ANTIQUE ON ABREL

ABREL

Buy, target price ₹2,820 ABREL gearing up for 139bn+ 2H launches after a quiet 1H Strong initial response to 3Q launches (Punya, Evam, Pravaah) Birla Pravaah (Gurugram) expected to outperform 3Q pre-sales likely ₹25bn+ from launches and 3-4bn sustenance More 4Q launches coming, including Niyaara Tower 3 FY26 pre-sales may exceed ₹80bn, possibly reaching ₹90bn All 3Q projects have RERA approval and channel partner readiness Key watch: business development and timely Niyaara Phase 3 launch