The shares of real estate companies surged strongly on April 30, pushing the Nifty Realty index up by over 3 percent to near 897.90 in early trade, in a sign of rising investor interest ahead of prospective earnings reports by leading companies.
This is the highest level seen by the index in last four trading sessions.
Phoenix Mills is set to report its January-March quarter earnings on April 30, while Godrej Properties will announce its earnings on May 2. Oberoi Realty on April 28 reported a 45 percent YoY fall in net profit at Rs 433 crore in Q4FY25, but Axis Securities in a note held a positive outlook for the overall sector.
The real estate space is also in focus on auspicious occasion of Akshaya Tritiya on April 30, which "adds urgency and optimism to the buying cycle, often accelerating investments that align with wealth-building strategies," said MicroMitti CEO Manoj Dhanotiya.
Godrej Properties shares surged nearly 5 percent to trade at Rs 2,197 apiece, while those of Macrotech Developers (Lodha) were up 4.5 percent to trade at Rs 1,345.9 apiece. Notably, Macrotech Developers on April 24 had reported 38.5 percent YoY rise in net profit to Rs 921.7 crore in Q4, and had announced a final dividend of Rs 4.25 apiece for FY25.
Heavyweight DLF shares meanwhile surged over 3 percent to trade at Rs 679 apiece. Phoenix Mills shares were meanwhile trading nearly 3 percent higher at Rs 1,676 apiece.
Sobha, Prestige Estates and Oberoi Realty shares were up over 2 percent while those of Brigade Enterprises were trading nearly 1.7 percent higher.
Anant Raj and Raymond shares however bucked the trend to trade in the red with marginal losses.
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