$23 billion fund sees more gains in costly Indian developers

Property developers’ shares have beaten every industry group in India this year, drawing criticism from some analysts who say the gains are overdone.

V. Srivatsa, a fund manager at the $23 billion UTI Asset Management Co., sees it differently. There’s more juice left in real-estate stocks as steps taken by the government to aid the industry that was one of the worst hit by last year’s cash ban start to take hold.

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