Professional
Added to YB: 2024-05-23
Pitch date: 2024-05-17
CGR.JO [bullish]
Calgro M3 Holdings Limited
-12.28%
current return
Author Info
No bio for this author
Company Info
Calgro M3 Holdings Limited, together with its subsidiary, develops integrated residential properties in South Africa.
Market Cap
ZAR 493.7M
Pitch Price
ZAR 5.46
Price Target
22.20 (+362%)
Dividend
1.85%
EV/EBITDA
5.06
P/E
2.43
EV/Sales
1.23
Sector
Real Estate Management and Development
Category
value
Desert Lion Capital Portfolio Holding: Calgro M3 Holdings Limited
Calgro M3 (CGR.JO): Affordable housing developer in South Africa. Pipeline of 43-53K units (~15 yrs). FY24: margins & efficiency drove profits despite lower sales. 27% gross margin, 63% net debt/equity, 16% ROE, 41% BV/share growth, 32% EPS growth. Trades at <3 P/E, 58% discount to BV. 33% earnings yield growing at 16%/yr. Potential for 3-4x upside on multiple expansion in easing rates environment. Strong mgmt, balance sheet.
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