Real Estate Stocks: Oberoi Realty and Brigade hit 52-week highs amid positive outlook for realty market

Zee Business research analyst Aman Nahar has high hopes for the real estate market. He says that the market is in an upbeat mood, and, with the festive season just around the corner, there can be a growth of 15 to 20 per cent in real estate property inquiries. He said that momentum for the demand for property is already high, as it was up by 19.7 per cent year-on-year and 4.9 per cent quarter-on-quarter from April to June. 

The analyst says buyers are fast approaching real estate companies for inquiries, and high transaction volumes are expected to continue in real estate markets in Bengaluru, Mumbai, and Pune.

Nahar said that while demand is stable for affordable and mid-range properties, there is a tremendous boom in the luxury real estate segment.

He said that considering the growing demand for properties, the residential market is gearing up for new launches this festive season. 

Nahar says that rising demand can be the reason why customers may not get discounts from real estate developers. 

He says that there is strong sales momentum in the real estate projects of Eternia, Enigma, and Sky City Borivali. 

Amid the positive outlook of Zee Business research for the real estate market, ZeeBiz takes you through a list of prominent real estate stocks. 

Oberoi Realty

The share of the real estate company hit a 52-week high of Rs 1160.30 in early morning deals on Wednesday.

The share was trading 1 per cent higher at Rs 1158.50 at the time of writing the report.

It was the second day in succession when the share price hit a 52-week high.

The company's share in the last six months has performed well, soaring 30.63 per cent.

It has outperformed the benchmark Nifty 50, which has risen 10.47 per cent in the six-month period.

DLF

The share hit the day's high of Rs 522.55 before slipping 0.34 per cent to Rs 519.35 in early trading hours on Wednesday.

The share was in high demand on Tuesday as it hit a 52-week high of Rs 525.75 after its joint managing director and chief business officer, Aakash Ohri, said that the company had a residential launch pipeline of around Rs 20,000 crore in Gurugram, Panchkula, Mumbai, and Chennai this fiscal.

Godrej Properties

The share of the real estate firm hit the day's high of Rs 1665.05 in early morning deals.

It was trading flat at Rs 1659.50 at the time of writing the report.

The company has seen a significant surge in its stock in the last six months, with its share price soaring 42.32 per cent in the duration.

It outperformed the Nifty 50, which has risen 10.57 per cent in the last six months.

The company last week announced a change in its management when Subhasish Pattanaik was appointed the Zonal CEO, East & West, with effect from September 1.

Brigade Enterprises 

The stock of Brigade Enterprises also hit a 52-week high in early trading on Wednesday when it reached as high as Rs 649.90. 

The share had also hit a 52-week high on Monday.

There is a lot of interest in the scrip as the spurt in volume was more than 1.68 times on Wednesday morning. 

The stock was trading higher by 0.70 per cent at Rs 637.50.    

In the last five trading sessions, the share has gone up by 7.47 per cent against the Nifty 50's rise of 1.27 per cent in the same duration.

Brigade is one of the leading real estate companies in South India, having affordable to ultra-luxury projects in its portfolio.

The company recently reported a robust sales (residential and commercial) value CAGR of 26 per cent over FY19–23 to Rs 4,107 crore.

Prestige

The share of the real estate company was trading down 0.92 per cent at Rs 635.75 in early morning deals on Wednesday.

The company's share price hit a 52-week high on September 1 after it announced that it was planning Hyderabad's largest mixed-use township.

Last month, the group also launched its largest township in Bengaluru, targeting a Rs 6,000 crore topline.