In my track list for multibaggers, I am tracking Gulf Oil Corporation. The present market cap at Rs. 1285 per share is Rs. 1800 crores. The company has a great land bank. Out of all the land banks, I know of the property in Hyderabad of about 800 acres. The market value of which is unknown. The company also had a property in Bangalore (area and value not known) where the company has started its development activities. The company has expressed its intent to develop its Hyderabad property as reported by CNBC on July 26, 2006. However, later the environmentalist has raised a dispute over the land being including in municipal area. I am unable to confirm the outcome of the case even though I am receiving positive but unconfirmed news on the same. This Hinduja group company has also good land banks in all the metros (area and value not known). The company is disposing off its property in small "quantities" and also selling its subsidiaries to collect money for the developmental activities. If the above news is confirmed, the valuations will turnout to be much higher than the ruling prices.
If anyone have a better perspective on this company, please do share on the same.