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Hotel Leelaventure (Q4 FY10) – MP (Target Rs52, Upside 6.1%)
India Infoline Research Team / 08:59 , May 26, 2010

CMP Rs49, Target Rs52, Upside 6.1%

  • Revenue rise of 26% yoy in line with our estimate of Rs1.3bn, driven by improved occupancies
  • Higher revenue per available room (RevPar) lead to improved margin
  • Lower effective tax rate, rise in EBIDTA % helps company post a pre-exceptional profit in Q4 vs. loss a year ago
  • Reduce FY12 EPS estimate on lower OPM assumption but retain Market Performer with a TP of Rs52
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