Realty stocks recorded a bullish tone on Friday's trading session as major companies have announced their financial performance for the quarter ended September 2020 (Q2FY21) earlier this week. At around 1.26 pm, Nifty Realty was trading at 227.05 up 1.11%. The index has surged to the day's high of 228.85.
On the index,
Godrej Properties was the lead gainer, trading at Rs944.85 per piece up nearly 4%. The company had announced its Q2 result this week.
Godrej Properties recorded a whopping 77.5% decline in consolidated net profit to Rs7.10cr in Q2FY21, compared to Rs31.57cr a year ago same period. Consolidated revenue from operations stood at Rs89.50cr in the quarter under review, against Rs259.67cr a year ago similar quarter.
Further, on the index,
Indiabulls Real Estate and Sobha surged by nearly 2% each.
DLF stock also advanced over 1%, followed by Phoenix which gained marginally.
DLF has posted a net profit at Rs236cr in Q2FY21 compared to a net loss of Rs72cr in the previous quarter. Consolidated revenue stood at Rs1,723cr as compared to Rs646cr in Q1FY21, reflecting a 2.6 x growth.
On the other hand, Brigade Enterprises (-2%) was the top underperformer, followed by Oberoi Realty and OMAXE plunging by nearly 1% each. Sunteck and Prestige Estate were also in the red.