Mudra Lifestyle, engaged in fabric weaving, processing, making garments and gradually moving towards garment manufacturing - mainly in the men's shirts and lady's wear segments, has started at Rs 89.90, which just below its issue price of Rs 90 per share.

Chairman and Managing Director of Mudra Lifestyle, Murarilal Agarwal expects net sales at Rs 398 cr for FY08 while net profit is seen at Rs 44 crore.

Agarwal states that they are sure that they will achieve the results they have projected. He also expects share prices to be maintained at a good price.

Agarwal adds that Rs 12 EPS for next year is a reasonable target. Revenues for Mudra Lifestyle are anticipated to be around Rs 398 crore for 2008.  

The growth in top and bottomline will come from their expanded garment capacity and the weaving sector and the new processing house that they are going to establish.