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Buy Bhagwati Banquets with target of Rs 120: Joshi
Sharmila Joshi of Prabhudas Lilladher is of the view that one can buy Bhagwati Banquets and Hotels with target of Rs 120. The company is into catering and banquet services and perhaps the only organized player in that space. It already had a hotel in Ahemdabad and it is among the prominent caterers.
Sharmila Joshi of Prabhudas Lilladher is of the view that one can buy Bhagwati Banquets and Hotels with target of Rs 120. The company is into catering and banquet services and perhaps the only organized player in that space. It already had a hotel in Ahemdabad and it is among the prominent caterers.
Joshi told CNBC-TV18, "Bhagwati Banquets is into catering and banquet services and perhaps the only organized player in that space. It already had a hotel in Ahemdabad and it is among the prominent caterers, there it is also providing catering services to 2-3 elite clubs in Ahemdabad. The next big thing that is going to happen is the 180 rooms hotel coming up in Surat as well as the fact that it is now spreading outside Gujarat into Rajasthan and Maharashtra."
She further added, "It is going to grow in this catering and banquet services, so if you look at the earnings that is where most of their earnings are coming from and one's the Surat hotel is up that will also start picking in. Apart from that they have club coming up in Surat for which they will get membership in the first year that should also add to their income in FY08. So going forward we are expecting CAGR growth between 45% in the revenues and about 49% in the profits over the next couple of years and we have a buy on the stock currently with the target of Rs 120."
