I am optimistic on the prospects of Patel Engineering and said stock can be accumulated as it is a bargain as quality stock is available below its book value. Moreover this Indian stock has a land bank of 1127 acres in and around tier-1 cities and the same commands a premium valuation of Rs 2,200 crore. Moreover it has order book which stands at Rs 8,090 crore after the addition of the Pranahita project. Moreover it is bagging orders and recent one is Rs 700-crore irrigation order in September 2008 for the Krishna Delta system in Andhra Pradesh. Patel Engineering is trading at a Price/Earning multiple of 7.2 times its FY09E EPS of Rs 22.7 and 5.7 times its FY10E Earning Per Share (EPS) of Rs 28.6. Moreover stock is trading at a price to book value of 0.9 times its FY10 expected earnings. Thus one can enter in this stock or can even use the systematic approach of investment and can enter in this stock for long term as the stock is worth keeping in the portfolio as these are the quality companies which definitely deserve your attention as such type of stock will definitely give more returns than a bank Fixed deposit or a deposit made as recurring deposit in the bank.