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Below is quote on Real-estate sector up by 4% by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd 

Real-estate sector up by 4% on the back of higest property registration in the month of July in Mumbai in last one decade.

Recovery on the residential real estate market continues its momentum despite the restriction in Mumbai due to the covid-19 2^nd wave. We have seen strong demand in last 2 quarters and the momentum continues this quarters also. Top 10 listed players continue to gain market share in top cities in India, unorganized players finding it difficult to launch new projects due to weak launch pipeline and unavailability of capital. Listed players like Godrej, Oberoi, Sobha and brigade have a good pipeline of projects to be launch in next 2 years.

On customer front, customers are looking to buy ready to move property or nearby completion property and along with this customer preferred to buy branded players property.

As per the market reports Mumbai has seen the highest property registration in the month of July 2021 of last 10 years, MoM up by 15% and YoY up by 239% which is above the market expectations. We expect the momentum in residential real-estate to continue this year. We have a buy call on Godrej Property with a target price of ₹1900. 

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