Nifty Realty Dropped Significantly By 2% During Today’s Volatile Trading Session, Settling Around 896.20

The Nifty Realty index of the National Stock Exchange slipped by 2% in the trading session. It reflects the same sentiment seen in the benchmark guides. When the reporting time came, the realty index dipped by 17.15 points. It was at 1.88%, hovering at 896.20 on profit booking.

Godrej Properties declined by 2.94%, or Rs. 61.90. It brought its share price to Rs. 2041.8. Oberoi Realty declined by 2.91% or Rs. 48.41. The currently trading amount is at Rs 1617.60. Prestige Group and DLF recorded declines of 2.5. Their share prices were Rs 1562.80 and Rs 740.60.

The Nifty Realty index was trading in the red, except Anant Raj Ltd., whose share price traded 3% higher. It was hitting an intraday high of Rs 708. Currently, the trading amount is at Rs 682.75. It is 28% below its 52-week high of Rs 947.90. The 52-week low was at Rs 376.15. It was lower by 81% from its present share price.

Now, the government is considering a tax exemption for data centres for 20 years. The incentive would be linked to goals for capacity addition and job creation. It will give a major boost to the sector.

The Ministry of Electronics and IT is also likely to request that the Ministry of Finance allow input tax credit on the GST levied on the capital assets, which include:

• Data centre construction
• Ventilation
• Heating
• Air conditioning equipment
• Other electrical systems used in data centres

Anant Raj would expect operations to start in the next 3 to 4 months. Its new data centre facilities in Panchkula are of 7MW capacity, and Manesar is of 21MW. It will have an annualised occupancy of 70% which will improve ahead.

Over the next 2 years, we expect DC capacity to rise to 63MW, which would be met through cash flow from the real estate business. DC business revenue will be Rs 1200 crore by FY27. It will be Rs 9000 crore by FY32, at full occupancy.

There will be an increase in occupancy, and DC business revenue will increase from Rs 45.5 crore in FY25 to Rs 700 crore in FY27E. Overall, there will be a 20% IRR for the DC business by the year FY45E.

Prestige Group pre launch new project is Prestige Evergreen