Bumi Serpong Damai (BSDE IJ)
BUY / TP: IDR:1,430 (+21.7%)
Analyst: Yap Swie Cu

In line 1Q21 core earnings
• One-off items boost 1Q20 profit.
• Strong 1Q21 sales on a jump in land plot sales.
• Higher gross margin due to change in product mix.
• Reiterate BUY call