TIRUPATI SARJAN LIMITED (531814) - STOCK OF THE WEEK

Dear Investor Friends, Today I am expressing my view on housing related company.

TIRUPATI SARJAN LIMITED (531814)

Tirupati Sarjan Limited is Gujarat based India’s one of the growing real estate company. Serving and Fulfilling Dreams of innumerable customers in the various cities of Gujarat. It is founded in in 4th January, 1995. Core objective of the company is to provide pre-eminent housing at affordable prices catering to the middle class Families of North Gujarat. As a group, company has executed over 100 projects during its tenure from its inception till date. Tirupati Sarjan Ltd (TSL) is an ISO 9001:2008 certified Company.  

Name TIRUPATI, is derived from the following abbreviations.

T – Trusted name I - Innovation R – Robust Structures U – Ultramodern

P - Pragmatic A - Ambitious T - Talented I - Insightful 

Company has expanded its operations in Residential, Commercial & Infra projects in Africa. Not only public but also Government authorities have utmost faith in company's projects. Company executed many landmark projects in Housing, Commercial & Infra Sectors Mainly in Kampala, Capital of Uganda (East Africa). From the year 2010 onwards, company has ventured into infra projects announced by the Government of Gujarat like Court building, Jilla Panchayat building, Engineering College, Medical Colleges, GMERS staff quarters, Cancer & Research Institute, Govt. Collage, GMERC Medical Collage, etc.

The company formed an infra division in 2008-09 with focus on Government projects. With rich experience of numerous projects, company has been awarded Central Government project an Education Hub located in a Union Territory, Diu. The company has planned to expand its activities in different states.

The Company have Subsidiary in Uganda, East Africa Since last 8 year with focus in residential, commercial, industrial and infra projects.

Company mainly working on four segments, mainly

1.    Residential

2.    Commercial

3.    Government Infra Projects

4.    International Projects

1.    Residential

Company has many executed projects and ongoing projects. These houses are for middle class family with all facilities and amenities. Mainly in Mehsana, Visanagar, Mansa and Palanpur Gujarat.

2.    Commercial

TSL has completed many commercial projects like Mall, Metro markets, Plazas. TSL has built commercial complexes in Visanagar, Siddpur, Patan, Palanpur, Bhiloda and Unjha.

TSL has one ongoing project in Vijapur – Tirupati Bazar.

3.    Government Infra Projects.

Company has executed many state Govt. Infra projects mainly in Hospitals, Medical Colleges, Police quarters, Education hubs in Ahmedabad, Kota, Diu, Aurangabad, Sabarkantha and Himmatnagar.

4.    International Projects.

Company has done many Residential projects in Uganda mainly under its subsidiary Tirupati Development Uganda Limited (TDUL).

SUBSIDIARY OF TIRUPATI SARJAN LIMITED

Tirupati Sarjan Limited has 69% stake in Tirupati Development Uganda Limited (TDUL). TDUL carry out the business of real estate development and civil construction. The company has successfully completed 10 commercial, residential, & Business Park phase- 1 with 150 warehouses for small and medium enterprises (SMEs).Tirupati Business Park Phase-1 is a pioneering project in Uganda. There are 4 new Projects in Pipeline which are partnered with UN and Government of Uganda for hospital, refugee housing Projects etc.TDUL has successfully completed projects worth USD 24 million approximately to sale and lease. In addition company has accumulated stock in real estate worth USD 15.7 million and undeveloped land assets totalling USD 9 million, aggregating an assets base of USD 25 million.

CUSTOMERS

Company is having Strong customers base from many Government agencies like Road and Building Department, Gujarat Tourism Corporation of Gujarat Ltd. Project Implementation Unit, Gujarat. Gujarat Police Housing Corporation Ltd. Central Public Works Department. Gujarat Energy Transmission Corporation Ltd. Narmada Water Resource & Water Supply Department. Himmatnagar Municipality. Gujarat Industrial Development Corporation. North Gujarat University

Company website: Clickhere

FINANCIALS AND OUTLOOK

Company shares are trading in BSE. Promoter holding in company 47.79%

Company posted 50.11 Cr top line in June Qtr

(280 % jump in top line compared to QOQ!!!!!).

Net profit is 19.4 Cr bottom-line in June Qtr

(120% times jump in bottom line compared to QOQ!!!!!).

Stock is trading low PE 10.6 as compared to industry PE (34) & major peers.

Dividend paying company.

Debt to equity ratio is 0.83

Stock is trading at Rs 22.

Company has performed and posted stellar set of number QOQ basis and grown 120 % on bottom-line numbers as compared to previous qtr numbers. Company is mainly engaged in small residential and government infra projects. As the Govt. pushing more on Infra projects and more and more funds are flowing is a huge positive for the stock.

Considering above and performance of the company stock will rerate and will give handsome returns to the investors in near future.

NOTE : THE ABOVE IS NOT A RESEARCH REPORT NOR A RECOMMENDATION  BUT INFORMATION AS AVAILABLE ON PUBLIC DOMAIN. 

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”