The Nifty Realty index dropped 2.7% on the day, dragged lower by broad-based declines among constituents. Shares of Lodha Developers were the worst performers on the index, tumbling as much as 6.7% to Rs 1,346.50.
Oberoi Realty shares fell 4.1% to Rs 1,751 amid news of a significant institutional exit. According to a CNBC-TV18 report, an unnamed investor likely offloaded a 3.1% stake in the company via a block deal estimated at $230 million. The floor price for the transaction was reportedly set at Rs 1,753.2 per share, roughly a 4% discount to the stock’s closing price on Tuesday, July 22. The deal was described as a “clean-out trade”, though the identity of the seller has not been disclosed.
Weak earnings add to pressure
The broader weakness in Oberoi Realty shares also followed disappointing first-quarter results. On July 21, the Mumbai-based developer reported a 28% year-on-year decline in net profit to Rs 421 crore for the April-June quarter of FY26. Revenue from operations fell nearly 30% to Rs 987.55 crore.During the quarter, the company’s net profit margin slipped to 39.22%, while EBITDA stood at Rs 607 crore. Oberoi Realty also declared an interim dividend of Rs 2 per share, with a record date of July 25. Subject to approval, the dividend is scheduled to be paid by August 7.
Sector-wide weakness
Other real estate counters also came under selling pressure. Shares of Raymond Ltd and Prestige Estates each fell 2.6%, while DLF, Sobha, Phoenix Mills, Godrej Properties and Brigade Enterprises registered losses ranging between 0.9% and 2.2%.
The selling across the sector reflected investor caution as disappointing earnings, bulk deals and profit-booking weighed on near-term sentiment.Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results?
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