Realty Stocks Rally Up to 5% Amid Investor Optimism Ahead of Godrej, Phoenix Results and Akshaya Tritiya Boost
The Indian real estate sector witnessed a significant upswing in investor sentiment on April 30, with several major realty stocks surging as much as 5 percent. The rally in the sector was driven by multiple factors, including anticipation surrounding upcoming quarterly earnings reports from major developers such as Godrej Properties and The Phoenix Mills, as well as the festive momentum linked to Akshaya Tritiya—a traditionally auspicious time for investments.
The Nifty Realty index rose sharply by over 3 percent in early trading hours to reach 897.90, marking its highest level in the past four trading sessions. This surge reflects growing investor confidence and interest in the real estate sector, bolstered by both strong past earnings and optimistic forecasts for the near future.
Among the key companies in focus is Phoenix Mills, which is scheduled to announce its Q4 FY25 earnings on April 30. Godrej Properties is expected to declare its results on May 2. The market is closely watching these announcements, with investors positioning themselves ahead of potential positive surprises. On the other hand, Oberoi Realty, which announced its Q4 results on April 28, reported a 45 percent year-on-year (YoY) decline in net profit to Rs 433 crore. Despite this fall, brokerage firm Axis Securities maintained a bullish stance on the real estate sector as a whole, citing broader growth trends and strong fundamentals.
Investor interest in real estate was further fueled by the arrival of Akshaya Tritiya on April 30, a day regarded as highly auspicious for new beginnings and wealth-related decisions. Traditionally associated with gold purchases and asset investments, Akshaya Tritiya often sees heightened activity in both residential and commercial property markets. Speaking about the significance of the day, Manoj Dhanotiya, CEO of MicroMitti, noted, "Akshaya Tritiya adds urgency and optimism to the buying cycle, often accelerating investments that align with wealth-building strategies." This sentiment clearly resonated in the stock market, as it overlapped with ongoing earnings optimism.
Stock-wise, Godrej Properties emerged as one of the top gainers, climbing nearly 5 percent to Rs 2,197 per share. Macrotech Developers (Lodha) also gained 4.5 percent, trading at Rs 1,345.9. The rally in Macrotech followed its strong Q4 performance, where the company reported a 38.5 percent YoY increase in net profit to Rs 921.7 crore and announced a final dividend of Rs 4.25 per share for FY25. DLF, a heavyweight in the sector, advanced over 3 percent to Rs 679, while Phoenix Mills saw a nearly 3 percent rise to Rs 1,676.
Other real estate players like Sobha, Prestige Estates, and Oberoi Realty also participated in the rally, each gaining more than 2 percent. Brigade Enterprises registered a more modest uptick of around 1.7 percent. However, not all stocks shared in the optimism—Anant Raj and Raymond bucked the trend, posting marginal losses during the session.
The combination of festive optimism and fundamental earnings momentum appears to have created a bullish backdrop for the realty sector. With more earnings announcements due in the coming days, investor attention remains sharply focused on how major developers report on their financial performance and guide for the upcoming fiscal year.
