Sales momentum, portfolio reinforces outlook for Macrotech, Oberoi Realty

The near term trigger is a 22 per cent rise in housing units registered in Mumbai for May to 12,000 units, the highest for the month in the last twelve years

The stocks of Mumbai-based developers Macrotech Developers (Lodha) and Oberoi Realty have been the highest gainers among realty stocks over the last month, rising 31 per cent each.

Strong ongoing sales trends in the core market of Mumbai, record bookings in the March quarter as well as healthy guidance for FY25 led to the gains for the companies which get a majority of their revenues from the country’s financial capital, said experts.

The two stocks have outperformed their large realty peers such as DLF and Mumbai-based Godrej Properties, which have delivered low-to-mid single digit returns over this period. Among other peers, while