Stock Picking - Art Or Science

If there is one Legal way to Become Rich early, it is by Investing in Stocks and Real Estate. In this Blog you will not see general news which are available at numerous sites, instead u will get filtered news and opinions which matter. Many a times some small but important news were overlooked because of simultaneous big event, I try to put all those news in my Blog. The Home Page shows posts of only last 10 days. To see all the posts click on the month in the Archive section.

Tuesday, July 31, 2007

Patel Engineering - Wait For Value Unlocking

Patel Engineering posts 34.46% jump in cons net profit at Rs 27.04 crore versus Rs 20.11 crore YoY. Consolidated income from operations rose 33.07% at Rs 415.25 crore Vs Rs 312.06 crore. Revenues includes: 50% from Hydro projects, 30% from Irrigation and 8% from road business.

As on June 30, 2007, company’s order book position above Rs 5,000 crore. Company has pre-qualified for new projects worth in excess of Rs 6,000 crore as on June 30, 2007. Company bagged order worth USD 153 million in Algeria from Agence Nationale Des Barrage Et Transferts (ANBT – Algeria).

Floated wholly owned subsidiary Patel Realities India Ltd (PRIL) for real estate development. Company currently owns more than 500 acres of urban land bank in Bangalore, Chennai, Hyderabad, Mumbai and other cities. Real estate revenues starts reflecting from FY09. Working capital is of 150 days current cash at Rs 175 crore including Rs 100 crore from unutilised funds from FPOs Rs 30 crore revenues from Joint Venturs. Debt equity ratio - 0.70, current debt at Rs 500 crore plus.

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