Real estate shares continued their downward spiral, marking consecutive session of losses. Leading the decline was Macrotech Developers (Lodha), whose shares fell over 6% to Rs1,198.70. