Real estate shares rise on expectations of pick-up

Shares in real estate companies were up on expectations of a pick-up in deal flows and a fall in interest rates, which would benefit both builders and real estate buyers, dealers said.

For the companies, this would mean low-cost funds, earlier repayment of debt, resumption of construction activities and increase in sales. Separately, there was buying interest in certain stocks, the dealers said.

At 1402 hours, stocks of Housing Development and Infrastructure Ltd (HDIL), Puravankara Projects, Oberoi Realty and Unitech Ltd were up 4.5-10% on Bombay Stock EXchange.