India Real Estate Link

The counter of Shree Precoated is witnessing sustained investment-based buying by investors. The buzz is that the company is going to register good numbers. Analysts say the company is expected to report a PAT of more than two hundred crore on revenue of Rs two thousand crore for financial year 2007-08. The company is looking to develop its 67 acres Kanjuurmarg property, which it had acquired for more than forty crore about 30 years ago. The current market value is estimated to be about four thousand crore rupees. The total cost of the project would be to the tune of Rs 5,000 crore and would generate a revenue of about Rs 1012,000 crore over five years. It is already developing its Bhakti Park project in Mumbai. Analysts expect the company to achieve a total topline of about three thousand crore rupees with about five hundred crore rupees bottom line for financial year 2008-09. This is largely due to low land acquisition cost and low debt. When contacted, company officials refused to comment on the same. The stock closed at Rs 195, down about 4 percent on Thursday.