Synopsis: Two stocks offer upside potential of 52% and 48%, backed by brokerage ‘Buy’ calls. Strong pre-sales targets of ₹4,000–5,000 crore and healthy occupancy of 73.4%, along with improving ARR and RevPAR trends, support growth visibility.
Indian equity indices ended with Nifty at 25,683 on February 16. At close, the Sensex was up 650 points or 0.79 percent at 83,277, and the Nifty was up 212 points or 0.83 percent at 25,683. In Nifty 500, Index 1,713 shares saw decline and 1,208 shares saw a positive momentum.
Max Estates
Max Estates is a premium real estate developer focused on residential and commercial projects in Delhi-NCR. Backed by the Max Group, the company emphasizes design-led developments, sustainable construction, and high-quality urban spaces. It has been expanding its portfolio across Gurugram and Noida, targeting both luxury housing and income-generating commercial assets.
With a market capitalization of Rs 6,571 crore, the shares were trading at Rs 402.00 per share, decreasing around 1.78 percent as compared to the previous closing price.
ICICI Direct has issued a ‘Buy’ recommendation on the real estate stock with a target price of Rs 610, implying a potential upside of 52% from the current level of Rs 402. The bullish stance reflects confidence in the company’s growth prospects, project pipeline, and improving sales momentum.
As per the brokerage, the company is targeting Rs 4,000–5,000 crore in Q4 pre-sales to meet its FY26 guidance. It has already achieved Rs 1,913 crore in 9MFY26 and expects strong contributions from new launches in Noida and Gurugram, along with recently launched projects supporting momentum into FY27.
The brokerage highlighted a healthy pipeline for FY27, including the balance phase of Estate 361 and key launches in Gurugram. The company continues to evaluate new residential business development opportunities of 1–2 million square feet annually, which should help sustain pre-sales growth and strengthen its medium-term trajectory.
Lemon Tree Hotels
Lemon Tree Hotels is one of India’s largest mid-scale hotel chains, operating across multiple brands and segments. The company has a strong presence in business and leisure destinations, offering value-driven hospitality. With an expanding portfolio and focus on operational efficiency, it aims to strengthen occupancy, pricing power, and long-term growth.
With a market capitalization of Rs 9,966 crore, the shares were trading at Rs 126 per share, decreasing around 1.41 percent as compared to the previous closing price.
IDBI Capital has maintained a ‘Buy’ rating on the hotel stock with a target price of ₹187, suggesting a potential upside of 48% from the current level of ₹126. The positive outlook reflects confidence in improving occupancy trends, pricing power, and steady earnings growth in the hospitality segment.
As per the brokerage, the company delivered a healthy Q3 FY26 performance with revenue rising 14% YoY to ₹4,061 million and EBITDA up 11% to ₹2,047 million. Margins slipped 145 bps due to renovation, technology investments, and GST impact. Net profit inched up 2.5% despite exceptional expenses of ₹313 million.
Operationally, average occupancy stood at 73.4%, marginally lower by 82 bps YoY. However, ARR increased 11% to ₹7,487, driving a 9% rise in RevPAR to ₹5,494. The improvement highlights strong pricing discipline, even as accelerated renovations caused temporary disruptions across certain properties.
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