Buy Karda Cosntructions; target of Rs 280: Joindre Capital Services

Joindre Capital Services' research report on Karda Cosntructions

The Karda Constructions Group is a well-established Nashik based group having its presence in the construction industry for more than two decades, The group was founded by Mr. Naresh Karda in 1994. KCL has been concentrating on affordable housing in the residential segment since its inception and from 2001 onwards, it stepped into the commercial segment as well. KCL aims to provide quality and affordable developments in the real estate sector. Karda has a good brand popularity and reputation, and a track record of developing innovative projects with its emphasis on contemporary architecture, strong project execution and best construction in the industry.

Outlook

Hence we believe that the KCL stock should be purchased at the current price for a price target of around Rs 280 based on 12x FY20E over the next 15 to 18 months.