SP Tulsian of sptulsian.com told CNBC-TV18, "Indiabulls Real Estate is having the maximum strength in realty space. Whenever the stock corrects to about Rs 57-58, it bounces back to level of Rs 66. So, you can say that the range for the stock is seen between Rs 56 to Rs 66."
He further added, "If we go by the financial performance, in Q1 it posted topline of Rs 500 crore with profit after tax (PAT) margin of 15 percent. I am not saying that PAT margin is very exciting. It has two-three projects in Central Mumbai and there it has made good sales in this sluggish market. It has been very aggressive, it has cut the target, it has cut the selling price, and it has offered a consolidated rate with no floor rise, with no preferential location charge (PLC), with no extra cost like infrastructure and all that. So, it has evoked a good response to their projects."
"Taking all this into consideration and its execution capability, if we go by the track record of the mill development, NTC Mills having bought by so many other developers, it has been the fastest in developing and putting the projects occupied or workable. The stock can move to a level of Rs 66," Tulsian said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
