UBS has started covering India's property market and predicts strong growth for the sector.
Prestige Estates Projects Ltd. and DLF Ltd. have been given 'buy' ratings by the brokerage due to their strong execution capabilities, geographic diversification, and solid balance sheets.
UBS's research report forecasts a compound annual growth rate of 15% in pre-sales from fiscal years 2024 to 2029, indicating a sustainable upcycle in the Indian residential market.
The report also identifies several factors that are expected to support the ongoing real estate boom over the next three to five years, suggesting a positive outlook for the industry.