Jefferies sees India's housing market demand trend to stay intact in 2024

Mindspace Business Parks REIT

09/01/2024 09:31

** India's residential sales to see an about 20% growth
after a strong 2023, says Jefferies
    ** There is significant headroom for volumes to rise in
medium term
    ** Special Economic Zone rules amendment for real estate
investment trusts (REITs) have resulted in leasing uptick for
office in late 2023 - Jefferies
    ** Relaxation in SEZ rules should drive improved flexibility
for large-office holders; upgrades Mindspace Business Parks REIT
 MINS.NS  to "buy" from "hold"
    ** Downgrades Prestige Estate Projects  PREG.NS  to
"underperform" from "hold"; sees accelerated project investments
requirements, given limited land bank as a key overhang on
higher multiples
    ** Jefferies says weak P&L, lesser clarity on potential land
bank could limit upside for Sobha  SOBH.NS , downgrades to
"hold" from "buy"
    ** Nifty realty index  .NIFTYREAL  rose 81.3% in 2023


 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))