Outcome of bribery case holds key for DB Corp: Deven Choksey

ET Now spoke to Deven Choksey, MD, KR Choksey Securities, on his take on DB Corp.

Is this the fear, which sometimes also gives you opportunity and I want to be specific with DB Corp here, which is off 40% in three days?

If you look at the potential for this company, that definitely suggest that this company has got a good amount of opportunity in the real estate space. There is 57 million square feet of construction, which is happening and at the same time, this company has already got most of the projects going.

Now whether this particular transaction of bribery is involved in this company or not and whether it will affect them or not, that the outcome would tell but on the paper or otherwise when you look at their actual projects, the ways they have been executing these projects, in my viewpoint, this company is suggesting that they are looking for a further growth going forward from here.

Valuation wise also, they are not expensive. On a Rs 24 kind of an earnings per share expected in this financial year, they are still available at below 10 kind of a PE, so from that point of view, also the company is offering good amount of safety. Largely I would bet on how exactly the outcome of this particular bribery case comes out and then possibly would take a further call on this company but on the merits, it looks promising.