Deven Choksey of KR Choksey Securities believes that one should buy Parsvnath Developers with a long term perspective.
Choksey told CNBC-TV18, "Very importantly, this call at Rs 550 should be a buy call on Parsvnath Developers. Simple reason that is, recently Unitech when they plays their shares in London market, I think they have valued their land bank at that point of time at around Rs 800 per sqft. Here the management is saying that their valuation of the land bank is less than Rs 200 per sqft. In my viewpoint from whichever angle one look at this company, it's a buy opportunity, particularly when we are seeing this kind of a space in which good amount of investment interest is there."
He further added, "I am not suggesting quarter on quarter kind of jump, which will be crazy. But my viewpoint is, on a long term investment perspective, this company should be looked at from the valuation point of view, which is less than Rs 200 per sq ft, which is a good valuation on the cost side. I think one should buy it."
Choksey told CNBC-TV18, "Very importantly, this call at Rs 550 should be a buy call on Parsvnath Developers. Simple reason that is, recently Unitech when they plays their shares in London market, I think they have valued their land bank at that point of time at around Rs 800 per sqft. Here the management is saying that their valuation of the land bank is less than Rs 200 per sqft. In my viewpoint from whichever angle one look at this company, it's a buy opportunity, particularly when we are seeing this kind of a space in which good amount of investment interest is there."
