Porinju Veliyath is bullish on the shares of Godrej Properties and Sobha Developers which have more than doubled in the year.
Kochi-based Porinju Veliyath is known for spotting multibaggers. The MD and CEO of Equity Intelligence India had manages a portfolio of over Rs 1,000 crore. In a recent interview, the ace investor revealed that some of his picks last year have given stellar returns. In an interview to ET Now, Porinju Veliyath said last week, “A year ago on ET Now, I was talking about three high quality real estate companies — Oberoi Realty, Sobha Developers and Godrej Properties, they have moved up very well.”
While Oberoi Realty has given 55% returns since January, Sobha Developers and Godrej Properties have more than doubled investors wealth in the same period. Sobha Developers has given 110% returns since January, Godrej Properties is up by more than 124% in the year. If you’re regretting that you don’t own them, fret not, as the ace investor is still bullish in these companies. “But even Samvat 2074 can be a very good year for these companies, And not only for next one year, next 5 to 10 years these efficient and well managed real estate developers can do well. As a business they have a long way to go, we cannot underestimate, ” he told ET Now last week.
What are the other stocks on his radar? “Another stock I have in my mind is Allcargo. Nobody has been talking about this stock for a long while. We have been buying stock in PMS for some time. There is no hurry to buy. It is a very heavy stock. Investors should not just jump into buy this stock at this point of time. It has around Rs 4000-crore market cap. It is a very large logistics company. Multimodel logistics player. I think they are largest LCL consolidators in the whole world.This company is worth watching. Again, it cannot be a multibagger. But 2074 should be a turnaround year for Allcargo,” Porinju Veliyath told ET Now.