 "Demonetisation impact: Delta Corp, Ansal Housing, DLF among worst hit")
The government’s demonetisation move coupled with global headwinds has been a double whammy for the Indian markets. While the Nifty50 index has lost around 5% since November 9 – post the demonetisation move by the government and the US Presidential election outcome – the consumption related sectors have been hit hard, especially the real estate sector, given the high cash-based transactions. The Nifty Realty index has lost nearly 20% since then, with individual companies suffering even more.
Also Read: Will demonetisation add to banking sector's woes?
Also Read: Will demonetisation add to banking sector's woes?
Analysts say there is more pain in store for the sector in the medium-to-long term, particularly in the repurchase market given the uncertainty demonetisation has created. There are expectations of a revaluation of current real estate transactions across the board representing possible losses to players in the sector, they suggest.
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“At a sector level, it will create a slowdown in demand. The NCR market will likely be the worst affected, followed by Mumbai and Bangalore. However, in the long-term it could result in sector consolidation and branded companies benefiting,” points out a recent note from HSBC.
Also Read: More pain in store for realty, jewellery sector stocks
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According to Crisil, cities and micro markets such as the National Capital Region (NCR) with high investor demand to be severely impacted. Residential real estate demand is likely to decline more severely in micro markets with high share of unorganised developers. On the other hand, developers will face serious fund crunch in the short-to-medium term, which will further delay ongoing projects.
Also Read: Realty, luxury goods worst hit: Check out the winners and losers from demonetisation
Also Read: Realty, luxury goods worst hit: Check out the winners and losers from demonetisation
Here is a list of realty and construction companies that have seen the maximum erosion in their market-capitalisation (market-cap) since the government’s demonetisation move was announced.
| Company | Close Price ** | Market Cap (Rs cr) | % chg in Market-cap |
| Delta Corp | 104 | 2401.82 | -56.1 |
| Ansal Housing | 16.3 | 96.81 | -54.0 |
| Sunteck Realty | 184.55 | 1161.74 | -49.3 |
| Eldeco Housing | 412.3 | 81.22 | -45.4 |
| Vipul Ltd | 62.35 | 748.1 | -41.3 |
| C & C Constrn. | 15.75 | 40.08 | -40.3 |
| Anant Raj | 36.85 | 1087.44 | -36.0 |
| DLF | 108.6 | 19373.96 | -32.3 |
| Ajmera Realty | 112.9 | 400.57 | -31.0 |
| Ansal Buildwell | 55.05 | 40.63 | -29.8 |
| Garnet Construct | 15.9 | 22.1 | -28.6 |
| Globus Power | 14.8 | 146.44 | -28.4 |
| Peninsula Land | 14.8 | 413.22 | -28.4 |
| Arih.Found.Hsg. | 47.8 | 41.11 | -28.1 |
| H D I L | 58.1 | 2521.56 | -28.1 |
| Lancor Holdings | 23.2 | 93.96 | -28.0 |
| Kolte Patil Dev. | 95.65 | 724.74 | -27.8 |
| Prajay Engg. | 9.88 | 69.1 | -27.5 |
| Marathon Nextgen | 200.6 | 570.45 | -25.2 |
| Tirupati Sarjan | 15.95 | 52.63 | -23.5 |
