I don’t think its a big bargain.
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Project launches over next 7-8 years doesn’t mean completion.so, it could take another 2-3 years more to realize the entire cash flows.
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7-8yrs from now could be end of real estate cycle and there could be project delays as well
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while its difficult to calculate today’s NPV as the timing of cash flows is not known. Assuming 25% tax rate, a discount rate of even 15% (should be higher for real estate), and 24,000cr is realized equally in yr 4 & 8 , todays NPV is about 8000cr.
At a discount rate of 18%. NPV would be 7000cr
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