Synopsis
At a time when the Nifty Realty index is up 46% and major players such as Macrotech and Godrej are up 86% and 45%, respectively, Oberoi Realty has risen only 33%. But volumes and valuations may be camouflaging some engaging pointers.
At times, stock market indicators may not be in sync with the bigger picture when it comes to niche players. Especially in a cyclical business like the realty sector. Consider this. Over the last one year, the Nifty Realty index is up 46%. Major players like Macrotech Developers and Godrej Properties are up 86% and 45%, respectively. Yet, Oberoi Realty, the realtor with the highest margins in the industry at 52%, the highest return on capital
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