Part of the weekly report to members,sent some months back.
Name:Cinevistaas Ltd
CMP-84
Equity is 10.13 crs.
B.V:62.50rs
Promoters:68% stake.
Story-Company has 4 acres land at Kanjur Marg, Mumbai.Market value of same is around 120 crs. However,company is not selling the land.In 1st Phase, company is developing an I.T. Park on 2 acres which will have around 2.20 lakh s.f. area.Company will not sell the same. Entire property will be put on lease which will earn around Rs. 26-28 crs. as lease rent each year.This works out to 2.60 -2.80 times of its Equity. Company will be spending around 48-50 crs for construction of this I.T.Park to be completed in 18 months.It is being developed by company itself without any partnership with any builder. Expected lease rent is calculated on the basis of prevailing lease rates although when project is ready in 18 months,company may get higher lease rates.For Phase-II, company will undertake development of remaining 2 acres on which also it will build 2.20 lakh s.f. I.T. Park.
Conclusion-Media stocks are attracting abnormal valuations these days.These news is not known to the market.Insider claims the price target to be 120+ in the next 2-4 months.Bravehearts can go with it,"A HIGH RISK-HIGH GAIN STOCK" .
Regards,
ARUN
I can be reached at:-arunanalyst@rediffmail.com
Thursday, January 17, 2008
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