Buy IVRCL Infrastructure, target of Rs 308: P Lilladher

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Buy IVRCL Infrastructure, target of Rs 308: P Lilladher

Prabhudas Lilladher has maintained its buy rating on IVRCL Infrastructure and Projects with a target of Rs 308. The research firm expects the company to register a CAGR of 32% and 25% in revenues and PAT respectively for FY08-10E.

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Prabhudas Lilladher has maintained its buy rating on IVRCL Infrastructure and Projects with a target of Rs 308 in its September 24, 2008 research report. "At the CMP of Rs 250, the stock attractively trades at 14.5x FY09E earnings and 11.2x FY10E earnings. The company has a clear strategy of focusing on cash contracts which will reduce the burden of financing various SPVs in future and thus need for funds. Betting on the robust order book and skilful execution capabilities, we expect the company to register a CAGR of 32% and 25% in revenues and PAT respectively for FY08-10E. Maintain BUY, target of Rs 308," says Prabhudas Lilladher's research report.

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