| Nitesh Estates | 10.41 | 151.81 | -23.2 |
| Emami Infra. | 58.75 | 142.76 | -23.2 |
| Tarmat | 35.7 | 39.13 | -22.8 |
| Ganesh Housing | 64.35 | 315.33 | -22.7 |
| Prime Property | 26.4 | 44.8 | -22.4 |
| JP Associates | 8.14 | 1980.02 | -22.2 |
| Oswal Green Tech | 24.35 | 625.33 | -22.0 |
| Prozone Intu | 34.5 | 526.47 | -21.7 |
| Indbull.RealEst. | 66.3 | 3359.18 | -21.4 |
| SSPDL Ltd | 76.05 | 98.33 | -20.8 |
| Unitech | 4.74 | 1240.13 | -20.0 |
| Satra Properties | 5.3 | 94.53 | -20.0 |
| Arvind Infra. | 72.45 | 187.1 | -19.0 |
| D S Kulkarni Dev | 60.45 | 155.96 | -18.9 |
| Phoenix Mills | 305.95 | 4683.08 | -18.8 |
| Nila Infrastruct | 12.88 | 506.14 | -18.6 |
| Zandu Realty | 1191.65 | 96.05 | -18.5 |
| Ansal Properties | 15.85 | 249.48 | -18.3 |
| PVP Ventures | 4.89 | 119.83 | -17.6 |
| Oberoi Realty | 288.05 | 9776.02 | -17.4 |
| D B Realty | 39.05 | 949.93 | -16.8 |
| Godrej Propert. | 307.5 | 6653.17 | -16.6 |
| Madhucon Proj. | 35.3 | 260.5 | -16.1 |
| Victoria Mills | 3324.7 | 32.91 | -16.1 |
| FGP | 2.4 | 2.86 | -16.1 |
| Vas Infra. | 12.4 | 17.05 | -15.7 |
| JMC Projects | 211.15 | 709.06 | -15.7 |
| Parsvnath Devl. | 11.67 | 507.86 | -15.6 |
| Sobha | 234.75 | 2301.96 | -15.2 |
| Arihant Super. | 94 | 386.9 | -14.9 |
| Shree Precoated | 2.03 | 16.81 | -14.8 |
| Orbit Corpn. | 4.72 | 53.79 | -14.2 |
| GMR Infra. | 11.19 | 6754.22 | -13.3 |
| Prerna Infra. | 19.2 | 22.37 | -13.3 |
| JRI Inds. | 2.7 | 7.17 | -13.0 |
| Mahindra Life. | 372.85 | 1530.31 | -12.8 |
| Texmaco Infrast. | 37.45 | 477.21 | -12.7 |
| Hubtown | 88.5 | 643.75 | -12.6 |
| Brigade Enterpr. | 155 | 1754.87 | -12.6 |
| Landmark Prop. | 3.66 | 49.08 | -12.3 |
| Ashiana Housing | 129.15 | 1321.88 | -12.1 |
| Prestige Estates | 163.55 | 6133.13 | -11.9 |
| Pudumjee Industr | 12.98 | 23.36 | -11.7 |
| Conart Engineers | 35.55 | 10.67 | -11.6 |
| Maruti Infra. | 24.3 | 30.38 | -11.1 |
| Nirlon | 188.5 | 1698.76 | -10.3 |
| Steel Strips Inf | 13.29 | 11.48 | -10.2 |
| Valecha Eng. | 26.1 | 58.8 | -10.2 |
| Shelter Infra | 12 | 4.28 | -10.0 |
| Puravankar.Proj. | 42 | 995.99 | -10.0 |
| Dilip Buildcon | 202.5 | 2769.59 | -9.7 |
| SPML Infra | 54.95 | 201.39 | -9.6 |
| Ahluwalia Contr. | 260.7 | 1746.37 | -9.0 |
| Sunstar Realty | 54.9 | 1296.9 | -8.0 |
| Kings Infra | 13.1 | 18.46 | -8.0 |
| NBCC | 219.2 | 13152 | -7.1 |
| Elnet Technolog | 91.55 | 36.62 | -5.7 |
| Shrist Infra | 280 | 621.6 | -5.7 |
| Dhruv Estates | 37 | 3.55 | -5.4 |
| Country Condo | 3.92 | 30.42 | -5.1 |
| Omaxe | 158 | 2889.82 | -5.0 |
| Haz.Multi Proj. | 0.67 | 1.7 | -4.7 |
| J Kumar Infra | 191.55 | 1449.37 | -3.9 |
| Macro Intl. | 16.9 | 6.71 | -3.9 |
| Simplex Realty | 85.85 | 25.67 | -2.5 |
| Nyssa Corp. | 8 | 24 | -2.3 |
| Simplex Infra | 315.6 | 1560.64 | -1.0 |
| Vishvas Projects | 4.5 | 1.28 | -0.8 |
| Diamant Infra. | 1.2 | 4.22 | 2.4 |
| Radhe Develop. | 18.95 | 47.72 | 2.9 |
| IITL Proj. | 30.4 | 15.17 | 3.1 |
| Ladam Affordab. | 10.02 | 18.34 | 4.7 |
| Ritesh Prop | 7.48 | 8.67 | 7.0 |
| Swan Energy | 134 | 2963.81 | 15.3 |
| ** Price in Rs as on Nov 16 | |||
| Market-cap as on Nov 16 | |||
| % change since Nov 8 | |||
