Hi,

I am planning to sell Ireo skyon for 9000 per sq feet , please advise if its a good rate or shall I wait for some more time ?

Also advise some good projects to re invest in case I sell Ireo Skyon

Thanks
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  • what size?

    Originally Posted by haritkalra
    Hi,

    I am planning to sell Ireo skyon for 9000 per sq feet , please advise if its a good rate or shall I wait for some more time ?

    Also advise some good projects to re invest in case I sell Ireo Skyon

    Thanks
    CommentQuote
  • Pratibha Ind bags orders worth Rs 1,492 cr, stock up 9%

    Shares of infrastructure services provider Pratibha Industries gained as much as 8.7% intraday on Monday as company has received orders worth Rs 1,492 crore in tunnelling and building division.
    According to release sent to exchanges, Its tunnelling division bagged a contract worth Rs 1,089.59 crore from DMRC and building division secured a contract of Rs 345 crore from IREO Private Limited for the construction of group housing project 'SKYON' at sector 60 Gurgaon.

    At 10:46 hours IST, the share was trading at Rs 48.40, up 4.42% amid large volumes.

    Its trading volumes increased 279% to 1,34,804 equity shares as compared to its 5-day average of 35,560 shares.

    Market capitalisation of the company currently stands at Rs 489.11 crore.

    :bab (48):
    CommentQuote
  • Interesting to note that in today's world of Real Estate where Builders are using every opportunity to showcase L&T and likes as their contractorsto gain investors confidence, here is a different example where the share price of a contractor gains 8% by getting a contract from a prominent Builder.




    Originally Posted by Designer
    Shares of infrastructure services provider Pratibha Industries gained as much as 8.7% intraday on Monday as company has received orders worth Rs 1,492 crore in tunnelling and building division.
    According to release sent to exchanges, Its tunnelling division bagged a contract worth Rs 1,089.59 crore from DMRC and building division secured a contract of Rs 345 crore from IREO Private Limited for the construction of group housing project 'SKYON' at sector 60 Gurgaon.

    At 10:46 hours IST, the share was trading at Rs 48.40, up 4.42% amid large volumes.

    Its trading volumes increased 279% to 1,34,804 equity shares as compared to its 5-day average of 35,560 shares.

    Market capitalisation of the company currently stands at Rs 489.11 crore.

    :bab (48):
    CommentQuote
  • So far, IREO has always maintained that they are in discussion with L&T and Billimoria...but Order given to Pratibha...

    without commenting on reputation of Pratibha ... its much lower compare to L&T or Billimoria...

    Disappointed with IREO.... will hv impact on resale price... feel I should exit from Skyon...
    CommentQuote
    0 Comments
    • rdsharma1 years ago
      Are you still holding flat in Skyon?
  • Originally Posted by rushilarora
    Interesting to note that in today's world of Real Estate where Builders are using every opportunity to showcase L&T and likes as their contractorsto gain investors confidence, here is a different example where the share price of a contractor gains 8% by getting a contract from a prominent Builder.



    Skyon went to pratibha ???????????????? :( :( :(

    I am sure they'd do a good job but Ireo it seems has started veering a little towards typical builder mentality. First additional floors in uptown, then LG spilt units and now, Flagship skyon to pratibha.. this should have been a total Shapoorji project!!!
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  • rushil jee .. its very usual for market to react on news of order inflows for a construction company...nothin related to reputed builder i guess...

    getting 1500 crore order is the big news on which share price are reacting...also market cap of pratibha is just 500 odd crores..plus 1200 crore from DMRC..investors know that this 1200 crore would be executed and cashed in next couple of years time..

    Originally Posted by rushilarora
    Interesting to note that in today's world of Real Estate where Builders are using every opportunity to showcase L&T and likes as their contractorsto gain investors confidence, here is a different example where the share price of a contractor gains 8% by getting a contract from a prominent Builder.
    CommentQuote
  • Originally Posted by St_Anger
    Skyon went to pratibha ???????????????? :( :( :(

    I am sure they'd do a good job but Ireo it seems has started veering a little towards typical builder mentality. First additional floors in uptown, then LG spilt units and now, Flagship skyon to pratibha.. this should have been a total Shapoorji project!!!


    agreed..with likes of L&T, shapoorji...construction quality and timing would have been guaranteed...with Pratibha its like taking a chance..
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  • I think too early to comment on Pratibha being the reason for the price coming down of SKyon. Ireo had always maintained that one of the contractors in line was pratibha. I had updated the same in "Oops" thread 2 months back .

    Besides Pratibha is no small builder. Its in the top 5 contractors in India and there is no difference in quality and timely possession issued with them.

    Presidia and Uptown are the two projects that they are already executing on as per schedule and if you go by the premium both these projects are commanding right now, "Pratibha" has had no effect on the price front and on the "Pratibha" of Ireo so far.

