Originally posted by deveshkayal On MCap/Sales basis, Sterling has higher valuation than Country Club. Also, i have never heard of Sterling Resorts but i can see aggressive advertising by Country Club.

Originally posted by basant Originally posted by Ajith  Sterling Teak-lot of investors(not share market) lost their money in Sterling teak trees  a few years ago,I think.Is this not the the same management?Sterling has a resort in Ooty . Mahindra is  altogether a class apart.But still Sterling may be a value buy-(in a bull market all sorts of shares move up)- if the question marks on the management can be refuted. If this is indeed true then we should not touch this company with a pole! There is nothing beyondmanagement integrity that distinguishes one company from another. How sure are we about the promoters of teak wood and resort being the same?

• Mahindra Holidays & Resorts India Ltd = Mcap:4000Cr; Country Club (India) Ltd = Mcap: 821Cr but Sterling Holiday Resorts (India) Mcap is just 200Cr.
  
• There is valuation gap, so Country Club and Sterling Holidays will catchup the.

I am expecting Sterling Holidays currently at Rs70 to move up and reach min 200+ by the time IPO of Mahendra Holidays comes (it is expected to come in Jan-Feb'08). So we can look at this stock as multibagger in couple of months.

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Well I am thoroughly confused with your argument. If  FY08 profit of Synergy is 12 Crores and apply the PE of Country Club ie 15 to  it gives the mkt cap of 180Cr. That means it is fairly valued. I cant understand why it will touch 200, as per this logic. please  help me out  

Edited by mukesh - 21/Jan/2008 at 5:16pm

AGM      
          Sterling Holiday Resorts (India)
Expects to report operating profit in FY12


Sterling Holiday Resorts (India) held its AGM on Sep 28, 2011 at Chennai. The meeting was chaired by Siddharth Mehta, the Chairman of the company.

Key takeaways of the meeting

In the time share business the company is taking all efforts to recapture the market leadership in next 2-3 years. Refurbishment of the existing properties is thus the first priority, unless u refurbish to the required standard it's hard to sell. Secondly, it is adding more rooms to the room inventory which will be done through leasing model as of now. For the time being at least next 12 months, the company does not have any intention of going for acquisition/Greenfield properties.

Currently the company has 109000 time share members of which 56000 are active members. The company has about an aggregate dues to the extent of Rs 100 crore from non active/dormant members. Once refurbishment is over the company will try to bring them back to the fold.

Of the current total room inventory of 1258 about 600 rooms are getting refurbished. Refurbishment of each room will cost approx Rs 6 lakh per room.

The company planned to add 300 rooms to its inventory in FY12 and it has already added about 55 rooms with Thekady property and balance will be added during the course of time. The company is also looking at properties in overseas destination especially South East Asia for lease. Building a green field property is time consuming as it involves lot of approvals/clearances. All approvals alone will take about 18 months. So its better to go for lease model.

The company has paid off all its debts barring that of IFCI amounting Rs 10 crore. Even for that the company has deposited entire due and waiting for the litigation to clear.

The company has surplus land in 13 locations including places such as Goa, Puri, Mahabaleshwar, Corbet, Gangtok, Yelagiri, Coorg etc. Going forward the company can add new additional rooms when required.

Expects the company to return to profitability at operating level in FY12. Currently the occupancy level of its resorts has improved to 40-45% and this is good enough to clock operating profit.