For FY08, its total tax outgo was also maintained at Rs.73.18 crore as against Rs.74.06 crore in FY07. But what is significant here is that it made its entire tax provisioning in Q4 FY08 which saw a huge outgo at Rs.49.85 crore and this led to the PAT in Q4 being at the lowest levels when compared to the remaining three quarters of the year. Its PAT for Q4 was at Rs.29.41 crore and it ended the year FY08 with a PAT of Rs.148.55 crore. On an equity of Rs.75.56 crore, it ended the year with an EPS of Rs.4.01 on a face value of Rs.2 per share.
Continued buoyancy, especially in the Bangalore and Mumbai markets, led to the company performing better and as per current trends, is poised to continue with the growth in the current year inspite of the slowdown in the US and European economies from where most of the corporate an leisure travelers originate.
The various projects under implementation are progressing well with Gurgaon opening in October 2008, Udaipur in January 2009, Chennai in October 2009 and Chanakyapuri Delhi in 2010.
The stock has remained more or less lackluster at Rs.38-39 levels for the past whole week, which is more or less at its low of Rs.37. No major spurts are expected in the short term. Stay invested with a long term perspective.