Analysts bullish on Indian real estate firms on continuing upcycle

Lodha Developers

09/06/2023 09:45

** Analysts keep bullish view of Indian real estate firms on
upticking sales, price hikes and likely peaked-out interest
rates 
    ** Motilal Oswal says interest rates likely to have peaked
out
    ** Adds, growth to be complemented by market share gains on
increased penetration into more markets 
    ** Improving product mix, sustainable price hikes will boost
profitability - MO note 
    ** Macrotech Developers  MACE.NS , Prestige Estates Projects
 PREG.NS  and Godrej Properties  GODR.NS  MO's preferred picks 
    ** Antique Stock Broking says Gurugram and Noida markets
"most consolidated", DLF  DLF.NS  has competitive advantage of
pricing power 
    ** Adds Mumbai and Thane "lucrative markets", top developers
include MACE, GODR and Oberoi Realty  OEBO.NS  
    ** PREG is market leader in Bengaluru, one of the steadiest
and robust markets - ASB note 
    ** ASB analysts expect momentum to continue in FY24
    ** Nifty Realty Index  .NIFTYREAL  rose 1% earlier in the
day on Friday, before trimming gains to 0.15% as of 1:51 PM IST

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))