While rising interest rates are expected to hamper affordability among buyers, analysts expect the underlying need for homeownership to remain strong, which would buoy housing sales going ahead
Among the realty pack, Indiabulls Real Estate trades in a bear grip, while Brigade and Phoenix Mills may see an upside of 14 per cent.
Among the most buzzing stocks, Spicejet surged 18 per cent. MOIL soared close to 9 per cent, while eClerx Services, Brigade Enterprises and Rossari Biotech were trading with 5-6 per cent gains
The Joint Development Agreement is for a large residential township development project at Perumbakkam, which is one of the fast-emerging residential hubs in Chennai
Among other real-estate stocks, Indiabulls Real Estate remains in the bear trap, while Sobha and Godrej Properties were seen struggling to make a come back.
'We plan to launch 8 million square feet in residential projects and 2 million square feet in commercial projects in FY23'
The technical analyst from HDFC Securities expects the Nifty to rally towards 17,794 on a breakout above 17,500-level.
Bengaluru-based realty firm Brigade Enterprises Ltd on Thursday reported a consolidated net profit of Rs 78.36 crore for the quarter ended December. The company had posted a net loss of Rs 16.12 crore in the year-ago period. Total income rose to Rs 933.19 crore in the third quarter of this fiscal, from Rs 653.65 crore in the corresponding period of the previous year, according to a regulatory filing.
The company has reported sales of 1.1 million square feet valued at Rs 684 crore during Q3 of FY22
Mehul Kothari of Anand Rathi is bullish on Brigade Enterprises and Laxmi Organic Industries
The firm saw Rs 831 crore in sales value in Q2, up 73% YoY
The Nifty Realty Index can soar up to 15% on hopes of a strong demand for housing this festive season
Most stocks in the real estate segment are set to add more gains in the coming sessions
Bengaluru-based developer Puravankara has initiated a similar increase in prices
Together they sold 21.23 mn sq ft area during first three quarters of FY21 (April-December 2020) despite the first wave of Covid-19, up 2% two over the year-ago period
At 10:52 am, Nifty PSU Bank, Nifty Auto and Nifty Realty indices were trading higher in the range of 1 per cent to 1.5 per cent on the NSE
The firm reported a consolidated net loss of Rs 16.12 crore for the quarter ended December
The company reported a net loss of Rs 53 crore for the period vis-a-vis a net profit of Rs 41 crore in Q1FY20
Office property segment is expected to fare better compared with others, though new leasing is expected to come down sharply. Hotels are also expected to see sharp drop in revenues.
Sales bookings of DLF, Sobha, Puravankara, Prestige Estates, Brigade Enterprises, Mahindra Lifespace Developers, Godrej Properties, Oberoi Realty and Kolte Patil have been taken into account