Looks like an interesting opportunity. The sum of companies future PAT over next 7-8 years = current market cap. They operate in the niche redevelopment market with high margins (~40%+). The company has 13 ongoing projects, 16 planned projects and about 10,000 sq.mtrs of land reserves for future projects.
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They are expecting a surplus of 850 crores from the 13 ongoing projects (please see this interview around 8:30- https://www.youtube.com/watch?v=1a5543wEgDE),
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16 ongoing projects have 7.5 lakh Sq.ft saleable carpet area. Given the location of these projects, can expect a minimum realisation of 40,000/sq.ft. and hence EBITDA margin of ~16,000 sq.ft. (as margins are 40%+). Potential EBITDA from these 16 projects is 1200 crores
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Additional land reserves can be conservatively valued at 250 crores as on date
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