Real estate companies Oberoi Realty Ltd. and DLF Ltd. received a rating upgrade from Citi Research as the brokerage turned less bearish and is now neutral on the residential sector given the correction, partly pricing in the risk to the pre-sales guidance and expectations.
India’s property sector has seen a significant price correction since the start of calendar year 2025.
The brokerage upgraded Oberoi Realty to Buy and DLF to Neutral as “implied pre-sales growth expectations are more reasonable post price
correction”.
However, it warned that further price correction cannot be ruled out.
The NSE Nifty Realty declined 1.74% to the day’s low of 823.10. It pared most losses to trade 0.40% lower at 834.30 as of 10:23 a.m. compared to a 0.09% advance in the NSE Nifty 50 index.
Citi Research upgraded Oberoi Realty to ‘Buy’ from ‘Neutral’, while it cut the target price to Rs 1,895 from Rs 2,415 apiece. The current target price implied a 19.67% upside from Monday’s closing price.
The brokerage upgraded DLF Ltd.’s stock rating to ‘Neutral’ from ‘Sell’. Citi cut the target price to Rs 750 from Rs 775. The current target price implied 11.33% upside from Monday’s closing price.
Oberoi Realty share price rose 2.02% to Rs 1,615.50 apiece. It erased gains to trade 0.80% lower at Rs 1,570.95 apiece as of 10:26 a.m., as compared to a 0.11% advance in the NSE Nifty 50 index.
DLF share price fell 2.16% to Rs 659.15 apiece. It pared losses to trade 0.51% lower at Rs 670.25 apiece as of 10:27 a.m.
. Read more on Markets by NDTV Profit.Oberoi Realty share price rose 2.02% to Rs 1,615.50 apiece. Read MoreMarkets
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