@wisecraft True. Frankly the only real risk is whether the declared numbers are genuine. It is a UP based realtor after all!
But at these valuations, from a pure risk-reward point of view, Eldeco seems to be a steal with very little downside risk. I mean they have 50% of their market cap in cash and bank balances and are generating positive cash flows and awesome return ratios - lots and lots of margin of safety.
I have picked up a small tracking position and may add some more soon with a 3-4 year horizon, looking for a 3-4 bagger. But will not allocate more than 3-4% of the PF to it at best.