Q3 sales updates, new launches point to strong outlook for realty stocks

Street expects sales momentum to continue despite the concerns on Omicron

Robust bookings in the October-December period (Q3FY22), a strong launch pipeline in the ongoing quarter, and market share gains are expected to support the stock prices of listed realty majors.

Companies that have declared their Q3 results have been the biggest gainers (five in the top six) among realty stocks over the past month. Sunteck has been the largest gainer by far rising 35 per cent, followed by Sobha, Kolte-Patil Developers and Prestige Estates Projects, with gains of 26 per cent, 22 per cent and 20 per cent, respectively. Gains for Macrotech and Oberoi Realty are 17 per cent each over