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Thursday, July 24, 2008

Kolte Patil Developers:The one only to attract me

Scripscan:Kolte Patil Developers Ltd
Traded in:Nse-Bse

Story:The company was considered to be one of the hottest bet even some months ago.Under the huge ongoing real estate frenzy the scrip got listed and in no time kolte patil nearly doubled to 275rs from its issue price of 145.The company was humangously oversubscribed by 46 times and that attributed a sparkling debut in the bourses.But with market tanking bigtime over the last 6 months kolte nosedived to 45rs before recovering back to the present level of 55rs.Kolte-Patil is a real-estate developer with predominant presence in Pune.The company has so far developed 25 projects covering residential and commercial buildings and IT parks in Pune and Bangalore.Kolte patil plans to set up serviced apartments and a 4-star business hotel in Pune, along with a five-star hotel in Bangalore and aims to build overall capacity of 858 rooms.The company has recently inaugurated its first representative office at Burjuman Circle, Bur Dubai (UAE), with the objective to assist NRIs and other nationals looking at viable investment options in the comopanys projects in India. This office will service pockets, which have a high concentration of Indian population like GCC, South Africa, Kenya & Singapore.The company is also exploring several options to make a mark in UAE.The growth momentum for the company will continue till the next two years and is likely to increase when the large townships are ready for sale.Revenues from the hospitality segment will also start kicking in by that time.With all these developments,Eps is set to double in the next couple of years.

Conclusion:Kolte patil is the only scrip in the real estate universe that i have got some liking.Its not because its a well managed company with huge potential but coz of the limited downsides from the present levels.ICICI Venture and K2 Property-Couple of real estate funds sensing the same has already opted for it.One can safely invest in the stock and can look for a target of 3 figure in the coming 6-9 months time horizion.

Update on 29th july 2013:Expects to clock a sales volume of 2.5 msft for FY14.Stock looking in good shape.

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