DLF, Godrej Properties, Oberoi Realty: Property Cycle is all set for revival
Investors are increasingly hopeful of a property cycle revival, which coupled with continued consolidation would help listed developers. UBS analysis shows sales of struggling projects increased in the last quarter, and many stressed projects have been revived. UBS thinks this may risk consolidation (as landowners demand a bigger share of the pie) and delays a potential property price upcycle (as new launches increase and inventory is revived).
UBS remains cautious on developers after recent share price gains (up 55% in the past five months) leave valuations close to a 10-year peak: Reuters