Like Mahindra Lifespace Developers: Mayuresh Joshi

Mayuresh Joshi, VP- Institution at Angel Broking told CNBC-TV18, "Fundamentally nothing has changed on the ground at least for the larger players. Look at DLF or even the other larger players, the leveraged balance sheets is something which is a cause of concern. I think the deleveraging process is something that the markets would ideally like to see specifically in the case of DLF."

He further added, "The other players are also struggling in terms of getting their sales in the pipeline. Generally the slowdown both in terms of residential sales and commercial sales, leaving aside a few pockets in the country, is playing truant on the balance sheet of most of these companies."
"If one needs to take a stock specific view on this sector what we like more or less is Mahindra Lifespace Developers. It has quality management and good strong corporate governance. It might have a 15-20 percent compound annual growth rate (CAGR) in terms of both revenue and EPS over the next 3-5 years. So I think one needs to be a little bit more selective about this sector, because this sector is again dependent a lot about the interest rate variables and the kind of policy moves that the RBI does in terms of the short-term and long-term borrowing costs."