Bumi Serpong Damai (BSDE IJ): Expects a tougher 2H21

Bumi Serpong Damai (BSDE IJ)
BUY / TP: IDR:1,430 (+50.5%)
Analyst: Yap Swie Cu

Expects a tougher 2H21
• Strong residential sales continued
• Land plot sales to JV was the driver for the non-housing segment
• Expect slower 2H21 sales, but full-year target will likely be achieved. Maintain BUY