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Buy Prajay engineers syndicate ltd

This article was posted on Jul 26, 2008 and is filed under Uncategorized

Buy Prajay Engineers Syndicate Ltd, Current market price: 59, target 80. 52 week high/ low: 489/ 53, P/E Ratio: 2.31, EPS (Rs.): 25.91, DIV Yield: 26, as on 25 July 2008.

UP 29 % As on 11th August 2008

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Industry: Construction

Prajay – a Hyderabaad based real estate company gives you more than just real estate. Prajay has been transforming the Hyderabad lndscape for the last two decades by developing landmark residential and commercial properties in the twin cities. The company has also made its mark in handling Hospitality projects

Year Mar 08 Mar 07 Mar 06 Mar 05
Profit Before Tax 127.48 92.57 28.54 5.15
Tax 24.61 12.62 5.81 0.70
Profit After Tax 102.87 79.95 22.73 4.45

1 year chart of Prajay engineers syndicate ltd, compared with Nifty:One year chart compared with Nifty

Recent news updates: June 1, 2008 –
a. Prajay Engineers Syndicate Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on June 30, 2008 has recommended a dividend of 25% for the year 2007-08.

b. Prajay Engineers Syndicate reported net loss of Rs 5.08 crore in the quarter ended March 2008 as against net profit of Rs 35.36 crore during the previous quarter ended March 2007. Sales declined 7.91% to Rs 90.70 crore in the quarter ended March 2008 as against Rs 98.49 crore during the previous quarter ended March 2007. For the full year, net profit rose 28.67% to Rs 102.87 crore in the yearended March 2008 as against Rs 79.95 crore during the previous year ended March 2007. Sales rose 70.88% to Rs 344.02 crore in the year ended March 2008 as against Rs 201.32 crore during the previous year ended March 2007.

c. The board of Prajay Engineers Syndicate has recommended dividend at the rate of 25% for the year 2007-08. This was recommended at the board meeting held on 30 June 2008.

Glimpse of Quartely results:

Year Jun 08 Mar 08 Dec 07 Sep 07
Type 1 Qtr 4 Qtr 3 Qtr 2 Qtr
Sales Turnover 22.21 90.70 136.96 46.25
Other Income 0.18 0.69 0.09 0.09
Total Income 22.39 91.39 137.05 46.34
Total Expediture 14.44 90.41 63.25 20.01
Operating Profit 7.95 0.98 73.80 26.33
Interest 2.49 1.16 2.80 2.77
Gross Profit 5.46 -0.18 71.00 23.56
Depreciation 0.87 0.79 0.50 0.50
Tax 1.59 4.11 4.97 7.66
Reported PAT 3.00 -5.08 65.53 15.40

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