Khambatta Securities' research report on Pushpanjali Realms and Infratech
Incorporated in July 2013 as Pushpanjali Realms and Infratech Private Limited, then converted to a public limited company pursuant to shareholder approval on May 27, 2016, as Pushpanjali Realms and Infratech Ltd., the company, headquartered in Haridwar (Uttarakhand), India, is into real estate. It has been promoted by first-generation entrepreneurs Deepak Mittal (MD) and Rajpal Walia (whole- time director) with experience of over 10 years in real estate.
Outlook
As it is traded on the Emerge platform and is relatively illiquid given a discount of 20% to the average P/E of its peers, it could go up to Rs.110 (P/E -12 on FY19e EPS).
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