Peninsula Land has target of Rs 81: Irani

Mehraboon Irani, Senior VP-Equity, Centrum Broking is of the view that Peninsula Land has immediate target of Rs 81. This stock should give at least 50-100% returns over the next 12 months.

Irani told CNBC-TV18, "I have been recommending stock in the real estate space called Ganesh Housing, which performed well as far as investors and viewers go. But having a second look at real estate pack and this is absolutely for the long-term also. This is one stock which investors can sleep on is a stock of Peninsula Land; at around Rs 77 I find its worth being in every investor’s portfolio if one wants an exposure to real estate; one of the most healthy balance sheets, lovely liquidity position vis-à-vis its peers. When all the real estate companies were under stress, this company was not under stress because they have decided to be tight and never over leverage. I think debt equity is 0.4 – that’s another good sign.”