A whole host of real estate stocks like Godrej Properties, Oberoi Realty and Brigade Enterprises were buzzing in trade today.
All of these companies reported strong Q4FY21 numbers. Godrej Properties reported best-ever quarter in terms of bookings and sales volumes went up by 16 percent on a year-on-year (YoY) basis. Given the launch pipeline and strong balancesheet, the management expects strong bookings in FY22 as well.
Similar is the story with Oberoi Realty – for FY21 the company recorded sales of Rs 3,280 crore. Strengthening residential cycle and good project pipeline is keeping the management confident that the same performance will continue in FY22.
According to the management, a strong pipeline on ongoing and upcoming projects and favourable market conditions will maintain the momentum going for Brigade Enterprises.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.