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Spotlight on real estate: Here’s why CLSA is bullish on Sunteck Realty, DLF

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Spotlight on real estate: Here’s why CLSA is bullish on Sunteck Realty, DLF

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The Nifty realty index was up 3.5 percent on Monday, and that is after a 6 percent gain that was seen in the last week. CLSA had put out a positive note on the real estate sector where they have upgraded DLF.

The Nifty realty index was up 3.5 percent on Monday, and that is after a 6 percent gain that was seen in the last week.
Indiabulls Real Estate was up 15 percent, Mahindra Lifespaces was up 7 percent, Oberoi Realty, DLF and Sobha were up between 3 percent and 7 percent. This has come in after there was a good Q1FY22 update from Sobha Developers and Macrotech Developers.
Sunteck Realty reported its Q1FY22 earnings numbers as well. Q4FY21 was a record quarter for Sunteck where the company witnessed record high sales and collections.
CLSA continues to like Sunteck Realty and has increased pre-sales estimates by 12 percent and 9 percent for FY22 and FY23 respectively. CLSA had put out a positive note on the real estate sector where they have upgraded DLF.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.
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