Sunteck Realty Ltd will launch two new ultra-luxury housing projects in Mumbai and Dubai by June next year with an estimated revenue of Rs 20,000 crore, a top company official has said. Sunteck Realty will develop these two ultra-luxury housing projects under a by-invite-only real estate lifestyle brand ‘Emaance’. “We are entering into the ultra-luxury … Read more
A higher Budget outlay for Pradhan Mantri Awas Yojana (PMAY), re-introduction of 100% tax holidays on construction of affordable houses and increasing the interest deduction limit on home loans are some of the demands of the real estate industry from the government in this year’s budget. A slew of favourable announcements in this sector could … Read more
Realty stocks jumped up to 7.2% on Friday after the rate-setting committee of the Reserve Bank of India (RBI) left the repo rate unchanged for the seventh time in a row. Mahindra Lifespace Developers gained the most in the Nifty Realty index. The other top gainers were Godrej Properties, Oberoi Realty, DLF, Brigade Enterprises, Macrotech … Read more
Brokerage firm Jefferies maintained a buy rating on Sunteck Realty. Credit Suisse is bullish on L&T, UltraTech Cement, and Cummins India while it maintains an underperform stance on Container Corp, ABB India, and Voltas. CLSA continues to like HUL, ITC, and Dabur India while it has maintained its sell rating on Britannia Industries and Nestle … Read more
Shares of realty developer Macrotech Developers (Lodha) surged 43% in the past week as property registrations remained buoyant in Mumbai and Maharashtra in February. Despite the recent rally, the stock has lost nearly 10% on a year-to-date basis. February housing unit registrations in Mumbai were down 7% year-on-year (YoY) but rose 8% month-on-month (MoM) despite … Read more
Investors could consider accumulating shares of residential real estate developers amid the recent weakness as the upcycle in the sector is likely to extend over the next three years, said analysts. , , , and could gain as much as 20-27% over the next one year, according to analyst consensus estimates compiled by Bloomberg. “Outlook … Read more