India's red-hot property stocks seen extending run on demand surge

India's property market is rebounding after being in a down cycle for the last six years as a series of headwinds ranging from the pandemic, a bad-loan crisis and a surprise 2016 cash ban hurt demand

Recent weakness in India’s red-hot property stocks could be short-lived as record low interest rates and an economic recovery from the pandemic fuel demand from an increasingly affluent middle class.
 

That’s the view from market watchers, who see large listed firms emerging as the biggest beneficiaries amid an ongoing consolidation in the $200 billion sector. While the S&P BSE Realty Index slid 3.1 per cent in August, the 10-member gauge is up 24 per cent this year and on track for a sixth straight quarterly gain -- the longest run in Bloomberg-compiled data going back to 2007.

"The growth and scale