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Land and property - snapshot

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Land and property - snapshot

Post by First Guy on Fri Jul 31, 2015 11:53 am

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The top four in the list stand out having identical P/B and P/CFO (own calculation)

For property sector, how much cash they make, specially from rental income matters a lot and not the fair value gains. Unless the highly valued property are not able to generate income, it should not trade higher (eg: CSD)

P/E and ROE will be distorted in this case due to fair value gains so it's better to look at cash flows.

Even after moving up rapidly, CTLD gives a good DY with increasing dividends.

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Re: Land and property - snapshot

Post by First Guy on Wed Aug 12, 2015 8:21 pm

CTLD has been gradually moving up (below everyone's radar?)
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Re: Land and property - snapshot

Post by pathfinder on Wed Aug 12, 2015 8:59 pm

First Guy wrote:CTLD has been gradually moving up (below everyone's radar?)
You can't say so Wink
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Re: Land and property - snapshot

Post by First Guy on Fri Aug 28, 2015 7:52 am

First Guy wrote:CTLD has been gradually moving up (below everyone's radar?)

Now 55/- + Wink
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Re: Land and property - snapshot

Post by slstock on Fri Aug 28, 2015 7:54 am

And I sold my 1000 share at Rs 37 ( but invested in somethign else which also rose)

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Re: Land and property - snapshot

Post by First Guy on Fri Aug 28, 2015 7:56 am

slstock wrote:And I sold my 1000 share at Rs 37  ( but invested in somethign else which also rose)

Yes there were many which had good runs. CTLD held on during these rough times too. Now it's nearing NAV so have to be watchful
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Re: Land and property - snapshot

Post by Antonym on Fri Aug 28, 2015 6:04 pm

First Guy wrote:
slstock wrote:And I sold my 1000 share at Rs 37  ( but invested in somethign else which also rose)
Yes there were many which had good runs. CTLD held on during these rough times too. Now it's nearing NAV so have to be watchful
Less than four year ago, when CTLD was severely undervalued, I bought a few shares under Rs 29. Since then, it has given me a decent dividend yield (average 7%, increasing each year).
I generally invest for the long term, and plan to sell these CTLD shares only if their price exceeds their NAV, which must be about Rs 62 currently.
Seeing how most properties, including Majestic City, are valued based on the rental income that they generate, I believe that land and property shares should trade at or around their NAV. Any views on this?

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Re: Land and property - snapshot

Post by pathfinder on Fri Aug 28, 2015 7:59 pm

Antonym wrote:
Less than four year ago, when CTLD was severely undervalued, I bought a few shares under Rs 29. Since then, it has given me a decent dividend yield (average 7%, increasing each year).
I generally invest for the long term, and plan to sell these CTLD shares only if their price exceeds their NAV, which must be about Rs 62 currently.
Seeing how most properties, including Majestic City, are valued based on the rental income that they generate, I believe that land and property shares should trade at or around their NAV. Any views on this?

Nice to see you back Antonym Very Happy
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Re: Land and property - snapshot

Post by Antonym on Fri Aug 28, 2015 10:21 pm

pathfinder wrote:Nice to see you back Antonym Very Happy
Thanks, pathfinder. Very Happy
I am mostly a silent observer nowadays because I own shares of only 4 companies, am not really interested in increasing my equity exposure, and don't know much about other shares. Therefore, not much to contribute...

Undervalued shares (incl. land and property) are my favorites. I believe that it makes more sense to invest in land & property shares than in property iteslf - because when the price of L&P rises, the prices of L&P shares rise even more!

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Re: Land and property - snapshot

Post by First Guy on Fri Aug 28, 2015 10:25 pm

Antonym wrote:
First Guy wrote:
slstock wrote:And I sold my 1000 share at Rs 37  ( but invested in somethign else which also rose)
Yes there were many which had good runs. CTLD held on during these rough times too. Now it's nearing NAV so have to be watchful
Less than four year ago, when CTLD was severely undervalued, I bought a few shares under Rs 29. Since then, it has given me a decent dividend yield (average 7%, increasing each year).
I generally invest for the long term, and plan to sell these CTLD shares only if their price exceeds their NAV, which must be about Rs 62 currently.
Seeing how most properties, including Majestic City, are valued based on the rental income that they generate, I believe that land and property shares should trade at or around their NAV. Any views on this?

