Mumbai-based developers Macrotech Developers (Lodha) and Oberoi Realty have emerged as top gainers among largecap realty stocks over the past month, with gains ranging from 29 per cent to 33 per cent.
Strong ongoing sales trends in Mumbai's core market, record bookings in the January-March quarter, and healthy guidance for 2024-25 (FY25) have propelled these companies, which derive the majority of their revenues from India's financial capital.
They have outperformed peers such as DLF and Godrej Properties, which have delivered low-to-mid single-digit returns during this period.
A near-term catalyst has been a 22 per cent rise in housing units registered in Mumbai for May, the totalling 12,000 units highest for the month in 12 years.
A slight increase in average ticket size resulted in a 24 per cent rise in the overall value of registered units to ₹17,200 crore.
From January to May, registrations reached 60,819 units, marking a 17 per cent increase over the previous year, with sales by value up 2 per cent to 281,000 crore.
Denne historien er fra June 17, 2024-utgaven av Business Standard.
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Denne historien er fra June 17, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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