Indiabulls Real looks attractive: Sanjay Dutt

Indiabulls Real Estate is looking attractive at the current levels, says Sanjay Dutt, Director, Quantum Securities.

Dutt told CNBC-TV18, "Real estate like I mentioned last time after two-three years I have become selectively bullish. I think there is a positive newsflow around the bend for that sector specific to companies, which don't have highly leveraged balance sheets, which have bought assets at reasonably attractive prices and are pretty good in execution. I believe Indiabulls Real Estate is one of them and obviously now it has announced reasonably attractive restructuring where it is talking about the power holdings being given away to the shareholders etc, which obviously will take a few months." He further added, "I think the stock quotes a substantial discount to NAV, there is a good amount of upside there. So there are some smallercap companies also which look reasonably attractive. Indiabulls Real Estate, I am long and I find it very attractive at the current levels. I think it has the potential to give about 50-75% return over the next 6-12 months definitely. But on the sector as a whole, I think it is a bit of a challenge for larger companies like DLF, Unitech etc because they have still got issues but selectively one should start buying because the next two years, I think real estate companies would give good returns in terms of equity investments."