Binny Ltd - own property in the heart of Chennai at 1/10th the cost!


(Dhaliwal) #186

@anandr Thanks a lot for your inputs.

My current assessment is that the management is not from the best one can get. But, majority of companies with lower stock price are suffering due to bad management. The interest rate issue was actually pretty alarming sign of management fooling shareholders. It is good that they agreed to resolve it.

And, about the large investor talking about keeping the stock for next generation, I would keep it till the time it reaches 1000 level.

Disc: Invested around 220.


(kdjolly) #187

Any idea when the stock will come out of category Z?


(Hemant V Bhatia) #188

Moving out of Z category on Dec 12
http://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20171204-2


(Bheeshma Sanghani) #189

Well at least the uncertainty surrounding non reporting of results seems to be dissipating.

http://www.bseindia.com/xml-data/corpfiling/AttachLive/27790680-248b-4025-934a-48017aac2f90.pdf


(anand) #190

Sep 2017 Results
http://www.bseindia.com/xml-data/corpfiling/AttachLive/d64728b3-e346-4a29-8599-298023a54c72.pdf


(piyush sarawagi) #191

Hi sir,
Please help us understand, where do we get this update from?

I checked corporate announcements but was not able to find it there.


(Bheeshma Sanghani) #192

The data is freely available on the environmental clearance website. I have posted the link to the document somewhere in the previous posts but you can google it as well.


(anand) #193

The 4.65% of shares (acquired by the debt tribunal months ago) have been transferred back to the promoter according to the latest disclosure
http://www.bseindia.com/xml-data/corpfiling/AttachLive/066CABB1_947F_41D0_A00A_4F7EDB174814_171845.pdf


(Bheeshma Sanghani) #194

I was just going through the TN RERA website ( http://www.tnrera.in/reg_projects_tamilnadu.php ). It is difficult to believe that a STATE as large and diverse as Tamil Nadu has only 278 projects that are ongoing and warrant registration under RERA. In contrast , Pune district has more than 3900 projects registered under RERA (https://maharerait.mahaonline.gov.in/SearchList/Search ). The data defies logic and I am trying to make sense of it.


(Krppi Jain) #195

Binny Limited has informed BSE that the Board of Directors at their meeting held today (January 03, 2018), inter alia,transacted the following business:
considered and approved the proposal for sale of Company’s Coal Yard Property (Part) to an extent of 33 grounds and 523.712 Sq.Ft. situated at Govindan Street, Perambur, Chennai - 12 for a consideration of Rs.25.50 Crores to M/s.Everwin Educational and Charitable Trust (Everwin School Group), Kolathur

considered and approved the cancellation of the Agreement dated 05.12.2014 entered into with Mr.S.Varadharajan and Ms. V. Kanagalakshmi for purchase of land to an extent of 1 Ground and 1637 Sq.Ft. (4037 Sq.Ft.) situated at Perambur High Road, Jamalia, Perambur, Chennai 12 for a consideration of Rs.2.42 crores


(Dhaliwal) #196

I know we don’t discuss stock movements (and mainly fundamentals) but Binny had convincingly crossed 300, then slipped back to 240. Then, it jumped again to 270 and now back with two lower circuits.

Anyone has any idea why there are such strong moves on either side for this stock?

I have invested at 220 and planning to invest more. However, it is difficult to understand what point would be good for entering.


(blueg_reen) #197

When is binny planning to show some earnings from all these projects. QoQ they’ve been showing flat revenue only.


(Bheeshma Sanghani) #198

Some interesting announcements by Binny


(blueg_reen) #199

Again no revenue this quarter. No revenue till date for financial year. Reiterating my previous question, Anyone knows what’s happening? This is more and more turning out to be like the company was broken up to 2 entities with the plan of selling off the assets just for promoter/founders pockets.

Disc- invested


(Bheeshma Sanghani) #200

Borrowing of additional 100cr and amendment and restatement of the JDA are the two developments. The restated terms of the JDA would be the main development to watch out for because the revenues would flow from there. As of now therr is no clarity.


(anand) #201

Environment clearance in Jan 2018. Confused as to what the earlier EC meant.
http://environmentclearance.nic.in/writereaddata/FormB/agenda/23012018J2DBWRLW264minutes.pdf

Pollution control clearance in Dec 2017.
http://tnocmms.nic.in/OCMMS_REPORT/u...nted1/10493483

The builder SPR has rebranded recently, Feb 2018, now going by the name SPR Highliving.

Another interesting development in the Metro Phase 2 of chennai.

The metro planners seem fully aware of the traffic potential in the binny township area and have routed their metro plan accordingly. You can notice a U bend in the latest map below. The metro appears to cut thru (or pass by) the township. I may be wrong, but a few on this forum tend to think so too.
http://www.skyscrapercity.com/showthread.php?p=145023011#post145023011

chennai metro phase 2 study by the government
https://www.jica.go.jp/english/our_w...0000bqniq7.pdf

Chennai metro phase 2 proposal map.
Binny township should be somewhere in the centre of the highlighted circle


(Marathondreams) #202

@bheeshma,

I always wonder how one can buy shares of such companies where daily transaction volume is very small. Since earlier in the forum you have mentioned that you have quite substantial exposure to this stock. Can you share how you did it? daily buying small quantity at market price?

Disclosure - not invested, but interested after reading forum blog


(anand) #203

Got a call from the marketing dept. The builder has apparently resumed bookings for the residential.blocks. MOI yet to resume.

Price per sq. ft. has been raised to Rs. 7000 for the apartments. It was at 6500 before.


(Bheeshma Sanghani) #204

Hi @Marathondreams

In illiquid cos, one needs to generally build a position over a stretch of time. Same is the case if you want to exit or trim. I had a large position relative to my portfolio before the operating landscape for realty changed. Now i have a small one. The issue is lack of clarity on market of india. I think the promoters have the right intent but there are a lot of regulatory hurdles. The plot is very lucrative and in a rare location well suited for commerce. That has kept my interest alive and will re-evaluate once i get further insights. As of now i dont have any clarity on what the future holds for binny so am unable to have a directional view on the business.

Best
Bheeshma


(sri krishna bhutra) #205

Hi,

I had a discussion with their marketing team today. They have restarted booking which had previously stopped last year due to delay in approvals. Project had received approval from CMDA 7-10 days back. 7000 rs is current price. Last sale price at market of India was 12511per sq.ft. Booking for next part of market of India to start soon. They are using some form of rapid construction technology and hence committing to April 2020 (though, I am sure that it would be difficult). They are expecting to receive Rera approval in 1-2 weeks.

Regards
Krishna