Top pick in my book.13k of lots - good land bank. Mirvac have...

Top pick in my book.

13k of lots - good land bank. Mirvac have 23k residential in comparison.

At 104m market cap, not a bad story. Downside is sentiment and % rates. Still waiting to see the outcomes here...SP downside to 50c.

I figure that BLP has a LT net profit stream of about $35m at current levels before interest of about $15m. This is based on 700 lots per year of sales at an avg of 200k with 25% margin. At this rate EPS will be about 11.4c.

BLP is in a critical time, they are trying to establish critical mass and stabalise activity going into a headwind of interest rate hikes and negative sentiment in the sector.

I will watch this one. I had a bite before Xmas and sold for dividend. I have since re-assessed and am now looking for the longer term play.

Just my ramblings before another day at work...