India's Godrej Properties, Macrotech power Nifty Realty to record high

Lodha Developers

08/04/2024 10:50

** India's Nifty Realty index  .NIFTYREAL  hits record high 
    ** Including the day's gain, realty index has logged gains
in 10 sessions out of 12 
    ** Housing sales grew y/y in Jan-March across all markets
except Bengaluru, Mumbai clocked highest sales volumes - Knight
Frank 
    ** Godrej Properties  GODR.NS  and Macrotech Developers
 MACE.NS  top gainers in index, adding 3.5% and 2.5%,
respectively
    ** Godrej posts strong sales at its biggest project in
Gurugram, stock hits record high 
    ** Macrotech, which is up 2.5%, posted Q4 pre-sales at 42.3
billion rupees last week, narrowly surpassing Jefferies'
estimate of 42 billion rupees 
    ** Meanwhile Prestige Estates Projects'  PREG.NS  Q4 sales
rose 21% at 47.07 billion rupees
    ** Expect dip in pre-sales for Prestige due to muted new
launches, says Jefferies; PREG drops 1%

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