Ambitious Nitesh Shetty wants to Build his Big Empire on Weak Fundamentals if you have to believe in cRISIL rating for his company Nitesh Estates.
CRISIL Said,
CRISIL has assigned a CRISIL IPO Grade "2/5" (pronounced "two on five") to the proposed initial public offer (IPO) of Nitesh Estates Limited (NEL). This grade indicates that the fundamentals of the IPO are below average relative to other listed equity securities in India.
Pathetic Margins
NEL’s operating (OPBDIT) and net margin in FY09 were low at 7.6 per cent and 3.2 per cent, respectively, due to low-margin contractual income and high corporate expenses compared to its revenue.
I too want to float an IPO of My Apartment Project. LOL
