SP Tulsian of sptulsian.com told CNBC-TV18, "If one has a longer term horizon of say may be about one year because if you really go by the prominent metro based real estate company like Mumbai, Bangalore, NCR, I am holding positive view on all of them because if you go by their execution capability everyone has really started ramping it up.”
He further added, “In case of HDIL we have seen lot of litigations with the Mumbai airport and unless until that gets trashed out I don’t think that much relief can really be coming to the company. But go by the fundamentals also – market cap of Rs 1500 crore, may be debt of Rs 3500 crore makes an enterprise value of Rs 5000 crore. However, if you really go by the land parcels they have the benefits they will be because I am holding quite positive view that Mumbai international airport land eventually will get settled. Right now they have lost the matter in the Bombay High Court but I think eventually they are going to get the relief because even the GVK people cannot bring in the new party and look for the resettlement of the 75000-85000 slums which are existing on the Mumbai Airport property.”
“So taking all this into consideration if one has a longer term horizon of say about 1 year he/she can look for a price of may be Rs 58-60.”
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