Prefer Godrej Properties over DLF: Rajen Shah

Godrej Properties at about Rs 600 is looking much more promising than DLF, says Rajen Shah, Angel Broking. Godrej Properties has at least 15-20 launches over the next 12 months and thus the company is planning to raise the equity of about Rs 700 crore through rights issue, he adds.

May 13, 2013 / 12:46 IST

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Rajen Shah, Angel Broking told CNBC-TV18, "We do not feel that DLF will move. The offer-for-sale (OFS) is tomorrow. It is for about Rs 1,800 crore but we are not very positive on DLF at the current levels of about Rs 235. I had expressed my view few weeks back that we continue to be bearish on DLF."

He further added, "In realty space, the one stock, which we like a lot is Godrej Properties, at least 15-20 launches are planned over the next 12 months and thus the company is planning to raise the equity of about Rs 700 crore through rights issue, which would go towards growth capital. I think Godrej Properties at this level of about Rs 600 looks much more promising than DLF."

first published: May 13, 2013 12:46 pm

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