Scripscan:Lancor Holdings Ltd
cmp:120
Code:509048
Story:Lancor Holdings Ltd is Chennai-based real estate company having six ongoing projects in Chennai, a small presence in Bangalore and Coimbatore, and has regular rental income of Rs 4 crore. It has already taken up about 20 acres of land for development which will give a turnover of over Rs 400 crore and about Rs 100 crore profit over the next three years.The company plans to do this same thing all over again ‑ acquire new lands, bring them to development, announce projects, and then go on earnings profits.The company at present is looking to raise USD 13-14 million via the qualified institutional placement (QIP) route to acquire land.The managemnet expects the QIP money to be raised by January-February next year.Lancor has identified four or five different parcels of land for acquisition and development in chennai.This will be taken up and brought to the market as an announced project from 2010 to the beginning of 2011. It will go on for another three years thereafter. The likely sum to be invested is about Rs 200 crore.The company seems to be on a solid foundation.Its been buzzing offlate with big volumes.At present prices apply caution,the future numbers of the counter should dictate its price trend in the bourses.A hold as of now.
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Saturday, October 24, 2009
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