Century Textiles was recommended as our Buy call at Rs. 497 on 2nd June, 21, having given a gain of 52% already in 2 months, while best is yet to come. "Key approvals obtained - IOD for Century Mills, Worli. Commencement Certificate (CC) & RERA approval for Birla Vanya Phase 2, Kalyan" is key for this bullish view.

To launch a new construction project, a Developer has to obtain, IOD, CC (Commencement Certificate) and RERA approval. Industry circle is expecting CC in the next 45 days and RERA approval in next 45 days thereafter. Diwali is 3 months away from here, while both the permissions are expected to be received by Diwali, enabling the company to launch its Worli Project by this Diwali. Worli Project is an ultra modern project, on 30 acres of land, with saleable area of about 34 lakh sq. ft residential ( to be fully sold on ownership basis) and commercial of 8 lakh sq. ft (to be owned by the company and leased out on completion).

Insiders are saying that launch of the project will be made on a Mega scale, with ultra modern amenities and environment compliant infrastructure, with multi storeyed towers, with 3BR, 4BR and 5BR residential flats. Company is expecting BIG response from Ultra Rich of South and Central Mumbai, while Worli and Prabhadevi in Central Mumbai are now seen happening centres of ultra modern residences.

Hence, take rise of Rs. 270 in share price, in last 2 months, as Half Marathon only having completed. Launch of this project will also take company in the BIG 5 Developers of Mumbai.

This is not a Buy or Sell recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.