Real Estate could be contrarian bets in terms of returns: Lancelot D'cunha

ET Now caught up with Lancelot D'cunha, CEO, Sharyans Wealth Management, and seeks views on real estate space. Excerpts:

What is your view on the entire real estate space given that activity is turning around?

Real estate in Mumbai seems to be improving, Mumbai and the metros with prices actually moving up as well as the deal flow has increased in the last 2-3 months. So given that, some of these stocks have been beaten down substantially. For example, DB Realty and Indiabulls Real Estate. Indiabulls Real Estate was down quite a bit. It has probably fallen 40% from its peak. It is holding about $600 million in cash and has good projects within the metro. So these could be contrarian bets in terms of the returns that they could generate. So real estate is looking a sector which one can take a contrarian bet given the way prices have come off their peaks and the size of the deals that is taking place in the city of Mumbai and in other places, especially the metro areas.