[sharetrading] C&C Construction [1 Attachment]

 

[Attachment(s) from ekam ber included below]

 

Anagram's Earning Review : C&C Construction Q3FY10

VALUATION

 

The robust topline and bottom line growth has compelled us to revise the FY10E and FY11E topline by 11% and 12.6% respectively. We have also revised our FY10E and FY11E EPS estimates to Rs 32.4 and Rs 46.9 respectively. We continue to value the EPS business of the company at 7 times its FY11E EPS of Rs 46.9 and the road BOT project at 1.5 times its BV. As the ISBT project at Mohali has still not achieved the financial closure, it is not included in our valuations. Our target price for the stock is revised upward (owing to higher FY11E EPS) at Rs 359 from the previous 349.5.

 

We advise clients to BUY the stock at the current market price.

 

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C&C Construction - Anagram - 27 01 10.PDF

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