Up 170% from its issue price! This realty player's stock is building wealth for investors

Listed in January 2023, listed SME real estate player Homesfy Realty has been on a roll recently as the stock delivered multibagger returns to the investors in less than four months of its Dalal Street debut. The stock has kept its multibagger status intact even after steep corrections from its peak. Incorporated in 2011, Homesfy Realty is a Proptech player engaged in providing real estate broking services to real estate developers, retail buyers or sellers and investors for residential properties. The company runs its brokerage business in the name of Homesfy with its seven offices located in four cities namely Pune, Mumbai, Noida and Bengaluru. Shares of Homesfy Realty have surged more than 170 per cent at its issue price of Rs 197 apiece. The stock settled at Rs 533 on Thursday, after rising about 9 per cent during the session. The stock has surged about 25 per cent in the last five sessions. Homesfy Realty had raised about Rs 15.86 crore through its initial public offering (IPO), which was open between December 21-23, 2022. The company was listed at NSE's SME platform. The company made a 52-week high at Rs 636.50, which is about 16 per cent higher than its current levels. It tested a 52-week low at Rs 350.55 and has gained 52 per cent since then. Homesfy Realty is India's first listed brokerage, which has reported pre-sales volume in March 2023 quarter at Rs 599 crore, 51 per cent higher on a quarter-on-quarter (QoQ) comparison and 15 per cent up on a year-on-year (YoY) comparison. Homesfy, which reported its first operational update post listing, has reported its best performance so far. For FY23, the average unit price stood at Rs 91 lakh, which is about 8 per cent higher than the previous fiscals Rs 84 lakh. Mumbai’s sales volume was up by 42 per cent, while Bangalore’s sales volume was up by 37 per cent in comparison to FY22. Top developers in FY23 include Lodha, Runwal Group, Prestige, Godrej, and L&T, significant contributors to high sales value and volume growth. Mumbai region contributed about 70 per cent of total sales volume, followed by Bangalore, comprising 20 per cent. Homesfy collaborated with more than 106 developers. According to the data from REA India, housing sales in India rose by 22 per cent to 85,850 units across eight cities between January to March 2023 period from 70,630 units during the same period a year ago. New launches grew 86 per cent to 1,47,780 units from 79,530 units during the same period under review. 

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