Real estate sector showing signs of improvement, says DLF

Following the first-quarter earnings, the real estate space is buzzing due to a massive year-on-year improvement. DLF stock has improved by over 10% in the last month.

Real estate sector showing signs of improvement, says DLF

Following the first-quarter earnings, the real estate space is buzzing due to a massive year-on-year improvement. DLF stock has improved by over 10% in the last month.

Ashok Tyagi, Whole Time Director, DLF, said, “I think that we are at an upswing, but not as massive as was the case in the late 2000s. Hopefully, the improvement will continue.”

Nifty Realty Index has been outperforming the benchmarks. The index has moved up close to 6% in the past few days, 8% in the past month, and 12% in the past six months.

“From affordable to super-luxury segments, have been buzzing since October, indicating an upswing across the segments,” he added.

He further stated that today, buyers want credible developers. “An increase in the number of credible developers is visible. The bigger ones are getting the price demanded by their product.”

Post launching independent floors, DLF has observed a pick up in price over the previous launch in the past six months.

“An equal degree of enthusiasm is visible for this new segment,” added Tyagi.

Footfalls in malls began to rise in October 2020 but were interrupted by the second wave. “Despite the hesitancy in people to go back, we are able to achieve the October-November levels,” he said.

Source: CNBC TV18