Optimism abounds for Indian real estate, says Elara Capital

Lodha Developers

20/11/2023 08:06

** Indian real estate going through optimistic times on the
back of buoyant residential and commercial leasing segments,
brokerage Elara Capital says
    ** Most developers posting robust residential real estate
sales despite monsoon-ridden Q2; brokerage expects surge led by
festival season, strong launch pipeline 
    ** Office market resilient in Q2; banking, financial
services and insurance players driving leasing activities owing
to large deals closing - Elara
    ** Adds hybrid work mode, 'return to office' to help leasing
gain momentum
    ** Trend of demand consolidation towards grade A developers
to persist, commercial sector posed for stronger-than-expected
FY24 led by steady occupier confidence - Elara 
    ** Brokerage has "buy" rating on Macrotech Developers
 MACE.NS , Sobha  SOBH.NS , Mahindra Lifespace Developers
 MALD.NS  
    ** Rates Godrej Properties  GODR.NS , Oberoi Realty
 OEBO.NS , Prestige Estates Projects  PREG.NS  and Brigade
Enterprises  BRIG.NS  with "accumulate" 
    ** Nifty Realty index  .NIFTYREAL  has climbed more than 60%
so far this year, outperforming ~9% rise in Nifty 50 index
 .NSEI 

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