Enter DLF at around Rs 175-180: Pankaj Jain

Pankaj Jain, Director at Sunteck Wealthmax Capital Pvt Ltd told CNBC-TV18, "This Real Estate Regulatory Bill, I think what these builders, developers are I think anticipating that it maybe still a while away before we get anything into action and apart from that even commercial realty is out of the ambit of this. If we talk about DLF assets somehow, this stock has been bouncing back from levels closer to Rs 180-190 most of the times. “We have seen that happening two-three times.”

He further added, “Recently, during the analysts meet after Q4 performance I think top management was a loss of words. They were searching for words to explain the disparity between the commentary after Q4 results and the kind of commentary they were giving just about 45-50 days back when they were marketing their offer for sale at about Rs 230-240. So, analysts were not all that enthusiastic after the commentary, after poor Q4 results and somehow as I said before that we have seen serious slowdown in sales.”
“Recently, DLF marketed the project in Gurgaon, successfully marketed the project, even that has gone under some kind of small bit of litigation in Punjab Haryana High Court. So, all said and done I think it is still a while away. Maybe we could see levels closer to Rs 175-180 if we got to reenter DLF for a medium-to-longer term purpose.”
“But taking that into background and taking that DLF is – if we take northern region into consideration DLF is the only good bet whereby we could take some bet into realty. So maybe DLF is a decent bet at levels closer to Rs 175-180, not at Rs 190 kind of things where it has been bouncing back again and again.”