Real estate stocks extend their winning run to the 2nd year; Oberoi Realty surges 60%

Indian real estate stocks continued their bull run for the second consecutive year in 2024, as developers posted strong performance across key operational metrics, including bookings, collections, operating cash flow, and new business development, amid growing demand for residential projects with luxury and ultra-luxury segments emerged as key drivers of this growth. Although housing sales across the top seven cities in India recorded a slight decline of 4% in 2024, totaling approximately 4,59,650 units compared to 4,76,530 units in 2023, the jump in luxury home sales led to an overall sales value increase of 16%, reaching approximately ₹5.68 lakh crore in 2024, up from ₹4.88 lakh crore in the previous year. Pradeep Aggarwal, Founder & Chairman of Signature Global, highlighted the driving forces behind this transformation: “The Indian real estate sector surged in 2024, supported by rising urbanisation, shifting lifestyles, and increasing demand across affordable, mid-income, and luxury segments. At Gulshan Group, 2024 saw the delivery of Gulshan Dynasty, a project that stands as an epitome of luxury and refined living.” Ambika Saxena, Director of Corporate Communications at Bayside Corporations, explains: "Looking ahead to 2025, the luxury real estate market in India is set to witness continued growth, driven by the increasing demand from HNIs and NRIs.