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Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”

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Friday, October 31, 2008

Core Projects & Technologies:-A great great buy

Scripscan:Core Projects & Technologies Ltd
Cmp:45
Traded in:Nse-bse

Story:-In my entire career of 6 years I havent seen the kinda massive fall that core projects witnessed.A great bluechip in making plunged 70% in just a matter of 2 trading sessions.At 11 a.m some friday it was trading at 250 odd and look it at now,quoting at just 45.To me its a tremendous bargain and core is all set to double your money in little time.Guys it fell just bacause some margin call got triggered,we all have seen the case of orchid plunging to 110 and then bang it went on to hit a high of 345.So guys below is my note,read it get it and buy it in bulk.

Introduction:Core Projects and Technologies (CPTL) is an IT company with focus on verticals like education, logistics, BFSI, ERP and healthcare.Now why i like the counter:-

1)The company is expected to set up 40 IGNOU centers by FY09 and another 100 by FY10.It also plans to set up another 100 IGNOU centers every year for next 5 years.Core projects is expected to earn Rs 3 crore as one-time income for installation per centre and Rs 2.8 crore per year per centre as recurring income depending on the usage per hour.The development should catapult core projects into a unique league post 2009.

2)Real estate plays had a dream run post 2005 and players like unitech and several others made fortune for lot of people.At that point of time we had few listed scrips and that fuelled the rally.At some point of time i expect the same to happen in these educational plays.Hardly 4-5 companies available with stunning growth prospects.Core projects is one of the great plays which i feel everyone should opt in their core portfolio.

3)The company has also tied-up with IL&FS–ETS to offer comprehensive IT solutions in the education programmes under space.The JV is targeted at state governments that are initiating various education SSA.The JV expects to earn approximately Rs 1,000 per year/child as a typical state has about 8 million students.Hence, the project could result in potential revenue of Rs 800 crore each year for the next 5 years.The JV could earn a fat 120crs revenue per year.

4)IT spend in the education sector is expected to increase to US $62 billion by 2010. An end-to-end solution provider with three recent acquisitions,The company is becoming a major player in the global IT education space.The company currently has more than 30 products in the education space with clients in the US, UK, Africa and Nigeria.

Comclusion:-The company is expected to become a 1000crs company these year with Np expected to be around 165crs.Core projects is moving up the value chain from a pure IT player to an ITeducation-infrastructure company.Core projects is quoting at ridiculous valuation of less than 2.5 times its fy09 earnings.The company is all set to get immensely rerated in the bourses.I expect the counter to outperform markets in a major way.


Regards,
ARUN
i can be reached at-arunanalyst@rediffmail.com

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