Query: What is the future of Noida Toll Bridge? Pramod RajThebullishtrends: Noida Toll share price closed today at Rs.73. The Noida Toll Bridge Company Ltd. (NTBCL) has been promoted by Infrastructure Leasing and Financial Services Ltd. (IL&FS) as a special purpose vehicle (SPV) to develop construct, operate and maintain the DND Flyway on a Build Own Operate Transfer (BOOT) basis and incorporated in Uttar Pradesh, India, in 1996 and operates only in India.
DND Flyway grew out of a need to bridge the growing population of Delhi with its neighbours across the Yamuna.Today, 30% of Delhi's population lives in the Trans-Yamuna area and there was a need to build a major connecting facility between the areas growing on both sides of the Yamuna. The Flyway, an outcome of innovative technical and financial engineering, has been built with due care for environmental concerns. The project was commissioned on February 7, 2001, almost 4 months ahead of schedule and broadly within the budget.
Noid Toll Bridge has seen an overall 15% growth in traffic volumes. This is expected to continue, given the increasing development activity in Noida and rise in the number of corresponding commuters. NTB is also constructing a fast link between Mayur Vihar and Noida; one side of it was thrown open to commuters in July.
NTB was awarded the project on a BOT basis. NTB also has access to developmental rights of over 200 acres as part of these projects. Financials: The company’s operating income comprises revenues from the toll it collects and hoardings/advertisements on the routes it has developed.
NTB posted healthy results for Q2 Operating profit margins have been increased from 10-13% Q on Q. and posted net profit of Rs.8.18 Cr compared to previous quarter was only Rs.6.55 Cr which includes Rs.4 Cr other income. Turnover also rose from Rs.14 Cr to Rs.17 Cr.
While the company’s financial performance has continuously improved over the past few quarters, its Q2 net profit translates into an annualised EPS of only Rs 1.18(trailing twleve months) due to its large equity base. Even the surplus land bank, which the company intends to develop over the next couple of years, is not expected to immediately add to its bottomline.
The number of vehicles are also getting added 80,000-85,000 vehicles per day passing on the bridge and the toll collection going up to around Rs 60 crore this year and bottom around Rs 22 crore,it’s net profit for 2007-08 will atleast double from what it was last year that is around Rs.11crore.
We feel that the company is also awaiting a couple of consensus from the government which should come through very soon. The number of vehicles are also getting added 80,000-85,000 vehicles per day passing on the bridge and the toll collection going up to around Rs 60-65 crore this year and bottom around Rs 22 crore.
Noida Toll will have bright future for the next 2-3 years, we are positive for this stock but technically the share price reached today 52 weeks high, hence you are adivsed to enter in a better price levels.
DND Flyway grew out of a need to bridge the growing population of Delhi with its neighbours across the Yamuna.Today, 30% of Delhi's population lives in the Trans-Yamuna area and there was a need to build a major connecting facility between the areas growing on both sides of the Yamuna. The Flyway, an outcome of innovative technical and financial engineering, has been built with due care for environmental concerns. The project was commissioned on February 7, 2001, almost 4 months ahead of schedule and broadly within the budget.
Noid Toll Bridge has seen an overall 15% growth in traffic volumes. This is expected to continue, given the increasing development activity in Noida and rise in the number of corresponding commuters. NTB is also constructing a fast link between Mayur Vihar and Noida; one side of it was thrown open to commuters in July.
NTB was awarded the project on a BOT basis. NTB also has access to developmental rights of over 200 acres as part of these projects. Financials: The company’s operating income comprises revenues from the toll it collects and hoardings/advertisements on the routes it has developed.
NTB posted healthy results for Q2 Operating profit margins have been increased from 10-13% Q on Q. and posted net profit of Rs.8.18 Cr compared to previous quarter was only Rs.6.55 Cr which includes Rs.4 Cr other income. Turnover also rose from Rs.14 Cr to Rs.17 Cr.
While the company’s financial performance has continuously improved over the past few quarters, its Q2 net profit translates into an annualised EPS of only Rs 1.18(trailing twleve months) due to its large equity base. Even the surplus land bank, which the company intends to develop over the next couple of years, is not expected to immediately add to its bottomline.
The number of vehicles are also getting added 80,000-85,000 vehicles per day passing on the bridge and the toll collection going up to around Rs 60 crore this year and bottom around Rs 22 crore,it’s net profit for 2007-08 will atleast double from what it was last year that is around Rs.11crore.
We feel that the company is also awaiting a couple of consensus from the government which should come through very soon. The number of vehicles are also getting added 80,000-85,000 vehicles per day passing on the bridge and the toll collection going up to around Rs 60-65 crore this year and bottom around Rs 22 crore.
Noida Toll will have bright future for the next 2-3 years, we are positive for this stock but technically the share price reached today 52 weeks high, hence you are adivsed to enter in a better price levels.
