Ansal Properties can see 25-30% jump: SP Tulsian

 Investment Advisor, SP Tulsian is of the view that Ansal Properties can really give a breakout at any time. One can really see 25-30% jump in the share price if someone can keep a view of one month.

SP Tulsian told CNBC-TV18, “Even if I take their call or the presence in NCR and Tier III there are concerns for Tier III but I do not think there is now any concern for NCR region because we have been seeing demand picking up and if I go by the Q2 results of the company they had a topline of Rs 175 crore of bottomline of Rs 32 crore resulting in an EPS of close to Rs 280 so one can extrapolate this and expect an EPS of close to Rs 11-12 for FY10 which translates into a PE multiple of 6. I do not think the market cap of Rs 850 crore which right now of the company is really stretched and especially when we see the issues of too many IPOs coming in like Godrej Property which had a very stretch valuations. Taking all this into consideration this can really give a breakout at any time. We can really see 25-30% jump in the share price if someone can keep a view of one month."