Page 39 - Macrotech Developers News Today

Major real estate developers in India have seen their liquidity and credit profiles improve despite the Covid-19 pandemic, thanks to strong sales momentum in the housing market.

The Nifty Realty index closed 0.2 per cent up at 537.15.

The major event on the domestic front will remain the quarterly corporate earnings as the flow of announcements will increase. Around 380 companies will release their quarterly numbers in the coming week

The sustained sales momentum witnessed in the housing property market over the last three financial years has resulted in robust improvement in liquidity and credit profile of key listed real estate developers since the outbreak of the Covid-19 pandemic.

Major real estate developers in India have seen their liquidity and credit profiles improve despite the Covid-19 pandemic, thanks to strong sales momentum in the housing market. Collections and realizations have climbed for major developers across Indias top property markets, giving them added strength in leveraging their credit profiles. Companies like DLF, Godrej Properties and Oberoi Realty have seen their gross debts decline by over 42% since the pandemic began in 2019.

The companys re-entry into the Mumbai real estate market is being made along with its partner, Trident Group. DLF Home Developers Ltds wholly-owned arm, Pegeen Builders & Developers, will allot 9,800 equity shares of Rs 10 each at par to Delhi-based Trident Buildtech.

The Nifty Realty index was trading 0.21 per cent down at 535.15.

India Business News: Realty major DLF on Friday reported a 12 per cent rise in consolidated net profit to Rs 527 crore in the first quarter of this fiscal and announced it

The Nifty Realty index closed 0.04 per cent down at 536.1.

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