Nifty Realty index hits lowest level since December 2016; DLF dips 5%

The real estate demand is expected to witness moderation and committed receivables from already booked sales can also get impacted, due to the Covid-19 pandemic

Shares of real estate companies were under pressure on Monday, with the Nifty Realty index hitting an over three-year low as the sector has been hit hard by the Covid-19 pandemic.

DLF, Prestige Estates Projects, Indiabulls Real Estate, Oberoi Realty, Mahindra Lifespace Developers, Brigade Enterprises and Sobha from the Nifty Realty index slipped in the range of 5 per cent to 10 per cent in intra-day trade on the National Stock Exchange (NSE). Of these, Mahindra Lifespace Developers, Brigade Enterprises and Prestige Estates Projects touched their respective 52-week lows.

At 01:17 pm, Nifty Realty index was down 4.6