Tuesday, November 27, 2007

Religare Securities believes DS Kulkarni Developers has solid growth prospects and maintains ‘buy’ on the stock with a target price of Rs 502

At the current price of Rs 280, D S Kulkarni trades price to earnings of 12 times 2007-08 estimated earnings per share of Rs 23.3 and 5.6 times 2008-09 EPS of Rs 49.9.

The company quotes at 0.4 times one-year forward net asset value of Rs 627 which is relatively cheaper than Mumbai and Pune-based reality players, says Religare.

The target price of Rs 502 for the scrip represents a multiple of 0.8 times one-year forward net asset value.
:Religare maintains 'buy' on DS Kulkarni Developers: The Economic Times.

Related Story: D.S. Kulkarni chooses Netherland's International investment company Kardan as a JV partner in DSK's 250 acre multi-services SEZ at Fursungi, in Pune!

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