Inox-PVR a sell on every high; best realty bets for risk-averse investors: Dipan Mehta

economictimes.indiatimes.com:

Dipan Mehta, Director, Elixir Equities, says highly risk-averse investors can look at Godrej Properties, DLF and Macrotech among real estate stocks as these offer some comfort considering the size, the balance sheet quality, and the diversity of their projects. But there is a lot of value in companies like Sobha as well as Prestige as well.What do you like within the real estate sector?Oh yes, lots of choices in real estate and you could really pick and choose. All of them are having a great moment at this point of time.

The entire sector has livened up phenomenally. If you are highly risk-averse, then you could look at Godrej Properties, DLF, Macrotech which offer some comfort considering the size, the balance sheet quality, and the diversity of their projects. But there is a lot of value in companies like Sobha as well as Prestige and this particularly new project of theirs could be quite a big contributor to the revenues, considering that real estate prices in Bombay, especially the premium level are at sky-high levels.

So from that point of view, it opens up an opportunity for Prestige and provides them a foothold in the richest real estate market in India, Mumbai. So, I am very positive on all real estate companies but these are the three or four which I feel more comfortable about. But I am sure there are many others which would report very good numbers going ahead.Given that after the announcement of the Jio Financial demerger, the stock closed in an all-time high, what is your outlook on Reliance Industries?It is playing catch-up for one because it had been underperforming for the past several weeks or so.