How Top 5 Realty Firms Fared In 2015
It seems the markets have had a real good Christmas this year. Year 2015 might be ending soon but it is certainly giving a reason to cheer for the markets in its last few days. The benchmark S&P BSE Sensex and the Nifty50 opened on a positive note on Monday. Both were trading up by nearly 0.5 per cent due to value-buying in blue-chip stocks. A strong Rupee against the US Dollar along with a mixed trend in various Asian markets buoyed the sentiment of the Indian market. At 10.30 am, the 30-share BSE index Sensex was trending at 25,961.60 up 122.89 points (0.48 per cent). Similarly, the 50-share NSE index Nifty was at 7,895.20, up 34.15 points (0.43 per cent).
PropGuide lists out the top five Indian real estate companies by market valuations and checks out how they fared in 2015:
For India's largest commercial real estate developers, 2015 was a mixed year. This year, DLF completed the 50 per cent stock sale in two Delhi-based development projects to Singapore's GIC fund. The Competition Commission of India approved the of ₹1,992-crore joint venture between DLF Home Developers Ltd and GIC in November. Total debt on the realty giant, which has a market capitalisation of Rs 20,292 crore, increased four per cent in the third quarter from the previous quarter to ₹22,520 crore. At 11.30 am, the company's stocks were trading at Rs 113.75 at BSE, down 0.48 per cent.
Mumbai-based residential construction major Oberoi Realty, which has a market capitalisation of Rs 8,992 crore, did not have a happening 2015. In the September quarter, revenues were up only two per cent year-on-year at Rs 187 crore due to lower sales from existing inventory. The company's upcoming projects in Mumbai and suburbs are likely to improve the company's situation in the December quarter. At 11.30 am, the company's stocks were trading at Rs 265 at BSE, down 0.36 per cent.
Bangalore-based Prestige Estate, with a market capitalisation of Rs 7,238 crore, recently acquired Red Fort India Real Estate Holdco's 62.54 per cent stake in Bengaluru's Exora Business Park for Rs 1,400 crore. Currently, Prestige has 64 ongoing projects aggregating to 65 million square feet developable area, and 33 upcoming projects aggregating to 40 million square feet of developable area in major South Indian cities, according to an Economic Times report. At 11.30 am, the company's stocks were trading at Rs 193 at BSE, down 0.36 per cent.
Promoters of the company recently sold 1.37 per cent stake to Kotak Mahindra Bank for Rs 90 crore. Godrej Properties made news when it announced that it had sold 300 apartments at over Rs.700 crore, within a week at its flagship project, The Trees, in Mumbai's Vikhroli. The Mumbai-based company, with a market capitalisation of Rs 6,785 crore, had a good 2015. At 11.30 am, the company stocks were trading at Rs 340 at BSE, up 2.05 per cent.
With a market capitalisation of Rs 3,090 crore, Sobha entered into the commercial space recently by launching Sobha City Mall at Sobha City Thrissur, Kerala's largest integrated township. Sobha Developers has been adversely affected by the rains and floods of this year in Chennai and Bengaluru. (Bengaluru and Chennai are the company's first and second largest markets, respectively). At 11.30 am, the company stocks were trading at Rs 314.60 at BSE, up 0.85 per cent.
Godrej DLF BSE News And Views Oberoi Realty