Real Estate – Sector Report – Enters consolidation phase
Published on 16 Jan 2026
Real estate companies under our coverage are expected to report steady pre-sales for Q3FY26 driven by sustenance sales. New launches are likely to pick up in the coming quarters. Following residential upcycle over the last few years, FY26 is shaping up as a consolidation period. Overall, we see 10-30% CAGR in pre-sales over FY25-28E for our coverage universe. Further, the leasing segment is on a strong footing as it enters 2026, with sustained visibility and sharp growth in annuity income for PEPL and OBER expected over FY25-28E. We initiate coverage on PEPL IN and BRGD IN with ‘BUY’ rating and ‘Accumulate’ rating on OBER IN.
