BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Heading into the festive season in India in H2 FY22, listed developers have lined up a number of launches across tier I cities.
Low mortgage rates, stable property prices and robust hiring outlook for IT/information technology enabled services and financial services, especially in South India and continued work-from-home is expected to support residential housing demand.
While we are believers in an upcycle for the residential sector, we are of the view that a sustained single digit sales price compound annual growth rate is beneficial for all stakeholders rather than a super cycle similar to FY03-07 where prices went up by three to four times in a short period.
We estimate that the pan-Indian residential market share for our coverage universe will grow from 25% in FY21 to 29% in FY24E.
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