Realty stocks trade higher amid neutral outlook for Indian residential real estate sector for FY25

24 Apr 2024 Evaluate

Realty industry stocks were trading higher on the BSE, as India Ratings and Research (Ind-Ra) has maintained a neutral outlook for the Indian residential real estate sector for the financial year 2024-25 (FY25). It said absorption in residential real estate and prices are likely to be supported by affordability and stability of interest rates. However, given the high base of the just-concluded financial year 2023-24, the growth rates are likely to taper down.

Macrotech Developers is currently trading at Rs. 1249.25, up by 15.00 points or 1.22% from its previous closing of Rs. 1234.25 on the BSE.

DLF is currently trading at Rs. 894.05, up by 8.55 points or 0.97% from its previous closing of Rs. 885.50 on the BSE.

Sobha is currently trading at Rs. 1727.00, up by 9.45 points or 0.55% from its previous closing of Rs. 1717.55 on the BSE.

The residential real estate market registered a strong performance in the first three quarters of 2023-24 where the sales growth exceeded 25 per cent year-on-year for the top eight real estate clusters, despite price increases and sticky interest rates. With most regions witnessing a surge in prices, it expects the pre-sales growth to moderate to 8 per cent to 10 per cent year-on-year in the current financial year.

Further, it expects the prices to have been higher 22 per cent year-on-year at end-2023-24 and would be subdued at around 5 per cent for 2024-25, due to the base effect and large amount of new launches planned. Moreover, it expects the mid-income and upper mid-income segments, which emerged as the leading consumer segments in 2023-24, to continue to witness a strong buyer interest.


Macrotech Developers Share Price

1259.50 13.40 (1.08%)
25-Nov-2024 13:14 View Price Chart
Peers
Company Name CMP
Dilip Buildcon 443.45
Macrotech Developers 1259.50
NBCC (India) 94.75
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Ahluwalia Contract(I 961.10
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