I too bought my first CTLD around 29/- mark Very Happy

These don't have to be trading near NAV but depends on the earnings and dividends. CSD has NAV close to 30/- but is nowhere near that price. NAV and even EPS can be increased easily by revaluing. So cashflow and dividends are important when comparing.
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Re: Land and property - snapshot

Post by First Guy on Fri Aug 28, 2015 10:27 pm

Antonym wrote:
pathfinder wrote:Nice to see you back Antonym Very Happy
Thanks, pathfinder. Very Happy
I am mostly a silent observer nowadays because I own shares of only 4 companies, am not really interested in increasing my equity exposure, and don't know much about other shares. Therefore, not much to contribute...

Undervalued shares (incl. land and property) are my favorites. I believe that it makes more sense to invest in land & property shares than in property iteslf - because when the price of L&P rises, the prices of L&P shares rise even more!

I have to disagree. From what I've seen, the land value doesn't matter much directly. It's how much rent the company charges for letting that space. Naturally rent will rise along with land value too but it depends on many other factors. Think of a basic house and a luxury house built at the same plot for example and how much rent they will fetch. Cost to build them, facilities etc., are different too.
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Re: Land and property - snapshot

Post by HAL9000 on Fri Aug 28, 2015 11:29 pm

CTLD has already given good returns,  but OSEA is the future, which is completing the Havelock city project ! Does Antonym endorse this ? Here I considered political factor as well !
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Re: Land and property - snapshot

Post by xmart on Sat Aug 29, 2015 12:27 am

HAL9000 wrote:CTLD has already given good returns,  but OSEA is the future, which is completing the Havelock city project ! Does Antonym endorse this ? Here I considered political factor as well !

Im betting on OSEA. I have been there. phase III is also underway. its true potential is yet to reveal. there is nothing like Havelock City and WTC and hardly never will be in heart of colombo.
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Re: Land and property - snapshot

Post by First Guy on Sat Aug 29, 2015 10:45 am

xmart wrote:
HAL9000 wrote:CTLD has already given good returns,  but OSEA is the future, which is completing the Havelock city project ! Does Antonym endorse this ? Here I considered political factor as well !

Im betting on OSEA. I have been there. phase III is also underway. its true potential is yet to reveal. there is nothing like Havelock City and WTC and hardly never will be in heart of colombo.

Out of all the property shares, I have looked at (a bit) at CTLD, OSEA and COMD. OSEA has an edge over the other two with apartment sales (when they happen). They will pay a special dividend from these profits. With so many developments coming around the fort area WTC could also have an edge but it will also face competition. Ratios are attractive compared to others. CTLD and COMD will give consistent dividends in the meantime. Others with renting business are YORK, ONAL and also CLND which was recently renovated.

KDL and MHDL build houses and sell. I am not updated with these but KDL will recognize revenue in coming quarters but NAV seems low even with that to me. Hariesha has talked about MHDL some time ago.
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Re: Land and property - snapshot

Post by pathfinder on Sat Sep 26, 2015 6:47 pm

What will happen if much talked Megapolice project commence?
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Re: Land and property - snapshot

Post by First Guy on Sun Sep 27, 2015 8:27 pm

pathfinder wrote:What will happen if much talked  Megapolice project commence?

Megapolis? Wink
This I think is a very long term plan. It's going to take a very long time. More than in Colombo, I think l;and value of suburbs and adjoining districts may appreciate.

But there are plenty of new developments happening in Colombo. New hotels + apartments (Shangri La, ITC, Hyatt, Destiny .... ) then we have the port city, Orion City expansion, Renuka Tower?

While these might increase land value, it's going to give competition to exiting buildings.

WTC (OSEA) is still much sought after + It has apartment business. Will new developments be more attractive and competitive on price?

EQIT, ETWO, CSD, COMD - value might increase but income?

MC (CTLD) is I think is away from new projects and maybe has a different (low-mid end) market in terms of rent. There is a land (previous car park) opposite MC which is up for development owned by another company

Liberty (CLND) has had refurbishments. Possible increase in rent but past results have not been impressive.

Unity is nothing much to talk about.
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Re: Land and property - snapshot

Post by Hybrid on Mon Sep 28, 2015 12:08 pm

Land in Katunayake, Seeduwa, Jaela, Ekala, Kandana are slightly moving up in price with the Highway. if the Metropolis is planned and awareness is high it would be worth investing in land from now on.

Prices are between 250,000 pp upwards.
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Re: Land and property - snapshot

Post by First Guy on Thu May 19, 2016 7:46 am

CTLD has once again touched 55/-

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Re: Land and property - snapshot

Post by First Guy on Tue Jun 14, 2016 10:10 pm

Update on CTLD (not new news)

1.65/- final dividend slightly more than last time.

Main point in their accounts is the turnaround of the investee company in which it holds 45%

I don't think there is expansion for Majestic City but the investee is planning expansion with 'internal and borrowed funds'
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