Home Sales Going Up but Realty Shares are Stagnant

  • Investing.com
  • Stock Market News
Home Sales Going Up but Realty Shares are Stagnant
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Data from property consultants Anarock showed that home sales for the first quarter of CY2021 surged 29% in India’s top seven cities. Home prices have also moved up 1-2% in the January to March quarter. Customers took advantage of cuts in stamp duties, discounts by developers, and a fall in home loan rates to buy homes.

However, the increase in sales hasn’t reflected in the share prices of realty companies. Here is how some of the most well-known real estate companies in India fared during the March quarter:

  1. Oberoi Realty Ltd (NS: OEBO )

Closing price on December 31, 2020: Rs 583.4

Closing price on March 25, 2021: Rs 551.9

Percentage Gain/Loss: Down 5.4%

  1. Godrej Properties Ltd (NS: GODR )

Closing price on December 31, 2020: Rs 1,432.15

Closing price on March 25, 2021: Rs 1,332.1

Percentage Gain/Loss: Down 7%

  1. Brigade Enterprises Ltd (NS: BRIG )

Closing price on December 31, 2020: Rs 249.1

Closing price on March 25, 2021: Rs 248.95

Percentage Gain/Loss: Flat

  1. Indiabulls (NS: INBF ) Real Estate Ltd (NS: INRL )

Closing price on December 31, 2020: Rs 82.2

Closing price on March 25, 2021: Rs 82.65

Percentage Gain/Loss: Flat

  1. Sobha Developers Ltd. (NS: SOBH )

Closing price on December 31, 2020: Rs 414.65

Closing price on March 25, 2021: Rs 433.8

Percentage Gain/Loss: Up 4.6%

  1. Prestige Estates Projects Ltd (NS: PREG )

Closing price on December 31, 2020: Rs 266.1

Closing price on March 25, 2021: Rs 306.35

Percentage Gain/Loss: Up 15%

  1. DLF Ltd (NS: DLF )

Closing price on December 31, 2020: Rs 232.85

Closing price on March 25, 2021: Rs 277

Percentage Gain/Loss: Up 19%

With the exception of Prestige and DLF, all other shares have traded sideways during this period.

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