loader2
Login Open ICICI 3-in-1 Account

Entry Price

187.00

Target

220.00

Recommend Date

31-01-2020

Return

17.65 %
BUY

Date : 31-01-2020

TajGVK reported healthy growth in revenue by 6% YoY amid general weakness in the economy. Revenues were at | 91.2 crore vs | 86.1 crore YoY. EBITDA margins expanded 140 bps YoY to 28.5% led by savings on the power & lighting front as well as reduction in repairs and renovation expenses from | 4.29 crore in Q3FY19 to | 3.75 crore in Q3YF20. EBITDA saw growth of 11.4% YoY to | 26 crore. The Taj Santacruz JV also saw a strong performance with PAT rising 85% YoY. TajGVK’s share of profit in the JV increased from | 1.1 crore in Q3FY19 to | 2 crore in the quarter. Thus, led by improving profitability, higher profit from JV and lower tax expenses, net profit surged 98% YoY to | 13.2 crore.