1 hr ago
Axis Capital Retains Four Real Estate Picks Amid Steady Demand
Axis Capital studied how homes were selling in India’s biggest cities during August.
More homes were sold than in the same month a year earlier.
Most sales came from projects that had already been launched, rather than brand-new projects.
Home prices also increased, which made the total value of sales rise.
Hyderabad and the Mumbai Metropolitan Region performed especially well.
Sales were weaker in the National Capital Region and Bengaluru, although their results were generally near longer-term averages.
The number of unsold homes remained relatively controlled.
Axis Capital believes established and listed developers may benefit and named four companies as its top picks.
Housing absorption across India’s top seven cities rose 4% year-on-year to 59.4 million sq ft in August.
Sustenance bookings increased 6% to 53.7 million sq ft and made up 90% of total bookings.
Average realisation rose 8% year-on-year to Rs 11,503 per sq ft, lifting sales value 13% to Rs 68,300 crore.
Axis Capital retained Prestige Estates, DLF, Brigade Enterprises and Max Estates as its four residential-sector top picks.
The brokerage set target prices implying upside of 40% for Prestige, 49% for DLF, 47% for Brigade and 30% for Max Estates.
- Who
- Axis Capital and the listed developers Prestige Estates Projects, DLF, Brigade Enterprises and Max Estates.
- What
- Axis Capital retained four real estate stocks as top picks and reported steady housing absorption, rising prices and controlled inventory across India’s top seven cities.
- Where
- India’s top seven residential markets, including Hyderabad, the Mumbai Metropolitan Region, the National Capital Region, Bengaluru and Pune.
- When
- The market data covers August, with the report also assessing launch trends since December 2025.
- Why
- Axis Capital expects housing demand to remain consistent if project launches continue and property prices keep rising steadily.
Key facts
- Top-seven-city absorption
- 59.4 million sq ft in August, up 4% year-on-year.
- Sustenance bookings
- 53.7 million sq ft, up 6% year-on-year and representing 90% of total bookings.
- Average realisation
- Rs 11,503 per sq ft, up 8% year-on-year.
- Sales value
- Rs 68,300 crore across the seven markets, up 13% year-on-year.
- Inventory
- About 634,000 units, with housing overhang near 17 months.
- Prestige Estates target
- Rs 2,060, implying 40% upside, according to Axis Capital.
- DLF target
- Rs 1,000, implying 49% upside, according to Axis Capital.
- Other target prices
- Rs 890 for Brigade Enterprises, implying 47% upside, and Rs 800 for Max Estates, implying 30% upside.
Quotes
Axis Capital
Brokerage providing the residential real-estate market assessment
“Top-7 cities recorded an absorption of 59.4msf, up 4% YoY, despite a high base. The outcome is better than the average of ~58msf seen since Jan-26, which is when the run-rate started seeing an uptick.”
financialexpress.com
“We expect demand to remain consistent going forward so long as launches support and prices see a steady uptick. We also see consolidation continuing in favor of branded/listed developers.”
financialexpress.com
Sources
Related news
Birla Estates Targets Top-Three Position Across Key Indian Markets
India’s Housing Market Grows As Sales Rise, Launches Jump
Indian Property Prices Rise Across 15 Cities in H1 2026
Axis Securities Names 15 Stocks With Up To 40% Upside
Prestige Estates Launches Rs 1,750 Crore Bengaluru Project
Arvind SmartSpaces Shares Rise After ₹500 Crore Bookings
Stocks in Focus as Corporate Orders, Approvals and Actions Arrive
Indian stocks in focus Monday after orders, launches, approvals
Indian Stocks Rise Modestly as Realty, IPO Shares Gain
Stocks in News: IPO Debuts, Deals, Results and Buyback
