Prefer Godrej Properties, Prestige Estates: Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We had a coverage on HDIL, but we dropped it because of the concerns on the financials and secondly on the debt. If you want to play the real estate, there are better names. Godrej Properties and Prestige Estates are the two preferred stock ideas from a long term point of view. Their balance sheets are much more stronger compared to HDIL."

Godrej Properties ended at Rs 505.65, down Rs 13.60, or 2.62 percent on the BSE.