Exit Indiabulls Real Estate, prefer Kolte-Patil: Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "We are seeing a bit of a bounce in the market and real estate stocks are the momentum stocks that do well when market does well. That said, Indiabulls Real Estate is not the stock that I would stay invested in, in the real estate space. As it is I do not have a very positive view on real estate as a sector, but given the developments in these last 5-6 months, it has been very largely in favour of affordable housing sort of thing."

"You can look at a Kolte-Patil Developers or some such name or some of the south based names who are into more affordable housing. But my preferred play in that is actually to do the proxy play and I have really looked at the tile companies, the housing finance companies and things like that. So I would say exit Indiabulls Real Estate," she added.