Sumary of Macrotech Developers our top pick in real estate sector: Dipan Mehta:
- Our top pick within the real estate pack remains Macrotech Developers as the company is where DLF was 3-4 years ago, says Dipan Mehta, Director, Elixir Equities.
- Edited excerpts from an interview with ET Now:I am surprised that on one hand, Bajaj Finance reported a crunch but on the other hand, Asian Paints, which is a play on consumption, reported strong volume growth for the quarter gone by.
- There are pockets where volumes have stood up well as we saw in paints, but I would not use that as a benchmark for all discretionary-related stocks.
- There are many companies where the numbers seem to be optically great when comparing with that of last June.
- Real estate is largely a regional play, rather than a pan-India play.
- Having said that, we are very positive on the real estate sector.
- We reaching a phase where there is good volume growth and prices also will remain strong and may be trend higher as well.
- All listed real estate companies which have survived, be it DLF, Sobha, Prestige or Oberoi, are in a very good shape in terms of their balance sheets.