Real Estate, Ceramics Q1 Preview - Impact Of Second Covid-19 Phase Lower Than First Phase: Nirmal Bang
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Nirmal Bang Report
We expect the full impact of the second Covid-19 wave to be reflected in Q1 FY22 results.
The impact of lockdown like restrictions in the second phase is expected to be less severe compared to the first phase (in Q1 FY21) and therefore we expect YoY growth in revenue.
We also note that construction activities continued during the second phase of Covid-led lockdown.
Consequently, there was a gradual demand recovery for properties in Q1 FY22 compared to Q1 FY21.
Q1 FY21 was a complete washout period for majority of the real-estate and ceramics companies due to the nationwide lockdown (following the Covid-led disruption).
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