Builders see an uptick in realty sales

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According to a report by real estate service firm Anarock, revenue from housing sales of the top nine stock exchange-listed real estate developers touched ₹5,800 Crore during the third quarter of this fiscal year
During the festive season, revenue jumped 4% quarter on quarter and 2% on an annual basis.
On a year to date basis, listed developers sold housing projects worth ₹16,500 Crore against almost ₹15,730 Crore last year, recording a 5% increase
Godrej Properties, Prestige Estates and Sobha, which are part of the Realty Tracker smallcase, were the top 3 players with maximum sales revenue during the first 3 quarters. Together, they accounted for a 55% share of the total sales revenue of ₹16,500 Crore
The report also states that housing sales bookings of top firms rose by 2%, to nearly ₹5,800 Crore during the third quarter

The Realty Tracker smallcase comprises real estate companies to allow investors to efficiently track and invest in the realty sector.

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Concerns over slowing production and weakened demand in China due to the Coronavirus outbreak, as well as Moody’s slashing India’s growth forecast to 5.4% for 2020 from 6.6% projected earlier pulled markets down this week.
Nifty closed down 0.27% at 12,080.9 and Sensex closed at 41,170.1 down 0.21%.

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