Though a relatively small player, J Kumar is a fast growing company in construction. It has an order book of Rs 1,350 crore (two times its 2009-10 revenues) and has bid for projects worth come and forex gains, core profit growth should be healthy.
The improving economic outlook in the US, which accounts for four-fifth of Patni's revenues, augurs well. Analysts estimate Patni (which acquired an insurance services firm in June) to report an 8-12 per cent earnings growth in CY11. Considering it had cash and cash equivalents worth Rs 166 per share, analysts don't rule out more acquisitions. Most analysts have a buy on the stock, with price targets at Rs 500-550.
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