I agree with you that the bookings include JVs as well as projects where GP is development manager. However, this is just a back of the envelope calculation to arrive at a rough fair value. I tend to purchase only when there is at least 20% margin of safety.say at a MCap of 43,000 Cr (1550/share).
Having stated the above, if one has got the purchase price right, GP is a hold for the next years and a half at a minimum. I believe there will be surplus inventory in 2 years.
Please note this is NOT a buy or sell advice. I am NOT a SEBI registered adviser.
| Subscribe To Our Free Newsletter |
