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IRB INFRASTRUCTURE DEVELOPERS LTD
PRICE: RS.241 RECOMMENDATION: BUY
TARGET PRICE: RS.276 FY16E P/E: 12.9X
We recently met with the management of IRB Infrastructure to get an insight
about industry scenario and developments on key projects.
Company has recently received letter of award for operation and maintenance
along with additional works on Mumbai-Pune expressway post
completion of its toll collection period from Aug, 2019. It has also
achieved financial closure of its Solapur Yedeshi project.
We revise our estimates to incorporate recent award win and arrive at a
revised price target of Rs 276 on FY16 estimates (Rs.252 earlier). Based on
adequate upside from the current levels, we upgrade the stock to BUY
(ACCUMULATE earlier)
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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IRB INFRASTRUCTURE DEVELOPERS LTD
PRICE: RS.241 RECOMMENDATION: BUY
TARGET PRICE: RS.276 FY16E P/E: 12.9X
We recently met with the management of IRB Infrastructure to get an insight
about industry scenario and developments on key projects.
Company has recently received letter of award for operation and maintenance
along with additional works on Mumbai-Pune expressway post
completion of its toll collection period from Aug, 2019. It has also
achieved financial closure of its Solapur Yedeshi project.
We revise our estimates to incorporate recent award win and arrive at a
revised price target of Rs 276 on FY16 estimates (Rs.252 earlier). Based on
adequate upside from the current levels, we upgrade the stock to BUY
(ACCUMULATE earlier)
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
LINK
http://www.kotaksecurities.com/pdf/pdfs/FUNDIRB18092014092009.pdf
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