Even as the shares of billionaire Radhakrishnan Damani-run Avenue Supermarts have had a stellar run at the bourses so far, global multi-national conglomerate Goldman Sachs has maintained a buy rating on the shares with a target price of Rs 1,672. Notably, the shares of Avenue Supermarts, which runs the D-Mart retail chain closed at Rs 1,240 on NSE on Thursday. Goldman Sachs target price of Rs 1,672 implies an upside of more than 35% from yesterday\u2019s closing prices. Interestingly, Avenue Supermarts has reported stellar results for the quarter ended December-17 \u00a0by recording a 66% jump in its net profit on the back of improved operating costs and better margins. For the lagtest quarter, the net profit stands at Rs 251.76 crore as compared to Rs 151.87 crore in the corresponding quarter last fiscal. Goldman Sachs says has increased the FY19-21 EPS estimate by -1 to 4%. The firm is bullish on the company given increasing store estimates. Interestingly, D-Mart added five new stores in between September and December-17. The number goes up to 10 stores in the nine months from April-December-17. The company said that more stores are in the radar, as generally in the last quarter store openings generally peak. Track live stock price: Avenue Supermarts \u201cWe are concentrating on the southern and western markets,\u201d Avenue Supermarts chief executive Neville Noronha had said in January this year. Currently, the company runs 141 stores in various parts if the country including Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, and Delhi NCR. Ace investor and billionaire Radhakishan Damani led company had come out with its IPO in March-17 with an issue price of Rs 299. The shares had a blockbuster listing on NSE, as the shares of Avenue Supermarts debuted at a premium of more than 100% at Rs 606 on March 21. In less than a year since its issue, the shares have taken off, more than quadrupling investor wealth in the period. The marked out-performance had led to a very prominent global asset manager Ashburton Investments to say that they had missed the bus on the company. \u201cWe did a lot of work on that and decided to stay away. The valuation just kept us away. Sometimes you just need to bite the bullet,\u201d Jonathan Schiessl of Ashburton told ET Now in September-17. According to Forbes India Rich List 2017, Radhakishan Damani ranks 12th with a staggering net worth of $9.3 billion.