BUY PRAJAY ENGINEERING @55  ..MARKET CAP 220 CRORES ..52 WEEK HIGH IS 480
AND LOW IS 53 ..EPS IS 37 ..THE STOCK IS TRADING CUM DIVIDEND OF RS 2.5 ...
REAL ESTATE AND ENGINEERING COMPANY ..TOP 3 IN HYDERABAD .....RECENTLY CITI
HAS AQUIRED 2 LAC SHARES LAST WEEK  The bond holders have exercised their
option to convert Foreign Currency Convertible Bonds into equity shares of
Rs 10 each. Accordingly, 13,396,147 equity shares have been allotted during
the year at a price of Rs 208 per equity share.

Ambitious Expansion Plans

PESL has announced ambitious growth plans for FY08-FY12. As of

December 2007, the Company has 825 acres of land bank with a developable

area of ~37 msf (million square feet) spared across 32 projects to be
executed

all through FY08-FY12. This is a significantly large development considering

it has developed ~6.7 msf since its inception in 1986 till FY07. Initially,

PESL was in developing low-cost housing, since 2006, it has moved up by

developing independent apartments/villas, duplex housing and high-end

bungalows which are premium products and offer superlative margins in the

housing industry. We expect that on successful execution of these projects,

the top-line is likely to grow at a CAGR of 53.22% for FY07-FY12E.

Significant Player in Hyderabad

Hyderabad is emerging as a prominent space for commercial service sector

led by IT/ITES industry since it is providing quality cheap labour coupled

with sufficiently low-cost infrastructure, thus offering an ideal
environment

for the industry. PESL is one of the major real estate developers in the
city

with an experience of over two decades in real estate construction. As of

FY07, the Company has developed ~6.7 msf in 75 projects; pre-dominantly

into housing with alongside presence in commercial and hospitality segment

as well. Moreover, it has 825 acres of land bank (of which 80% is in

Hyderabad) at eFY07, translating into ~31 msf residential development, ~2.7

msf of commercial and some into hospitality and retail segment.

Valuation

We initiate coverage with a 'BUY' rating and a target price of Rs. 340. We

expect the topline to grow by 99.46% for FY08E, 63.40% for FY09E, and

36.93% for FY10E; growth largely contributed by quantum projects

commenced in FY08 coupled with favourable residential market in

Hyderabad. PESL is likely to maintain its EBIDTA margin to 40%+ level due

to positioning of its projects in the higher margin segment. The target
price of

Rs. 340 implies a potential upside of 600% from the current level.

Prajay Eng MF Global 18 Feb.pdf 489K Download

Prajay Engineers_Initiating Coverage.pdf 519K Download

Prajay-16-6-08-PL.pdf 59K Download

Share holdingShare holding pattern as on :      30/06/2008      31/03/2008      31/12/2007
Face value      10.00   10.00   10.00
        No. Of Shares   % Holding       No. Of Shares   % Holding       No. Of Shares   % Holding
Promoter's holding
Indian Promoters        6517200 16.42   6517200 16.42   5032600 18.24
Sub total       6517200 16.42   6517200 16.42   5032600 18.24
Non promoter's holding
Institutional investors
FII's   27604162        69.54   28182533        71.00   19527438        70.78
Sub total       27629162        69.60   28182533        71.00   19527438        70.78
Other investors
Private Corporate Bodies        480586  1.21    349650  0.88    417709  1.51
NRI's/OCB's/Foreign Others      100078  0.25    91100   0.23    89750   0.33
Direcctors/Employees    2239100 5.64    2219100 5.59    121500  0.44
Sub total       2819764 7.10    2659850 6.70    628959  2.28
General public  2729650 6.88    2336193 5.89    2401715 8.70
Grand total     39695776        100.00  39695776        100.00  27590712        100.00

--- On Thu, 24/7/08, THE INSIDER <theinsider...@gmail.com> wrote:
From: THE INSIDER <theinsider...@gmail.com>
Subject: <<Aiii>> PRAJAY ENGINEERING @60 MARKET CAP 250CRORES ..LAND BANK OF 825 ACRES IN HYDERABAD
To:
Date: Thursday, 24 July, 2008, 10:41 AM

