Change in rating, Top Picks: No Change in Rating. Minor TP changes to factor in Dec-20E valuation roll over. Top Picks: Oberoi realty & Prestige estates. Over last 1-Yr, Nifty Realty index has corrected 36%. Large part of this fall has been on back of tepid real estate demand, weak pricing power and higher interest rate. The fall was further accentuated by NBFC liquidity issues and its impact on overall lending to real estate sector.