The Nifty Realty index has surged 14% in the last 7 trading days, with select stocks rising up to 27% in anticipation of a rate cut in the upcoming RBI Policy. Here's technical view on realty stocks.
The company bucked the slowdown in the discretionary space by reporting a robust performance for its mall portfolio in the December quarter
In its Q3 update, Phoenix Mills said its consumption (retailer sales) in Q3FY25 stood at Rs 3,998 crore, up 21 per cent over Q3FY24
In Q2FY25, the company reported retailer sales (consumption) of Rs 3,289 crore, reflecting a 25 per cent increase over Q2FY24, with gross retail collections reaching approximately Rs. 812 crore
The rise in The Phoenix Mills share price came after the company reported a strong set of September quarter (Q2FY25) and (first half of Financial year 2025 (H1FY25) business update.
The uptick in The Phoenix Mills share price came after the company said that it unit, Casper Realty Private Limited, has been declared as the highest bidder for two prime city-centric plots in Mohali
This increase in the company's share price followed the board of directors' approval for a Bonus Equity Share issuance in the ratio of 1:1.
The fall in the share price came after the company saw its margin squeeze in the June quarter of financial year 2025 (Q1FY25).
Real-estate stock update: Realty stocks were witnessing some profit-taking on Thursday, as the BSE Realty index has rallied over 23 per cent so far in 2024.
Meanwhile, thus far in the calendar year 2024, the Nifty Realty index has surged 21 per cent, as compared to 2 per cent rise in the benchmark index.
Analysts believe the company's growth trajectory remains intact, but current valuations imply that near-term growth prospects are priced in
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Malls usually sign 9-year agreements with retailers with a rental hike of 15 per cent
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Brokerages expect double digit earnings growth over the next three years
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.
Company's recovery and expansion after impact of Covid-19 expected to improve rentals and occupancies
Capital infusion, lower debt will help execute expansion plan
Currently, it has 6.9 million (mn) sq. ft of malls in cities such as Mumbai, Pune, and Bengaluru, among others