Real Estate Stocks Surge: Godrej, DLF, Prestige Lead Gains Post BJP-led Mahayuti Alliance Victory In Maharashtra Assembly Election 2024

After the BJP-led Mahayuti alliance victory in the Maharashtra Assembly election 2024, the stocks of real estate companies witnessed a surge on Monday (November 25). The Nifty Realty Index jumped over 3 per cent, making it the second-best performing sector of the day.

Godrej Properties Gains Nearly 4 per cent

Godrej Properties saw a sharp rise of 3.84 per cent, trading at Rs 2,966.85 by 2:03 pm IST on NSE. The stock hit an intraday high of Rs 3,015.90, inching closer to its 52-week high of Rs 3,402.70.

DLF Climbs Over 3.5 per cent

DLF Ltd, another prominent player in the real estate sector, saw its shares surge by 3.62 per cent to Rs 832.45. While still below its 52-week high of Rs 967.60, the stock’s upward movement signals growing optimism around urban development and housing projects in Maharashtra.

Prestige Estates Jumps Nearly 5 per cent

Among the biggest gainers was Prestige Estates Projects Ltd, which rose by 4.66 per cent to trade at Rs 1,707. During the session, the stock hit a high of Rs 1,714.60. The company’s market capitalisation now stands at Rs 73.55K crore.

Mahindra Lifespace Developers Up 4.35 per cent

Mahindra Lifespace Developers also witnessed a rally, gaining 4.35 per cent to reach Rs 481.30. The stock remains below its 52-week high of Rs 678.80.

Oberoi Realty Inches Higher

Oberoi Realty Ltd posted modest gains of 1.04 per cent, trading at Rs 1,962 by 2:02 pm IST. The stock's intraday high of Rs 2,046.

The market capitalisation of the company stood at Rs 71.31K crore as of now.

Macrotech Developers Joins the Rally

Macrotech Developers Ltd gained 1.25 per cent, trading at Rs 1,260.40.

Landslide Victory Boosts Real Estate Sentiment

The BJP-led Mahayuti alliance secured a thumping majority of 235 seats in the 288-member Maharashtra assembly.