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Apr 25, 2011, 01.22 PM IST
Mark Matthews says the real estate sector can be valuable after few years and even recommends buying into that space with 2-3 years horizon. Owing to its low debt-equity ratio, Matthews's top pick from the sector is Prestigeous Estates
Speaking to CNBC-TV 18, Matthews said the real estate sector can be valuable after few years and even recommends buying into that space with 2-3 years horizon. He sees the current situation — stretched valuations, corruption etc similar to Thailand many years back. He even believes that the Mumbai real estate sector which is down 70%, can go further lower. But, he still remains bullish on the sector saying "the real value lies in the property sector in India." Owing to its low debt-equity ratio, Matthews's top pick from the property sector is Prestige Estates , a stock which rose almost 15% in the morning trade. Speaking on fourth quarter numbers, he said Reliance Industries' quarterly numbers were in line with expectations but banks have surprised analysts on their results so far. On the global front, Matthews maintains that QE2 will be an important driver till June end and will impact asset classes. There is a direct relationship between QE2 and stock fundamentals, he said. Find out: Macquarie Cap's favourite pick from realty space
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