Realty share price target

We expect muted execution for construction companies on a YoY basis amid delay in receiving appointed dates coupled with mixed order inflow trend. For real estate companies, sales volume growth is likely to be a function of new launches (in some cases). Retail (malls) and hospitality are...

The uptick in new leasing, delivery of the 1.1 msf JP Morgan campus, 4.6 msf of the development pipeline, and a 5 msf potential acquisition opportunity in Chennai. Therefore, we recommend a BUY on the stock with a TP of Rs 420/share.

We expect healthy revenue growth for construction companies on a YoY basis driven by improved execution, albeit order inflow trend is mixed. For real estate companies, sales volume is likely to witness strong growth by favourable macro drivers, demand and new launches (in some case). Going ahead, Omicron led restriction and likely launches in Q4 will be key monitorables for real estate companies. Sales volumes to remain healthy; Omicron impact key ahead...

Latin expression ‘Citius, Altius, Fortius’ means ‘Faster, Higher, Stronger’.
In spite of two successive Covid waves in India in CY20 and CY21, listed developers have weathered the storm remarkably well and sector consolidation has accelerated along with balance sheet de-leveraging. In CY21, the clear winner was the residential segment with a combination of low mortgage rates, stable residential prices, strong salary/hiring growth in the IT/ITeS sector, and continued Work-from-Home driving demand.

we recommend a BUY on the stock with a TP of Rs 410/share.

We expect strong revenue growth for construction companies on a YoY basis amid a benign base, driven by improved labour availability and despite a monsoon led seasonally muted quarter. For real estate companies, sales volume is likely to recover sharply driven by favourable macro drivers, demand and new launches (in some cases). Going ahead, festive season led new launches and its demand momentum will be key monitorables for residential real estate. Sales volumes rebound; festive season to see launches...

While initial expectations were for new residential launches to commence from Oct’21 to coincide with the beginning of the festive season, the waning of the second Covid wave, record low mortgage rates and strong hiring/salary growth in the IT/ITes sector has led to developers preponing many launches to Aug-Sep’21 which have seen strong buyer demand. We expect this momentum to be carried forward into Q3FY22 (festivals of Dusshera and Diwali) and expect developers to post record sales booking numbers in H2FY22 led by new launches.

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,...

In Q4FY21, we expect strong revenue growth for construction companies driven by a benign base and pick-up in execution. For real estate companies, key highlight will be continued robust residential sales volumes growth led by factors such as pent up demand, benign interest rates and measures such as a cut in stamp duty in Maharashtra. Residential sales volumes traction to remain healthy We anticipate residential sales will maintain their strong momentum in Q4FY21 led by pent up demand, benign interest rates, launches and...