Ajmera Realty, Ansal Housing look good, says Tulsian

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Ajmera Realty, Ansal Housing look good, says Tulsian

Ajmera Realty and Ansal Housing are looking good, says SP Tulsian of sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about HDIL See messages about HDIL

Ajmera Realty and Ansal Housing are looking good, says SP Tulsian of sptulsian.com.

Tulsian told CNBC-TV18, "The problem with all these real estate companies, they are not seeing any single off take even in their bookings and all that. The worst part which all these developers are doing, that they are sitting on their inventory without cutting the price thinking that probably price cut will not serve the purpose and infact they have been going for borrowing at a hefty rate of 24-36%."

He further added, "I had a talk with couple of NBFCs which are of foreign companies, they are lending to them at 25-27% interest per and that interest is payable per month. Inspite of that 2-3 deal's did not happen. One announcement if you recall has happened in case of Akruti City which now they have changed the name to Hubtown, that deal did not materialize with foreign NBFC and that is the situation that they are passing through a very bad liquidity patch and if this situation continues, I think that is going to get reflected into the Q3 results. If you take the case the players which are having presence in Mumbai like HDIL , Indiabulls Real Estate , these are the companies having their projects but they have not seen any kind of booking. Oberoi realty is in someway better placed because they completed their Oberoi Splendor at Jogeshwari-Vikhroli Link Road. So, because of the completed projects they are able to sell the property. I think this is the pathetic state for all the real estate developers and that is the reason. If you see in today's market except for Ajmera Realty and Ansal Housing I don't think that any other stocks are really doing well."