Sobha, Indiabulls Real Estate, Sunteck Realty, Oberoi Realty and Godrej Properties surged between 5 per cent and 7 per cent on the BSE.
Its ability to reduce debt is crucial for further gains
Real estate analysts say it could be no more than a portfolio investment; Sobha says not in talks with Godrej
At 11:03 am, the S&P BSE Capital Goods index, the top gainer among sectoral indices, was trading nearly 4 per cent higher at 12,071 points.
The real estate sector has been struggling for the last three years and has not revived since demonetisation and the introduction of good and services tax (GST).
Company says growth momentum seen in FY19 will continue this financial year