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Ashish Chugh's hidden gems: Ganesh Housing, Country Club
Ashish Chugh, Invesment Analyst & Author, Hidden Gems is positive on real estate based company Ganesh Housing, which is amongst the largest land bank owners in Ahmedabad. He estimates the company to report and EPS (Earnings Per Share) of close to Rs 16 this year.
Ashish Chugh, Invesment Analyst and Author, Hidden Gems is positive on real estate based company Ganesh Housing , which is amongst the largest land bank owners in Ahmedabad. Ganesh Housing today, has a land bank of about 650 acres, he said. He estimates the company to report and EPS (Earnings Per Share) of close to Rs 16 this year. "Last year, this company gave a dividend of 45% and assuming a lower dividend this year of about 30% it would translate into a dividend yield of about 6.5% at the current market price."
"This company as two wholly owned subsidiaries; and one of them is setting up an integrated township in Ognaj which is on the outskirts of Ahmedabad and the second subsidiary is setting up a mall cum shopping complex in Ahmedabad."
Chugh is bulish on Country Club since thecompany has established about 200 properties out of which 50 properties are owned by the company and the balance are franchise properties. Moreover, at the current price of Rs 14 the marketcap of the company is just about Rs 110 crore. The company has also raised about Rs 650 crore by way of Foreign Currency Convertible Bond(FCCB) and Global Depositary Receipt(GDR). If one considers the current financials of the company, in the first nine months, the company has achieved sales of about Rs 330 crore, which is up by about 45% profit after tax (PAT) is about Rs 70 crore, which is up by about 36%.
