In my view, this is done to keep book value stable. real estate value will not go down or up and they need to take provisions of this 3400 cr. But these related party transactions are always not good unless we know it was done fairly.
I have been adding from a low of 500 and have faith in management although rationally I should have exited. DHFL acquisition was done at very low valuations. If management gets it right it will erase many of their sins. BFSI is all about management and the culture you build. Growth is easy in this Industry.
Anyone working in Pirmal finance can DM me Please.
Dis: I am invested in PEL since 2017 3 % of the India portfolio you can find here , so i am heavily biased