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03 Feb 2015
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Trading Strategy
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HDFC Securities
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Buy
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UPLs 3QFY15 revenues were Rs 30.5bn ( 15% YoY) mainly led by volume growth. EBITDA margin expanded to 18.9% ( 129 bps) led by lower operating expenses. Consequently, EBITDA came in at Rs 5.7bn ( 24%).
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02 Feb 2015
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Trading Strategy
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HDFC Securities
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Buy
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Brigade Enterprises (BRGD) 3QFY15 consolidated PAT of Rs 277mn (up 21% QoQ and 81% YoY) was ahead of our estimate of Rs 230mn owing to higher recognition of revenues from Cosmopolis Phase I project that hit revenue recognition during the quarter.
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