Prefer Godrej Properties, says Porinju Veliyath

Porinju Veliyath, MD & Portfolio Manager, Equity Intelligence India told CNBC-TV18, "I would be betting on not so high quality and not so low quality kind of managements within the real estate space. But when I advice for investors, I always look at companies like Godrej Properties or maybe Oberoi Realty or maybe a company like Sobha Developers, very professionally managed with clean and healthy balance sheet and this industry has been going through bad times in the last many years. And the investor sentiment has been very low.""So, all this put together you are getting these companies with immense future prospects at a very attractive levels. So, if somebody really want to look at safety and decent return I would say Godrej Properties as the best among the lot. They are the leaders basically in the real estate market in India and they have got a long way to go. Now it is around Rs 7,000 crore market cap, it can grow to Rs 20,000-25,000 crore market cap in the next two or three years time," he said.