Jitendra Sriram positive on DLF

Jitendra Sriram, MD & Head of Research, HSBC India is positive on DLF.
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Apr 23, 2013, 10.52 AM | Source: CNBC-TV18

Jitendra Sriram positive on DLF

Jitendra Sriram, MD & Head of Research, HSBC India is positive on DLF.

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Jitendra Sriram positive on DLF

Jitendra Sriram, MD & Head of Research, HSBC India is positive on DLF.

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Jitendra Sriram (more)

MD & Head of Research, HSBC India | Capital Expertise: Equity - Fundamental

Jitendra Sriram, MD & Head of Research, HSBC India is positive on DLF .

Sriram told CNBC-TV18, "For real estate stocks keep an investment horizon of at least about a year. There are a few names like DLF which we are positive on. Overall if you look at it, forget the noise in the sector, I do agree that this sector has been reasonably noisy, the fact is that they have been doing concrete measures to deleverage their balance sheet which is a genuine part of improvements, which has kicked in whether it is sell of some non-core investments, whether it is trying to reduce that debt, things like getting out of property in Mumbai and so on. So all these things have actually led to some reduction in debt and that is what makes us more constructive on the name.”

He further added, β€œI do think that in the near-term, although for the sector as a whole you might see some slowdown. You have this huge galore of 20:80 schemes coming in. Potentially I would say that this is a sign that sales or inquiries have clearly eased up which is what is prompting the developer community to float these kind of Call Option schemes where with a small token money you can actually try to lock in the customer.”

β€œIn the near-term you may see some headwind to sales coming in because people are walking at the current pricing of properties and inquiries are not converting to sales which is what is prompting developers to launch these kind of sweeteners."

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Jitendra Sriram positive on DLF

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