The mgmt of PEL is not at all transparent and investor friendly. They are not cheat/fraud, but their saga of provisions is never ending. Once they were “largely done” with the provisions. Regarding the land also, they showed huge potential, and now they are writing down its value. I guess it could be the land in Andheri for which they never shared what is the progress and what are they doing with it.
I am super disappointed with them. While there is great business opportunity and they are trying to build a profitable business around it, their “cleaning process” is never ending. I hope they deliver the guidance they have given and that creates some wealth.
Disc: Invested
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