Positive on Era Construction: Motilal Oswal

Motilal Oswal has come out with a report on the results forecast of midcap companies. Shrinath Mithanthaya, Head of PCG Research, Motilal Oswal Securities explains what he expects from Era Constructions.

Mithanthaya says, "Frankly, we are not too cued on to quarterly estimates because we are more focussed on the annual estimates. Quarterly estimates tend to  be an interpolation of what we expect annually."

He further says, "We feel Era Construction has evolved from just being an infrastructure construction company to also doing private sector projects. The company is also now getting into housing and residential constructions and that is really driving the topline and the bottomline growth on a consolidated basis."

"It is one of the cheapest in the construction space and therefore we are positive on Era Constructions. We are expecting a significant jump of about Rs 21 crore against Rs 4 crore reported last corresponding quarter."