Realty industry stocks were trading higher on the BSE, as India Ratings and Research (Ind-Ra) has maintained a neutral outlook for the Indian residential real estate sector for the financial year 2024-25 (FY25). It said absorption in residential real estate and prices are likely to be supported by affordability and stability of interest rates. However, given the high base of the just-concluded financial year 2023-24, the growth rates are likely to taper down.
Macrotech Developers is currently trading at Rs. 1249.25, up by 15.00 points or 1.22% from its previous closing of Rs. 1234.25 on the BSE.
DLF is currently trading at Rs. 894.05, up by 8.55 points or 0.97% from its previous closing of Rs. 885.50 on the BSE.
Sobha is currently trading at Rs. 1727.00, up by 9.45 points or 0.55% from its previous closing of Rs. 1717.55 on the BSE.
The residential real estate market registered a strong performance in the first three quarters of 2023-24 where the sales growth exceeded 25 per cent year-on-year for the top eight real estate clusters, despite price increases and sticky interest rates. With most regions witnessing a surge in prices, it expects the pre-sales growth to moderate to 8 per cent to 10 per cent year-on-year in the current financial year.
Further, it expects the prices to have been higher 22 per cent year-on-year at end-2023-24 and would be subdued at around 5 per cent for 2024-25, due to the base effect and large amount of new launches planned. Moreover, it expects the mid-income and upper mid-income segments, which emerged as the leading consumer segments in 2023-24, to continue to witness a strong buyer interest.
| Company Name | CMP |
|---|---|
| Lodha Developers | 855.85 |
| Dilip Buildcon | 450.15 |
| DLF | 595.85 |
| Oberoi Realty | 1695.70 |
| Ahluwalia Contract(I | 833.35 |
| View more.. | |
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