Anant Raj Ind an outperformer: Prabhudas Lilladher

Prabhudas Lilladher has maintained its outperformer rating on Anant Raj Industries with a target price of Rs 282, in its May 12, 2008 research report. "The company has a strong pipeline of projects and is currently working on two retail projects, two hospitality projects and one IT Park. Besides, it is also working on an SEZ project, which is likely to be completed by December 2009. It is also likely to embark on two residential projects and a few hospitality projects.."

"We expect strong growth of 52.9% and 111.5% in the company’s revenue over FY09 and FY10. The corresponding growth in PAT is likely to be 44.7% and 95% respectively. Our working of the company’s NAV stands at Rs 332. Our target price of Rs 282 is based on a 15% discount to NAV on account of the decline in peer group valuations. We maintain Outperformer rating on the stock," says Lilladher's research report.
 
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