Shares of listed real estate developers surged on April 15, supporting a broader rally in Indian markets, and pushing the Nifty Realty index up nearly 6 percent, the highest level for the index in six sessions.
Shares of Anant Raj were the top gainer on the index, rising over 8 percent, also emerging as one of the top gainers on the Nifty Smallcap index. Shares of Macrotech Developers rose over 8 percent after Lodha brothers announced that they are amicable settling their dispute over the use of Lodha brand name. DLF and Prestige Estates shares rose over 6 percent each, while Sobha and Oberoi Realty shares ended over 5 percent higher. Phoenix Mills and Brigade Enterprises shares were up over 4 percent, while Godrej Properties shares gained over 3 percent. Raymond shares closed 2 percent higher.
Choice Broking in its latest note said the valuation of real estate companies are looking more reasonable after the recent correction. "...Residential Real Estate Sector demand is expected to moderate In FY26 after strong growth between FY23-1HFY25, particularly in the luxury segment. The Income tax reduction In the FY 2026 Union Budget is expected to improve disposable income, benefiting the affordable and mid-Income housing segments. Post the last six-month stock price correction, stocks under coverage are trading at reasonable valuation (Godrej Properties, Sobha, Mahindra Lifespace Developers)."
On April 9, RBI Governor Sanjay Malhotra had announced the MPC's decision to cut the benchmark repo rate by 25 basis points, a move that is expected to drive property sales as equated monthly instalments (EMIs) on home loans are slated to get lower. While realty stocks however didn't immediately factor in the development, the pack significantly rallied on April 15, in line with the broader market surge, with Nifty Realty index emerging as the top sectoral gainer.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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