thanks very much. spend a lot of time today analysing this. Rohit says they are cash flow negative till customers get loan approved and that is also very low figure. Vivek have u calculated the amount they receive in advance from customers because if advances are substantial in relation to the total cost of flat then company is very well placed. Also as vijay pointed out above he is making it very easy in terms of purchasing land, developing and selling. your thoughts please.
Why do they not pay any cash taxes. Are their any carry forward losses or anything to that extent. Was checking the cash flow statement but couldnât find anything under cash taxes paid
I did an extensive post on the their floats and float distribution the same can be read here I donât see a merit in copy pasting the entire post here
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Didnt get your question Annual FY14 has no non cash tax adjustment to calculate CFA
I meant in the cash flow statement there was no heading for taxes paid. Only deferred taxes. In the income statement they are showing taxes paid while there is no such entry in cash flow from operating activities. Would that mean they are not paying any cash taxes and its only an entry in the income statement ? Could you explain me further ??
thanks vivek. but want your view on one more thing. rohit poddar plans to sell 5 million sq. feet 2020 onwards, is it practical in your view.
In Indirect method of CF preparation only Non cash items are adjusted from PAT to arrive at CFO
Current year taxes are not adjusted so that means cash taxes were paid
Also look at Auditor comments in Annual Report
Dont know but I think its ambitious
Thanks Vivek. Will have a look
i would appreciate if someone has contact details of investor relations for the company. email id or phone number will help
i looked at their website and could not find anything
@rohitc99
I faced the same issue when I was trying to dig more information on this company. Though I still havenât found any investor relations contact, I now have email address of Rohit which he gave out in one of the conference call.
Not sure if it is a good idea to post the email address on public forum, so sending you on private msg.
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@punitm306 thanks a lot
Chandrakant Sharma is the investor relations guy. His id is-
chandrakant.sharma@poddardevelopers.com
Vijay
Here is summary of key messages from 2014-15 Annual report, 6 pages long so attaching as PDFPoddar - Value Pickr - AR2014-15.pdf (654.5 KB)
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@vivekbothra Any idea why they have changed their revenue recognition policy?
No Rohit
My Guess - Percentage of completion makes revenue more stable as with real estate long gestation periods would result in volatility in quarterly numbers
But the case of being wrong is high as well. It is based on estimates and more an accounting number, in my view.
Why has the advances gone down? Isnt it a worryâŚ
The affordable housing opportunity.
http://knowledge.wharton.upenn.edu/article/whats-holding-back-affordable-housing-in-india-2/