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Nifty Realty index nears 52-week high; Oberoi Realty hits record high

Godrej Properties, Puravankara, Kolte-Patil, Sunteck Realty and Ajmera Realty hit 52-week highs

SI Reporter  |  Mumbai 

Lodha, Oberoi, Wadhwa clock record home sales

Shares of select companies were trading firm with the index reaching closer to its 52-week high in an otherwise weak market.

At 02:10 pm; index, the largest gainer among sectoroal indices, was up 1.78% at 214.25 as compared to 0.65% decline in the Nifty 50 index. The index hit an intra-day high of 214.30, close to its 52-week high of 216.05 touched on August 10, 2016.

Since December 26, 2016, from its recent low, the index surged 35% against 15% rise in the benchmark index. Kolte-Patil Developers, Delta Corp, Sunteck Realty, Dilip Buildcon, Brigade Enterprises and Ashiana Housing have rallied more than 50% each during the period.

Meanwhile, the S&P BSE Realty index too up 1% against 0.69% decline in the S&P BSE Sensex. Godrej Properties, Oberoi Realty, Puravankara, Kolte-Patil Developers, Sunteck Realty and Ajmera Realty have hit their respective 52-week highs on the bourses.

The government on February 1, 2017 announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed but unsold inventories. The government also proposed to reduce the capital gains tax liability on immovable property to promote the sector and to make it more attractive for investment.

According to analysts at JP Morgan, earnings growth has started to revive selectively across names and should revive in a broad-based manner in the residential business by FY18.
 
“This does not assume any pre-sales recovery, which we expect to be flat across companies, but rather a run-down of legacy low margin book, which should be completely delivered by FY17 end across most names. Margin recovery hence should revive earnings growth across the space,” the foreign brokerage firm said in recent report.

hit a record high of Rs 396, up 6.5% on BSE in intra-day trade on expectation of significant jump in cash flows and earnings recovery given solid offtake in recent launches.

Company LTP % chg* %chg#
Sobha 342.80 7.66 39.52
Delta Corp 179.25 5.97 87.89
Prestige Estates 208.50 4.72 24.44
Oberoi Realty 388.10 4.44 32.93
J Kumar Infra 260.40 4.22 37.34
Puravankara 61.30 2.59 37.44
Godrej Propert. 398.10 2.29 35.87
Sunteck Realty 362.50 1.98 72.95
Kolte Patil Dev. 160.00 1.65 96.92
Anant Raj 48.75 1.14 32.11
       
Nifty Realty 214.25 1.78 35.05
S&P BSE Realty 1593.03 0.95 30.17
Nifty 50 9062.15 -0.65 14.59
       
LTP: Last traded price on BSE in Rs at 02:10 pm
* change over previous day
# change over December 26, 2016

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Nifty Realty index nears 52-week high; Oberoi Realty hits record high

Godrej Properties, Puravankara, Kolte-Patil, Sunteck Realty and Ajmera Realty hit 52-week highs

Godrej Properties, Puravankara, Kolte-Patil, Sunteck Realty and Ajmera Realty hit 52-week highs
Shares of select companies were trading firm with the index reaching closer to its 52-week high in an otherwise weak market.

At 02:10 pm; index, the largest gainer among sectoroal indices, was up 1.78% at 214.25 as compared to 0.65% decline in the Nifty 50 index. The index hit an intra-day high of 214.30, close to its 52-week high of 216.05 touched on August 10, 2016.

Since December 26, 2016, from its recent low, the index surged 35% against 15% rise in the benchmark index. Kolte-Patil Developers, Delta Corp, Sunteck Realty, Dilip Buildcon, Brigade Enterprises and Ashiana Housing have rallied more than 50% each during the period.

Meanwhile, the S&P BSE Realty index too up 1% against 0.69% decline in the S&P BSE Sensex. Godrej Properties, Oberoi Realty, Puravankara, Kolte-Patil Developers, Sunteck Realty and Ajmera Realty have hit their respective 52-week highs on the bourses.

The government on February 1, 2017 announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed but unsold inventories. The government also proposed to reduce the capital gains tax liability on immovable property to promote the sector and to make it more attractive for investment.

