Realty shares in demand; Oberoi, IB Realty, Prestige Estates, Sobha up 5%

The real estate sector is undergoing major consolidation as very few developers have the financial stability to undertake large capital-intensive projects, Oberoi Realty's management said

Shares of real estate companies were in demand in Monday's session, pushing Nifty Realty and the S&P BSE Realty to their respective multi-year highs on expectations of improved outlook.

At 10:25 am, Nifty Realty Index (up 3.9 per cent) and the S&P BSE Realty Index (up 3.8 per cent) were up nearly 4 per cent, as compared to a 0.6 per cent rise each in the Nifty50 and the S&P BSE Sensex. In the past three months, realty indices have surged 35 per cent compared with an 8.4 per cent gain in the benchmark indices.

Oberoi Realty, Prestige Estates Projects, Indiabulls Real