The nifty property index jumped more than one percent in Thursday’s trading session after property developers announced strong updates for the quarter ending June 2022. Among individual stocks, Sobha Ltd , Ajmera Realty, Indiabulls Real Estate, Oberoi Realty, Godrej Properties, Macrotech Developers (Lodha) were trading higher in a range of 2-12% in early trades.

Shares of Ajmera Realty jumped more than 11% after the company shared its first quarter business update, where the value of its sales rose 261% compared to the same quarter of the year last and by 229% on a sequential basis to 400 crores. Its Q1 collection grew 93% year-over-year (YoY) and 126% quarter-over-quarter (QoQ) to 210 crores.

Shares of Sobha soared as much as 8% after the property company’s total sales value rose to 1,145 crore in the quarter, up 67.7% year-on-year, while sales volume reached 1.36 million square feet (sq.ft), up 51.7% from the quarter of the previous year.

Real estate firm Macrotech Developers on Wednesday reported an almost three-fold jump a year in sales bookings at 2,814 crores in the April to June quarter of this fiscal year due to strong demand for its residential properties.

The company maintained its 11,500 crore presale tips for FY23. Demand remained robust for credible A-grade developers across all segments despite changing macro-economic conditions, Lodha management said.

Macrotech Developers sells its properties under the Lodha brand. It has a major presence in the Mumbai Metropolitan Region (MMR) and the Pune market. The company recently made a foray into Bengaluru.

India’s residential real estate segment recorded a 9-year high in sales volume during the first half of 2022 (January-June), global real estate consultancy Knight Frank said in a note.

According to the report, house prices rose in all markets within a range of 3-9% year-on-year (YoY). It also marks the first half of 2022 as a period in which prices rose year-on-year in all markets for the first time since the second half of 2015.

Knight Frank listed several factors for the increase in home sales, such as buyers’ need to improve their primary lifestyle, low interest rates on home loans and relatively low house prices at current levels. before the pandemic. The renewed need for home ownership sparked by the covid pandemic is also boosting home sales.

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