Nuvama sees strong launch pipelines in H2 for Indian homebuilders; Brigade, Prestige top picks

Prestige Estates Projects

28/11/2024 06:16

** Apartment launch pipelines by Indian homebuilders are
strong for second half of ongoing fiscal year, says brokerage
Nuvama
    ** Brokerage's top picks are Bengaluru-focussed developers
Brigade Enterprises  BRIG.NS  and Prestige Estates Projects
 PREG.NS 
    ** On the day BRIG up 2.1%, PREG rises 1.8% 
    ** New launches should lead to ramp up in bookings amid low
inventory levels and two straight quarters of weakness (Q1 and
Q2) - Nuvama    
    ** October launches "decent" across geographies - Nuvama
    ** Developers have ramped up land capex Y/Y in FY25,
utilizing "virtually entire operating cash flows" while debt
remained comfortable, which bodes well for growth in next 6-8
quarters, says brokerage
    ** YTD, shares of BRIG up 38.6% and PREG up 41.2% compared
to 31.6% gain in the Nifty Realty Index  .NIFTYREAL 
   


 (Reporting by Hritam Mukherjee and Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))