India property launches to slow in Q1 on delayed approvals, Morgan Stanley says

Prestige Estates Projects

10/04/2024 11:09

** Morgan Stanley forecasts slowdown in new launches by
Indian property firms in Q1FY25 due to delayed approvals from
Real Estate Regulatory Authority 
    ** Outlook likely to be conservative at the start of the
fiscal year, says brokerage; remains "positive" on overall
volumes, price outlook in housing market 
    ** Expect Godrej Properties  GODR.NS  to post weaker
pre-sales in Q1FY25 due to elections 
    ** Prefer cos with higher pre-sales growth like GODR,
Prestige Estates Projects  PREG.NS  vs those with lower growth
such as DLF  DLF.NS  and Oberoi Realty  OEBO.NS  
    ** GODR, OEBO, PREG close 0.6%-1.8% lower while DLF ends
0.3% higher; Nifty Realty  .NIFTYREAL  ends up 0.6% 

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