This 56 years old company is a realty developer and its main focus is the development of its Knowledge Park in Mumbai, spread over 23 acres. The development was split into four phases and it has completed three of these and the fourth phase work is on. So the earning which we now see comes from the three phases, which has been let out to MNCs and other companies. The fourth phase is an IT Park and this is expected to start generating revenue from current fiscal.

The stock yesterday, after the announcement of the Q2FY15 results hit a new high at Rs.169 though later in the day, it closed in the negative. Sequentially, its net profit for the quarter has grown 18% though YoY, it has risen 2.6 times. The 8 times (YoY) rise in other income and exceptional income due to write back of property tax helped boost the bottomline. With respect to its operating cost, 53% is on account of depreciation and 20% is towards Property Maintenance cost.