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Wednesday, Jul 05, 2006

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TTK Prestige: Up on performance hopes

The stock of TTK Prestige is being touted as a good investment bet and to be accumulated at declines. The stock has gained 12 per cent since last week.

TTK, which has repositioned itself as a kitchen solutions company, is the only one in this space to run branded retail outlets under the name `Prestige smart kitchens'.

Analysts maintain TTK Prestige has an expected compounded earnings growth of 52 per cent over the next two years driven by 20 per cent growth in revenues. The company plans to set up kitchen boutiques in the current fiscal. Having started production at Coimbatore facility in April , it is also putting up a new facility in Uttranchal during the current fiscal.

According to market sources, the company is to phase out its Bangalore facility this year, which should make available 2.85-lakh square feet of land in prime location for development. The counter, however, ended the day at Rs 102, down 2.15 per cent, on the BSE.

Deeptha Rajkumar

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