According to analysts at JP Morgan, earnings growth has started to revive selectively across names and should revive in a broad-based manner in the residential business by FY18.
 
“This does not assume any pre-sales recovery, which we expect to be flat across companies, but rather a run-down of legacy low margin book, which should be completely delivered by FY17 end across most names. Margin recovery hence should revive earnings growth across the space,” the foreign brokerage firm said in recent report.

hit a record high of Rs 396, up 6.5% on BSE in intra-day trade on expectation of significant jump in cash flows and earnings recovery given solid offtake in recent launches.

Company LTP % chg* %chg#
Sobha 342.80 7.66 39.52
Delta Corp 179.25 5.97 87.89
Prestige Estates 208.50 4.72 24.44
Oberoi Realty 388.10 4.44 32.93
J Kumar Infra 260.40 4.22 37.34
Puravankara 61.30 2.59 37.44
Godrej Propert. 398.10 2.29 35.87
Sunteck Realty 362.50 1.98 72.95
Kolte Patil Dev. 160.00 1.65 96.92
Anant Raj 48.75 1.14 32.11
       
Nifty Realty 214.25 1.78 35.05
S&P BSE Realty 1593.03 0.95 30.17
Nifty 50 9062.15 -0.65 14.59
       
LTP: Last traded price on BSE in Rs at 02:10 pm
* change over previous day
# change over December 26, 2016

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Business Standard
177 22

Nifty Realty index nears 52-week high; Oberoi Realty hits record high

Godrej Properties, Puravankara, Kolte-Patil, Sunteck Realty and Ajmera Realty hit 52-week highs

Shares of select companies were trading firm with the index reaching closer to its 52-week high in an otherwise weak market.

At 02:10 pm; index, the largest gainer among sectoroal indices, was up 1.78% at 214.25 as compared to 0.65% decline in the Nifty 50 index. The index hit an intra-day high of 214.30, close to its 52-week high of 216.05 touched on August 10, 2016.

Since December 26, 2016, from its recent low, the index surged 35% against 15% rise in the benchmark index. Kolte-Patil Developers, Delta Corp, Sunteck Realty, Dilip Buildcon, Brigade Enterprises and Ashiana Housing have rallied more than 50% each during the period.

Meanwhile, the S&P BSE Realty index too up 1% against 0.69% decline in the S&P BSE Sensex. Godrej Properties, Oberoi Realty, Puravankara, Kolte-Patil Developers, Sunteck Realty and Ajmera Realty have hit their respective 52-week highs on the bourses.

The government on February 1, 2017 announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed but unsold inventories. The government also proposed to reduce the capital gains tax liability on immovable property to promote the sector and to make it more attractive for investment.

According to analysts at JP Morgan, earnings growth has started to revive selectively across names and should revive in a broad-based manner in the residential business by FY18.
 
“This does not assume any pre-sales recovery, which we expect to be flat across companies, but rather a run-down of legacy low margin book, which should be completely delivered by FY17 end across most names. Margin recovery hence should revive earnings growth across the space,” the foreign brokerage firm said in recent report.

hit a record high of Rs 396, up 6.5% on BSE in intra-day trade on expectation of significant jump in cash flows and earnings recovery given solid offtake in recent launches.

Company LTP % chg* %chg#
Sobha 342.80 7.66 39.52
Delta Corp 179.25 5.97 87.89
Prestige Estates 208.50 4.72 24.44
Oberoi Realty 388.10 4.44 32.93
J Kumar Infra 260.40 4.22 37.34
Puravankara 61.30 2.59 37.44
Godrej Propert. 398.10 2.29 35.87
Sunteck Realty 362.50 1.98 72.95
Kolte Patil Dev. 160.00 1.65 96.92
Anant Raj 48.75 1.14 32.11
       
Nifty Realty 214.25 1.78 35.05
S&P BSE Realty 1593.03 0.95 30.17
Nifty 50 9062.15 -0.65 14.59
       
LTP: Last traded price on BSE in Rs at 02:10 pm
* change over previous day
# change over December 26, 2016

image
Business Standard
177 22