY20. Revenue fall was led by cloud (completion of large implementation) but the fall in EBIT margin was lower than expected. The order backlog remains robust and cloud deal wins are healthy. We cut FY20/21E USD revenue est. by 4.1/5.4% to factor in 2Q miss. Our TP of Rs 677 implies EV/rev multiple of 2.0x on Sep FY21 rev.

Aurum Proptech Ltd. is trading above all available SMAs

Aurum Proptech Ltd.

15 Nov 2019

186.12

0.30%

Majesco

Hold: Aurum Proptech Ltd.

Target

ICICI Securities Limited

The current quarter was marred by multiple headwinds in terms of Brexit related issues in Europe, which led to a decline of 30.7% in revenues from Europe. Further, cloud implementation took a hit due to the IBM-Met life deal, which is about to go live in the coming quarters. The same is reflected in decline in top five clients, which dipped 26.4% QoQ. The silver lining was cloud subscription revenues which increased 19.3% QoQ and the order book remains healthy which grew 1.7% QoQ (up 33.1% YoY). We expect cloud subscription revenues to further improve post the go live of IBMMetLife deal. Majesco has also entered into a partnership with Capgemini,...