Stock Idea : Puravankara Projects Ltd.

Stock : Puravankara Projects Ltd.
CMP : 128.25
The net debt to equity ratio at 0.58:1 and currently the company has dent of over 500 cr.

It also plans to launch high-end villa project in 26-acre parcel in Colombo and to launch 4 lakh-sq ft apartment/office complex in a downtown area.


Expansion plans
Subsidiary Provident Housing in talks to acquire land in Mumbai
Plans to enter mumbai in affordable housing projects
Set to revive Lankan foray, post-civil war

Land acquisition plans
In advanced talks to buy land
Estimates land acquisition cost at Rs1500 cr
Estimates construction financing at Rs6500 cr for first phase
Coimbatore 37 acres
Hyderabad 50 acres
Banglore 50 acres
Kochi 28 acres
Mysore 61 acres

QIP Plans
To raise Rs750 cr Via QIP
Equity dilution around 20% at CMP

Results for Q1FY10 (QoQ) cons
Net sales down 18% at Rs55.97 cr vs Rs67.92 cr
Operating profit down 6% at Rs10.24cr vs RS14.58 cr
OPM up 200 bps at 17% vs 15%
Net profit down 30% at Rs10.24 vs Rs14.58 cr


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