Recommendation: Buy
CMP = Rs 581
Price target: Rs 970
Key points:
- Unity Infraprojects (Unity) has bagged two new orders worth Rs 222 crore. The first order totaling Rs 133.6 crore is for the construction of a mall and a hotel, whereas the second order worth Rs 88.3 crore is for the construction of five towers with basement and a podium.
- With these two orders, the company has bagged orders worth around Rs 450 crore in Q4FY2008. This implies its current order book stands at Rs 2,425 crore at the end of March 2008, which is a growth of 21.4% year on year (yoy).
- The prospects for Unity are very bright and I recommend Buy call on this scrip with a price target of Rs 970 over next 6 months.
