We expect strong YoY revenue growth for construction companies driven by a depressed base, albeit a decline on a QoQ basis on account of the second wave. For real estate companies, sales volumes are expected to come off sequentially, though much better than washout base of Q1FY21. Sales volume to decline QoQ amid second wave lockdowns We anticipate residential sales momentum to take a breather in Q1FY22E owing to second wave. On a medium term, triggers such as pent up demand, benign interest rates, launches will continue to boost momentum,...