Interesting. $500M equals around INR 4000 Cr. With guidance of 23-24% EBITDA and 20% PAT (Q1FY25), PAT could be around 800 Cr. If PE normalizes to 30-35x (for a very fast growing asset light company), valuation could possibly be around 24000-28000 Cr in FY27. And if (less likely) current valuations hold, this be 48000 Cr!! Still ~2-3x from current levels!
Invested from 200 levels. Biased.
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