    For me atleast the construction would begin anytime soon now which is the most imp news for me from this development.

    RA.
    CommentQuote
  • Originally Posted by rushilarora
    I think too early to comment on Pratibha being the reason for the price coming down of SKyon. Ireo had always maintained that one of the contractors in line was pratibha. I had updated the same in "Oops" thread 2 months back .

    Besides Pratibha is no small builder. Its in the top 5 contractors in India and there is no difference in quality and timely possession issued with them.

    Presidia and Uptown are the two projects that they are already executing on as per schedule and if you go by the premium both these projects are commanding right now, "Pratibha" has had no effect on the price front and on the "Pratibha" of Ireo so far.

    For me atleast the construction would begin anytime soon now which is the most imp news for me from this development.

    RA.



    I dont think prices will go down with the pratibha factor.. but yeah its a little "downer" nonetheless.. We expected better !!! :(
    CommentQuote
  • Originally Posted by St_Anger
    I dont think prices will go down with the pratibha factor.. but yeah its a little "downer" nonetheless.. We expected better !!! :(


    Hi
    Greetings

    How much payment has been taken by the builder??

    Cheers
    CommentQuote
  • Originally Posted by rushilarora
    Interesting to note that in today's world of Real Estate where Builders are using every opportunity to showcase L&T and likes as their contractorsto gain investors confidence, here is a different example where the share price of a contractor gains 8% by getting a contract from a prominent Builder.


    I guess people working in Stock market would be able to put more insight but my 2 cents :

    Its more to do with the assured orders of DMRC rather than IREO, as DMRC orders carry more weight in the market, getting orders from DMRC is no mean achievement. DMRC has time and again said that there is acute shoratage of quality construction companies and they cannot load L&T with all the work. Whereever L&T backs out, other firms gain. Also getting order from DMRC is like fast tracking the organisation into the bigger league wherein they compete with the Big Boys of construction Industry. I am not saying IREO order does not matter, but the increase in share prices is directly linked to DMRC order. Pls also see the total turonover of the contractor and the size of orders bagged. It will increase its PAT by min 40% in the next two years, hence this increase in share prices.
    CommentQuote
  • I don't think Pratibha has done anything bad with Uptown. Looking at the quality of construction they are providing in Uptown, we can easily see that they are at par with L&T, shapoorji etc.

    Its only that they don't have a brand name, which help them in giving good pricing in tenders and it is an advantage to the builder as well.



    Originally Posted by rushilarora
    I think too early to comment on Pratibha being the reason for the price coming down of SKyon. Ireo had always maintained that one of the contractors in line was pratibha. I had updated the same in "Oops" thread 2 months back .

    Besides Pratibha is no small builder. Its in the top 5 contractors in India and there is no difference in quality and timely possession issued with them.

    Presidia and Uptown are the two projects that they are already executing on as per schedule and if you go by the premium both these projects are commanding right now, "Pratibha" has had no effect on the price front and on the "Pratibha" of Ireo so far.

    For me atleast the construction would begin anytime soon now which is the most imp news for me from this development.

    RA.
    CommentQuote
  • enclosed is the full press release by pratibha...timeline for skyon is 31 months as per the release...
    also they have bagged another contract for a commercial from Raheja's
    CommentQuote
  • Well , this is dissapointing..

    Skyon's construction had to start anyways but Pratibha as a contractor can not be compared with Shapoorji or L&T interms of quality , execution and excellence.Quality of work , overall appearance , compliance can be compared by visiting the site of Pioneer Park , whose contractor is Pratibha and Grand Arch which is taken care by L&T.
    I feel , now the rates will appreciate accordingly.A brand name is a strong reckoner and for sure Pratibha can not be rated in the top league of Shapoorji ( TATA's sister concern ) or L&T.
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  • I think between GA and IVV, Skyon is the least complicated project as far as execution is concerned. There is just one tower that is 42 stories high and rest are small midrises. In terms of concept and design its not so unique as the other two mentioned above.

    Tall tower is designed like Swastik and that is the only Wow part of it. Hence Ireo might have thought of contracting it to Pratibha.

    Secondly if Ireo is planning some more Unique projects in Ireo City then they would like to reserve L&T, SP etc for them . They wont put all their eggs in one basket.

    I am sure there are many brokers in the market who have been hard selling Skyon by quoting names like L&T and SP to garner more premium. This would be a dampener for them and also for those who bought Skyon by blindly believing them.

    For me start of construction would be a good news and L&T or Pratibha dosent make any difference. Both of them will deliver what Ireo wants to get delivered. They wont put any extra money from their pocket.

    Lastly, fortunately we all are not living in the world of Virus Sahastrabuddhey (of three Idiot), where any body who is second is a looser and is no body.

    We need more and more of quality contractors to deliver these projects and I guess Pratibha is right up there already.

    RA
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