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Taj GVK Hotels gets a 49% upside target from Monarch Research
Monarch Network Capital initiated coverage with a BUY rating and set a target price of ₹475, citing strong occupancy and the consolidation of Taj Santacruz in Mumbai plus the planned Taj Yelahanka in Bengaluru.
LiveMint Markets reports that Monarch Network Capital Research initiated coverage on Taj GVK Hotels & Resorts, now known as Krishna GVK, with a BUY rating and a target price of ₹475.
At the last traded price of ₹319, the target implies around 49% upside for the stock, despite the shares being down 26% over the past year.
Monarch said its investment case is supported by high occupancy at the company’s existing luxury hotels, particularly in Hyderabad, along with scope for higher room rates and the consolidation of Taj Santacruz in Mumbai.
The brokerage also pointed to the company shifting into a new growth cycle, aided by the upcoming Taj Yelahanka property in Bengaluru, and valued the stock at 8x FY29E EV/EBITDA.
Monarch projected revenue and EPS growth with CAGRs of 26.4% and 15.4%, respectively, from FY26 to FY29E, while flagging risks including project delays and dependence on Hyderabad.