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BUY Ansal Properties and Infra - Merill Lynch
Sunday, May 27, 2007
Merill Lynch has initiated coverage on India's leading Real Estate Giant, Ansal Properties and Infrastructure Ltd [APIL] with a BUY recommendation and a target price of Rs 425, with potential returns of 27%. Recommendation is based on 1) Scope for strong earnings growth. 2) Potential upside of Rs127/sh to from Hi Tech City project at Greater Noida, is not included in current valuation. So effective Valuation will be Rs 425 + Rs 127 = Rs Rs 552.
APIL is expected to report an EPS of Rs 35.8 and Rs 70.7 for FY08 and FY09 respectively. EPSW growth rates are nearly 100%. APIL trades at a forward P/E of mere 9x and 5x. APIL has enough land bank to develop for the next 7 to 8 years.
APIL is expected to report an EPS of Rs 35.8 and Rs 70.7 for FY08 and FY09 respectively. EPSW growth rates are nearly 100%. APIL trades at a forward P/E of mere 9x and 5x. APIL has enough land bank to develop for the next 7 to 8 years.
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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.
