Prakash Agarwal, Real Estate Analyst at CIMB told CNBC-TV18, "We are underweight on real estate sector. Our top picks relatively are Sobha Developers because they have been focusing on the execution. If you see throughout the cycle, they are doing step-up in their execution cycle both in terms of completion as well as sales. They are in a relatively better market that is Bangalore, where we have seen a recovery in the IT space and given the lower ticket sizes compared to ticket sizes of Mumbai or Gurgaon which is upwards of Rs 15 million. In Bangalore people are still buy apartments at Rs 6 million. So, lower ticket sizes, recovery in the IT sector makes Sobha being in Bangalore a relatively better play."
"Our second top pick is Oberoi Realty. Currently the company is having issues with the approval cycle but given the marquee land parcels they have in Mumbai, I believe that once the approval cycle starts for them, they would be the biggest beneficiaries," he added.
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