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Ganesh Housing Corporation Limited
Sector:Const/Bldg Material Const/Bldg Material - Construction - Housing/Industrial
Market Lot: 1Face Value: 10ISIN Demat: INE460C01014
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Business Profile
Ganesh Housing Corporation (GANESHSG) is engaged in the business of construction and real estate development in and around Ahmedabad. It was incorporated as a public limited company on June 13, 1991 and went public in November 1993. The company is part of the Ganesh Group, which has been in operation for more than four decades in the construction and real estate development business and created 16 million sq. ft. of residential space since its inception.

The ISO 9001:2000 certified company has completed residential projects like Ratnam, Maniratram, Maniratnam ? II, and Mahalaya and has completed the Rs 180 million mega project, International Pharma & Bio-tech Park, an industrial park for pharmaceutical and biotechnology companies in Ahmedabad. Some of the current residential projects include Maple County, Suyojan, Mahalaya ? II, Shangri-la and Shangri-la II.

The company has signed memorandum (MOU) of understanding agreements with the Government of Gujarat for setting up a special economic zone for IT and ITES called Million Minds, which will be a 13.5 million sq. ft. project in which 8 million sq. ft. will be business towers, 3.5 million sq. ft. will be residential development and 2 million sq. ft. will be utilized to construct a hospital, hotel, educational institutes, mall and other amenities. Another MOU is in place for establishing an integrated township under the banner of Smart City in and around Ahmedabad. Smart Homes come with digital security, solar passive architecture, and Wi-Fi enabled facilities. Sales representatives in Canada and USA cater to clients like the New York based Inter Pharma Inc.

The registered office is located at 1st Floor, Samudra, Off C.G. Road, Near Klassic Gold H. Ellisbridge, Ahmedabad-380006, Gujarat.

The company reported rise of 56.52% in standalone net profit on y-o-y basis to Rs 105.47 million, while total income increased 35.36% y-o-y basis to Rs 614.23 million for the quarter ended June 2014.

Recent Developments
HDFC Mutual Fund divested 0.79% stake in Ganesh Housing Corporation for Rs 18.59 million Monday. It sold 0.25 million shares at a price of Rs 72.

Ganesh Housing Corporation announced that its board of directors has recommended dividend of 14% or Rs 1.40 a share of Rs 10 each for the financial year 2012-2013.

Credit rating agency, ICRA has revised the rating assigned to the Rs 1.5 billion fund-based limits of Ganesh Housing Corporation (GHCL) from LBBB to BB+. The outlook on the long-term rating is negative.

Firstcall has recommended `Buy` on Ganesh Housing Corporation with a price target of Rs 203 as against the market price (CMP) of Rs 176 in its report dated Jun. 26, 2010.

Firstcall has recommended `Buy` on Ganesh Housing Corporation with a price target of Rs 213 as against the market price (CMP) of Rs 185.50 in its report dated Apr. 08, 2010.

In Brief

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