In 2023, real estate stocks defied high interest rates, yielding impressive returns. The Nifty Realty index surged by 81.35%, and in 2024, it continued its ascent, rising over 12% by January 12.
Anticipating an RBI interest rate cut, investors embraced real estate stocks. International brokerage firm Jeffreys recommended purchasing Lodha shares, listed as Macrotech Developers, citing a favorable market for property sales.
Macrotech Developers, owning 4,300 acres around Mumbai, stands to benefit from soaring land prices, doubling in the last three years. The Mumbai Trans Harbour link opening further enhances its prospects.
Jeffreys set a target price of Rs 1,290 per share for Macrotech Developers, foreseeing long-term growth. On January 12, the stock surged over 8%.
Macrotech Developers reported a robust performance in the December quarter, with pre-sales surging by 12% to Rs 3,410 crore. Collections amounted to Rs 2,590 crore, reflecting strong financial health.
Introducing new projects covering 20 lakh square feet, Macrotech Developers values the total project at around Rs 6,000 crore. The company remains committed to sustained growth and development.
Data in this section is not a buy/sell recommendation but only a compilation of information on various technical/volume-based parameters
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