May 29, 2013, 08.03 PM IST
SP Tulsian of sptulsian.com advises to enter HDIL at current levels. He is also positive on entire real estate space.
SP Tulsian of sptulsian.com told CNBC-TV18, “I will give my positive stance on HDIL . If you go by this Rs 442 crore the unsubstantiated claim of firstly the market does not know that what are the terms between the Mumbai International and the HDIL for this entire property, what kind of agreement it has executed, what is the profit sharing, what are the terms and all sort of things. So, may be when such a big land parcel - you are bound to see the dispute happening in that front. That will be a big source of TDR. The moment they shift about 25000 families to their Vidya Vihar complex they will get a huge TDR which can give them good amount of realizations once they start selling that because now the development plans and all everything is in place. So, they will be able to monetize it.”
He further added, “I don’t think that this litigation with the Mumbai International Airport can really prolong for a very long time because even GVK Group is under the dire stress of finance. They are in need of funds and all that. So, I am keeping my positive stance. But for this Rs 442 crore there is nothing negative in the financials except that the topline has not come which because of non-monetisation of FSI and TDR by the company. So, I am keeping my positive stance on the stock. In fact this should be used as an entry point. As such I have been keeping my positive stance on all the real estate stocks.”
Action in Housing Development and Infrastructure
Video of the day
Dec 11 2013, 09:54
- in Business
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.