Patel Engineering MoU, Anant Raj Acquisition And Chavda Infra Order
Patel Engineering Ltd.
Recent filing: (MoU) Patel Engineering has signed a Memorandum of Understanding (MOU) with Rail Vikas Nigam Limited (RVNL), a Navratna CPSE under the Ministry of Railways, to establish a strategic partnership for jointly executing hydro and other infrastructure projects both in India and internationally. The MOU outlines a framework for collaboration, where both parties will leverage their respective strengths in infrastructure and rail/transport projects.
SUMMARY: 5y Operating Profit uptrend | PE 20.9x (Sector PE range 10-50) | Fund Raise | Institutional Entry | Ace Investor | Strategic Partnership | Order book of INR 17,902 Cr (Jun-24), 4x of TTM revenue | Infrastructure
FUTURE OUTLOOK: As per Q1FY25 Concall, Company plans to bid for nearly INR 50,000 Cr worth of projects, expecting to secure INR 10,000-12,000 Cr in new orders within the next year. As per FY24 Concall, Company is expecting revenue growth of 10% to 15% in the coming year | Company also anticipating a higher growth rate of at least 20% to 25% in FY26 due to new orders expected to be received in FY25.
- MCap of INR 4,812 Crore (share price = 57 INR / share) (as on 30th Aug ‘24)
- TTM PE 20.9x (as on 30th Aug ‘24) Retail float = 34% (Jun-24)
FOOD FOR THOUGHT: Jun 24 Quarterly results of the company were average
Q1. What are the Products and Services offered by Patel Engineering?
Patel Engineering Limited, founded in 1949, is one of the major Infrastructure and Construction service company in India. It has a breadth of experience encompassing all sectors of infrastructure industry from dams, tunnels, micro-runnels, hydroelectric projects, highways, roads, bridges, railways, refineries to real estate and township.
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Anant Raj Ltd.
Recent filing: (ACQUISITION) Investment Committee has approved the acquisition of 100% equity shares of Sheetij Properties Private Limited, engaged in the business of development of real estate and is having Partnership interest in LLP namely Fortunea Infrastructure LLP which has land holding of approx. 11.35 acres in Sector 63A, Gurugram, Haryana, where the Company has one of the largest development projects namely Anant Raj Estate.
SUMMARY: 4y Operating Profit uptrend | 4q Operating Profit uptrend | Excellent Jun-24 results | PE 68.9x (Sector PE range 50-100) | Fund raise | Partnerships | Acquisition | Institutional entry | Realty | Data Center
- MCap of INR 20,712 Crore (share price = INR 606 / share) (as on 30th Aug ‘24)
- TTM PE of 68.9x (as on 30th Aug ‘24) Retail float = 8.5% (Jun-24)
FOOD FOR THOUGHT: Negative operating cash flows for FY24
Q1. What are the Products and Services offered by Anant Raj Limited?
Anant Raj Limited is one of the largest real estate developers in Delhi and NCR Region. It has taken substantial projects from DDA and other governmental departments. Its diverse range of businesses encompasses various ventures, including Residential Townships, Group Housing, Commercial Developments, IT parks, Malls, Office Complexes, Affordable Housing, Hospitality and Data Centers.
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Chavda Infra Ltd.
Recent filing: (ORDER) Chavda Infra has bagged a work order worth INR 72 Cr for Construction of Commercial Building (ORCHID FINSBURY), needs to be completed in 24 months.
SUMMARY: 3y Operating Profit uptrend | 1h Operating Profit uptrend | PE 23.3x (Sector PE range 10-50) | Excellent Mar-24 results | Order book of INR 985 Cr as on 29 Aug 2024 (4x of TTM revenue) | Infrastructure
- MCap of INR 437 Crore (share price = INR 177 / share) (as on 30th Aug ‘24)
- TTM PE 23.3x (as on 30th Aug ‘24) Retail float = 25.2% (Mar-24)
FOOD FOR THOUGHT: Negative operating cash flows for FY24
Q1. What are the Products and Services offered by Chavda Infra Limited?
Chavda Infra Limited, headquartered in Ahmedabad, is a part of the Chavda Group and specializes in civil construction. It is into execution of residential and commercial construction projects on a contract basis, offering a wide range of services across the construction value chain, including planning, design, construction, and post-construction activities.