Sobha Developers is a best bet in realty space, says Saurabh Mukherjea, Head of Equities, Ambit Capital.
Mukherjea told CNBC-TV18, "Sobha Developers is the real estate play in and financials are in decent shape. It is a play on the Bangalore market which I believe is less speculative, less volatile market either Mumbai or Delhi so as a company within that credentials."
He further added, "Sobha Developers is our sole play on real estate. Amongst other cyclical Gateway Distriparks to the extent that it is a logistic play is also cyclical. We continue to avoid banks and finances in our model portfolio for obvious reasons economic growth softening and hence NPA quality will come under pressure sooner rather than later. So infrastructure, banks and by and large real estate with the exception of Sobha still continues to be a concern for us."
