The Nifty Realty index tanked over 34 points or 4.8 per cent to the day's low at 662.85
Nifty Realty Index: Hitesh Tailor, technical analyst at Choice Broking expects Sobha, Oberoi Realty and Prestige Estates to bounce back amid signs of positive divergence on the RSI indicator.
Sobha, Anant Raj, Prestige Estates Projects, Oberoi Realty, Signature Global and Lodha Developers were down in the range of 4 per cent to 6 per cent on the NSE in intra-day trade on Monday.
In the past one month, the realty index has tanked 10 per cent, as against 6 per cent fall in the BSE Sensex.
In the past two weeks, the BSE Realty index has slipped 10 per cent, as against a 2.5 per cent decline in the BSE Sensex.
In the December quarter (Q3FY26), Sobha reported a net profit of ₹15.4 crore, as compared to ₹21.7 crore in Q3FY25, down 29 per cent year-on-year (Y-o-Y)
Despite the drop in key financials, Sobha reported its highest-ever sales value in Q3 FY26 at Rs 2,115 crore, up 52 per cent year on year and 11 per cent sequentially
The sales value of real estate grew 52.3 per cent on year to ₹2,115 crore in the third quarter of financial year 2026, Sobha said in an exchange filing
Nomura highlights that developers are on track for a third consecutive quarter of steady sales momentum, driven largely by sustained interest in branded residential offerings.
In the past one month, the realty index has tanked 8 per cent, as against 2 per cent rise in the Nifty 50.
Sobha stock can potentially rally up to 25% to ₹1,940 levels, hints technical chart; while DLF may gain around 15%. Brigade Enterprises, however, looks weak on the chart.
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The company recorded a 61 per cent year-on-year surge in sales bookings to ₹1,902.6 crore in the second quarter (Q2) of the current fiscal
In Q2, according to the company's filing, Sobha recorded real estate sales value of ₹1,903 crore, reflecting a growth of 61.4 per cent compared to Q2FY25
The key trigger for the sector and listed companies are trends in housing sales. Data on this front does not look favourable