The Penny stock is a real estate company with Parent as a piramal group.
The Co aims to progressively reduce entire debt exposure over the next 27-30 months through the completion of ongoing residential projects.
The realm of realty has come of age in India. The country is witnessing the beginning of a new era; architecture with excellence and difference. With the entry of global giants in the IT & ITES sectors & the current boom in the retail sector, a need has been created for properties matching international standards.
The company is Peninsula land – CMP – Rs 40 ( FV -2 )
Talking about the fundamentals the co is trading at 7 PE and the Co completed the surrender of land lease in Goa, sale of land at Nashik, sale of Peninsula Spenta office building with an eye on debt reduction. It reduced the overall debt by Rs 612 crore during FY20.
Excellent promoter backing with 42 Cr fresh infusion in Feb with ~64% holdings and have recently shown great confidence in meeting all debt obligations this fiscal (Important as, of note is, this Co had been a continuous defaulter during 2019-2022)
Overall Debt down to ~400 Cr (would be down further in Sep considering excellent Q1 and in all likelihood much improved H1) from peak levels of 2400 Cr
Technically the chart structure has formed a rounding cup pattern with sustainible volumes.
Drstockss takeaway :
The promoters have shown interest and balance sheet also reflects it in a very positive way also there are several growth factors playing in looking at all these and around past performance every time there’s a real estate boom in economy the particular co has performed really well.