BUY PRAJAY ENGINEERING @55  ..MARKET CAP 220 CRORES ..52 WEEK HIGH IS 480 AND LOW IS 53 ..EPS IS 37 ..THE STOCK IS TRADING CUM DIVIDEND OF RS 2.5 ... REAL ESTATE AND ENGINEERING COMPANY ..TOP 3 IN HYDERABAD .....RECENTLY CITI HAS AQUIRED 2 LAC SHARES LAST WEEK  The bond holders have exercised their option to convert Foreign Currency Convertible Bonds into equity shares of Rs 10 each. Accordingly, 13,396,147 equity shares have been allotted during the year at a price of Rs 208 per equity share.Ambitious Expansion PlansPESL has announced ambitious growth plans for FY08-FY12. As ofDecember 2007, the Company has 825 acres of land bank with a developablearea of ~37 msf (million square feet) spared across 32 projects to be executedall through FY08-FY12. This is a significantly large development consideringit has developed ~6.7 msf since its inception in 1986 till FY07. Initially,PESL was in developing low-cost housing, since 2006, it has moved up
 bydeveloping independent apartments/villas, duplex housing and high-endbungalows which are premium products and offer superlative margins in thehousing industry. We expect that on successful execution of these projects,the top-line is likely to grow at a CAGR of 53.22% for FY07-FY12E.Significant Player in HyderabadHyderabad is emerging as a prominent space for commercial service sectorled by IT/ITES industry since it is providing quality cheap labour coupledwith sufficiently low-cost infrastructure, thus offering an ideal environmentfor the industry. PESL is one of the major real estate developers in the citywith an experience of over two decades in real estate construction. As ofFY07, the Company has developed ~6.7 msf in 75 projects; pre-dominantlyinto housing with alongside presence in commercial and hospitality segmentas well. Moreover, it has 825 acres of land bank (of which 80% is inHyderabad) at eFY07, translating into ~31 msf residential
 development, ~2.7msf of commercial and some into hospitality and retail segment.ValuationWe initiate coverage with a 'BUY' rating and a target price of Rs. 340. Weexpect the topline to grow by 99.46% for FY08E, 63.40% for FY09E, and36.93% for FY10E; growth largely contributed by quantum projectscommenced in FY08 coupled with favourable residential market inHyderabad. PESL is likely to maintain its EBIDTA margin to 40%+ level dueto positioning of its projects in the higher margin segment. The target price ofRs. 340 implies a potential upside of 600% from the current level.

      From Chandigarh to Chennai - find friends all over India. Go to http://in.promos.yahoo.com/groups/citygroups/

SHareholding shown as FII shareholding is nothing but P-Notes and  Check last 5 years price history of prajay it was bubble that burst.

--- On Thu, 24/7/08, venkatesh vadalamani <vadalamani...@yahoo.co.in> wrote:

From: venkatesh vadalamani <vadalamani...@yahoo.co.in>
Subject: <<Aiii>> Re: PRAJAY ENGINEERING @60 MARKET CAP 250CRORES ..LAND BANK OF 825 ACRES IN HYDERABAD
To: aiii@googlegroups.com
Date: Thursday, 24 July, 2008, 8:51 PM

Share holdingShare holding pattern as on : 30/06/2008 31/03/2008 31/12/2007
Face value 10.00 10.00 10.00
No. Of Shares % Holding No. Of Shares % Holding No. Of Shares % Holding
Promoter's holding
Indian Promoters 6517200 16.42 6517200 16.42 5032600 18.24
Sub total 6517200 16.42 6517200 16.42 5032600 18.24
Non promoter's holding
Institutional investors
FII's 27604162 69.54 28182533 71.00 19527438 70.78
Sub total 27629162 69.60 28182533 71.00 19527438 70.78
Other investors
Private Corporate Bodies 480586 1.21 349650 0.88 417709 1.51
NRI's/OCB's/Foreign Others 100078 0.25 91100 0.23 89750 0.33
Direcctors/Employees 2239100 5.64 2219100 5.59 121500 0.44
Sub total 2819764 7.10 2659850 6.70 628959 2.28
General public 2729650 6.88 2336193 5.89 2401715 8.70
Grand total 39695776 100.00 39695776 100.00 27590712 100.00

