homemarket Newsstocks NewsPositive on real estate; HDFC Bank favourite pick: Deven Choksey of KRChoksey
Positive on real estate; HDFC Bank favourite pick: Deven Choksey of KRChoksey
As the real estate sector is showing signs of revival and growth hereafter, the credit lending business of HDFC is likely to grow around 20 percent on a CAGR basis for around 3-5 years, said Deven Choksey of KRChoksey.
As the real estate sector is showing signs of revival and growth hereafter, the credit lending business of HDFC is likely to grow around 20 percent on a CAGR basis for around 3-5 years, said Deven Choksey of KRChoksey.
“The credit lending business of HDFC is suggesting that they will probably grow in the vicinity of around 20 percent on a CAGR basis for around 3-5 years given the kind of demand that we are likely to see from the housing sector,” he said in an interview with CNBC-TV18.
“HDFC Bank has shown a distinct amount of characters as far as lending ability is concerned. The larger the size of the book, the better it is as far as the growth in the lending business is concerned. Certainly, HDFC Bank remains favourable pick for our portfolio,” said Choksey.
In terms of Bajaj Finance, he said, “We are very confident about staying invested in Bajaj Finance. This is a good company to buy into.”
On midcap IT, Choksey said, “Tata Elxsi and Cyient are in our portfolios. We like to hold some of the good quality midcap IT stocks. Tata Elxsi could possibly grow at around 20-25 percent rate of growth and probably the larger companies would grow at 12-15 percent rate of growth. We like these companies, they are niche players and at the same time they have the ability to hold the margins as well.”
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(Edited by : Niral Sharma)
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