Buy for Oct 19th on Dip ( Supreme Infrastructure India )

By CROW -

Vikram Sharma, Managing Director of Supreme Infrastructure India said they have a current order book of Rs 450 crore. He sees FY08 topline at over Rs 150 crore and FY09 at over Rs 220 crore.

He expects FY08 profits at over Rs 30 crore, while FY08 EPS is seen at Rs 18-22. Rs 110 crore worth of orders are to be executed in Q3 and Q4, he said.

The company had entered capital market with an initial public offer (IPO) of upto 34,75,000 equity shares of Rs 10 each for cash. The issue was oversubscribed around 52.53 times.

The proceeds of the proposed IPO are to part-finance its expansion plans, mainly for adding capacities in its RMC plants and meeting its long-term capital requirements. SIIL also plans to foray into the construction contracting activity in the real estate projects.

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