STOCK RECOMMENDATION - KAMANWALA CONSTRUCTION

KAMANWALA HOUSING CONSTRUCTION
BSE : 511131   CMP: 36   Target : 60 in 4 months
 

Kamanwala Housing Construction Limited (KHCL), a company with a 25-year track record, based at Mumbai
is into construction and development of commercial and residential buildi n g s . It owns the famous Filmistan studio in partnership and has been in news recently that it is selling the land for a whooping amount of Rs.600 cr. Kamanwala completed a commercial project “Pinnacle Corporate Park” at Mumbai’s most developing commercial hub Bandra Kurla Complex. Kamanwala’s Savoy Residence, a residential project of 60000 sq ft. in
Santacruz West has been completed. Work at Savoy chambers, a commercial project of 67000 sq.ft in Santacruz West is completed. Kamanwala is constructing 5 towers residential project in Malad West .They are developing SRA project at Mahim. Kamanwala owns 125000 sq ft of land in Oshiwara area. They are soon starting with development of 35 acres of land in Hyderabad. Kamanwala holds huge land in Noida and Turbhe as well. With total land asset of more than Rs.1000 cr, market is severely undervalued at 36 with market capital of Rs.45 cr.Considering the zeroing of debt the company has undertaken, completion of its various projects and its land bank, we recommend a STRONG BUY on Kamanwala with target of 60 in 4 months.