Kolte-Patil Developers Ltd. Buy
CMP: Rs 129 Target Price: Rs 220
Valuation
At CMP of Rs 129, the stock trades at a P/E of 4.1x FY2009E and 2.4x FY2010E and EV/EBIDTA of 3.0x FY2009E and 1.7x FY2010E. We ‘Initiate Coverage’ on KPDL with a price target of Rs 220. Our NAV estimate is based on the discounted cash flows from the
development schedule for the current landbank.
FINQST,
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