Neptune Developers and Reliance Power

Mumbai based reality developers Neptune Developers plan for an IPO in short span to collect Rs 495 crore for its ongoing project and to clear its current debt. It has filed prospectus with SEBI for 495 crore. Neptune Developers is a biggest share holders in major concern like NMS Holdings Pvt Ltd (32.98% stake), Nayan Bheda (15.77%), Sachin Deshmukh (15.16%), IndiaREIT Enterprises Holdings Limited (10.97%), Alpex International (7%), Nayan Shah (6%) and Mahesh Shetty (6%). At present the company completed three projects with an aggregate of 14 lakh sq ft with salable sq ft of 14. 47 lakh sq ft. For the year ended March 31 2009, company net profit stood at 9.16 crore on total income of 15.92 crore. For the quater ended june 2009 company net profit at 3.75 crore on net income of 5.49 crore. As the real industry has a good bloom in the near future Neptune Developers will be one of a reality company to invest in the period. ND has debt of Rs 319.64 crore which will be cleared by issuing IPO, the net profit will stood at high percentage ever as the expense for interest will be reduced tolerably.
This is for a long term investment as the Reliance Power company has seen more down in the past as there will be no downturn in the coming future is expected to double itself within the next two to three years. As power sector is an evergreen and has good growth for this sector research analyst recommended Reliance Power to buy compared to other power companies as they have not seen such downs as Reliance power and they have more probability for downturn compared to Reliance power.

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