Real estate shares rise up to 4%; Phoenix Mills, DLF, Lodha lead gains: Here are three reasons

Morgan Stanley gave "Equal Weight" rating and gave price target of Rs 1,400 and said company is unique in real estate developer space to guide for 20% growth in top line, benefitting from very large land bank in Palava.

The company's Q2 consolidated net profit soared 87% on an annual basis while revenue from operations rose 45% YoY.

So far in 2025, the stock fell 11.5%.

Strong Phoenix Mills Q2 results

Shares of mall operator Phoenix Mills rose 4% to Rs 1,750 apiece on November 3, their highest level since April 23, after the company reported 40% YoY climb in Q2 consolidated net profit. The company's revenue from operations rose 21.5% YoY.

The company's stock was the top gainer on Nifty Realty index on November 3.

HBSC Securities gave a "Buy" rating for the stock and gave price target of Rs 2,110 per share as company's quarterly earnings beat consensus on support from residential performance with core operational performance steadily improving

Jefferies assigned a "Buy" rating to the stock and expects Phoenix to remain on track to deliver mid-teens percentage lease income growth in the long run.

So far in the stock, the stock rose 7%.

DLF up 3% on 'The Dahlias' update

DLF shares rose 3.4% to Rs 782 apiece on November 3 after the company said it has so far sold 221 super-luxury flats for nearly Rs 16,000 crore in its ultra-luxury housing project 'The Dahlias' in Gurugram on strong demand.

In October last year, DLF launched its 17-acre super-luxury housing project 'The Dahlias' at DLF Phase 5 in Gurugram, comprising 420 apartments and penthouses.

According to its latest investor presentation, DLF Ltd has achieved sales bookings worth Rs 15,818 crore till the September quarter in this sought-after housing project.

In a conference call with analysts, DLF management informed that 221 units have been sold in 'The Dahlias' project till the September quarter. The average price per apartment comes to around Rs 72 crore.

Recently, a Delhi-NCR-based businessman has bought 4 apartments, totalling 35,000 sq ft of super area, for Rs 380 crore in this project.

This super luxury project, which was launched after the success of 'The Camellias' at the same location, was instrumental in DLF Ltd's record sales bookings of Rs 21,223 crore in 2024-25.

Earlier this year, DLF's Managing Director Ashok Kumar Tyagi had given guidance of achieving sales bookings of Rs 20,000-22,000 crore in this fiscal year.

Already, DLF has clocked sales bookings or pre-sales of Rs 15,757 crore during the April-September period of this fiscal against Rs 7,094 crore in the corresponding period of the preceding year.

On the financial front, DLF Ltd reported a 15 per cent decline in consolidated net profit at Rs 1,180.09 crore for the second quarter of this fiscal year.

Its net profit stood at Rs 1,381.22 crore in the year-ago period.

The revenue from operations fell to Rs 1,643.04 crore during the July-September period of this fiscal year from Rs 1,975.02 crore a year ago.

Its total income, however, rose to Rs 2,261.80 crore from Rs 2,180.83 crore in the year-ago period on the back of an increase in the other income.

DLF, the country's largest real estate firm in terms of market capitalisation, noted that the housing sector continues to benefit from a resilient economy, increasing desire towards home ownership and growing demand for branded, credible developers.

With inputs from PTI and Reuters