ICICI Securities: Realty Sector Outlook For 2021 - Consolidation To Accelerate 
Laborers watch a crane operate on construction site in the Lower Parel area of Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

ICICI Securities: Realty Sector Outlook For 2021 - Consolidation To Accelerate 

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

While Covid-19 concerns may linger in CY21E, we expect the broader theme of consolidation in favour of large, organized developers to accelerate in CY21 as a number of unlisted developers continue to remain in financial trouble and grapple with stalled projects.

Q2 FY21 residential sales bookings for our coverage universe stood at 70-100% of Q2 FY20 sales, which points to continued consolidation and market share gains.

For CY21, all listed developers have a number of planned launches and continue to focus on monetisation of ready inventory.

For office leasing, while CY20E may see a 50% YoY decline in demand, we expect leasing momentum to bounce back in CY21.

Click on the attachment to read the full report:

ICICI Securities Real Estate Sector Update.pdf

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