--- On Thu, 24/7/08, THE INSIDER <theinsider...@gmail.com> wrote:

From: THE INSIDER <theinsider...@gmail.com>
Subject: <<Aiii>> PRAJAY ENGINEERING @60 MARKET CAP 250CRORES ..LAND BANK OF 825 ACRES IN HYDERABAD
To:
Date: Thursday, 24 July, 2008, 10:41 AM

BUY PRAJAY ENGINEERING @55  ..MARKET CAP 220 CRORES ..52 WEEK HIGH IS 480 AND LOW IS 53 ..EPS IS 37 ..THE STOCK IS TRADING CUM DIVIDEND OF RS 2.5 ... REAL ESTATE AND ENGINEERING COMPANY ..TOP 3 IN HYDERABAD .....RECENTLY CITI HAS AQUIRED 2 LAC SHARES LAST WEEK  The bond holders have exercised their option to convert Foreign Currency Convertible Bonds into equity shares of Rs 10 each. Accordingly, 13,396,147 equity shares have been allotted during the year at a price of Rs 208 per equity share.
Ambitious Expansion Plans
PESL has announced ambitious growth plans for FY08-FY12. As of
December 2007, the Company has 825 acres of land bank with a developable
area of ~37 msf (million square feet) spared across 32 projects to be executed
all through FY08-FY12. This is a significantly large development considering
it has developed ~6.7 msf since its inception in 1986 till FY07. Initially,
PESL was in developing low-cost housing, since 2006, it has moved up by
developing independent apartments/villas, duplex housing and high-end
bungalows which are premium products and offer superlative margins in the
housing industry. We expect that on successful execution of these projects,
the top-line is likely to grow at a CAGR of 53.22% for FY07-FY12E.
Significant Player in Hyderabad
Hyderabad is emerging as a prominent space for commercial service sector
led by IT/ITES industry since it is providing quality cheap labour coupled
with sufficiently low-cost infrastructure, thus offering an ideal environment
for the industry. PESL is one of the major real estate developers in the city
with an experience of over two decades in real estate construction. As of
FY07, the Company has developed ~6.7 msf in 75 projects; pre-dominantly
into housing with alongside presence in commercial and hospitality segment
as well. Moreover, it has 825 acres of land bank (of which 80% is in
Hyderabad) at eFY07, translating into ~31 msf residential development, ~2.7
msf of commercial and some into hospitality and retail segment.
Valuation
We initiate coverage with a 'BUY' rating and a target price of Rs. 340. We
expect the topline to grow by 99.46% for FY08E, 63.40% for FY09E, and
36.93% for FY10E; growth largely contributed by quantum projects
commenced in FY08 coupled with favourable residential market in
Hyderabad. PESL is likely to maintain its EBIDTA margin to 40%+ level due
to positioning of its projects in the higher margin segment. The target price of
Rs. 340 implies a potential upside of 600% from the current level.

Unlimited freedom, unlimited storage. Get it now

      Share files, take polls, and make new friends - all under one roof. Go to http://in.promos.yahoo.com/groups/

Following is the 4th point in notes given in the 4th quarter result. I
feel uncomfortable about the company, on total sale of 344 crores they
dont have records for 143 crores. I am unable to digest it.

4. After the year end, basic records relating to sale agreements /
revenue and construction expenses of one of the Projects of property
development were lost at the site office, Vishakapatnam. The auditors
in their report have stated that they were not able to verify the
books and records relating to income of Rs 1437.710 million and
relevant construction cost of Rs 752.654 million. Management is making
all efforts to locate / retrieve the lost records.

On Jul 25, 11:37 am, Nice n cool 4 u only <reply_with_l...@yahoo.com>
wrote: