Remain invested in Godrej Properties: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas Financial Services told CNBC-TV18, "Godrej Properties is one of the companies which is we cover under our real estate universe, likewise we have positive coverage on Sobha, Oberoi Realty and Mahindra Lifespace. So Godrej Properties being one of the stocks which is under positive coverage and our targets stands at about Rs 320. I am extremely pleased and satisfied with the kind of numbers that the Godrej properties have been delivering."

He further added, "In terms of execution, par excellence compare to the industry standard and the realisations per square feet on commercial as well resident properties is above industry standard again. Debt is virtually negligible to zero. With the kind of developments that we have heard in recent times by the Chief Minister, Devendra Fadnavis in Maharashtra, it is only going to be matter of time when you see the changing scenario happening for all those companies which are based out of Mumbai and whose balance sheet is neat and clean. So I would advise to hold on to it with the target of about Rs 320."