Monday, February 27, 2012

Smart Profit latest recommendation -- Buy Kamanwala Housing Construction Ltd (511131)

BSE : 511131
CMP: 36
Target : 60 in 4 months
Kamanwala Housing Construction Limited (KHCL), a company with a 25-
year track record, based at Mumbai is into construction and
development of commercial and residential buildings.
It owns the famous Filmistan studio in partnership and has been in
news recently that it is selling the land for a whooping amount of Rs.
600 cr. Kamanwala completed a commercial project "Pinnacle Corporate
Park" at Mumbai's most developing commercial hub Bandra Kurla Complex.
Kamanwala's Savoy Residence, a residential project of 60000 sq ft. in
Santacruz West has been completed. Work at Savoy chambers, a
commercial project of 67000 sq.ft in Santacruz West is completed.
Kamanwala is constructing 5 towers residential project in Malad
West .They are developing SRA project at Mahim. Kamanwala owns 125000
sq ft of land in Oshiwara area. They are soon starting with
development of 35 acres of land in Hyderabad. Kamanwala holds huge
land in Noida and Turbhe as well.
With total land asset of more than Rs.1000 cr, market is severely
undervalued at 36 with market capital of Rs.45 cr.
Considering the zeroing of debt the company has undertaken, completion
of its various projects and its land bank, we recommend a STRONG BUY
on Kamanwala with target of 60 in 4 months and more than Rs.100 within
a year.

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