UBS initiates coverage on realty stocks; sees 18-26% upside in DLF & Prestige Estate

The real estate sector has been experiencing strong growth, as evidenced by the 40% surge in the BSE Realty Index over the past year and its 2% rise in November 2024, outperforming the Sensex. The Nifty Realty Index has gained 8% in FY25 YTD, surpassing broader market indices. Brokerage firms are increasingly covering the sector, fueled by sustained buying interest and large-scale upcoming projects valued at over INR 1.2 trillion.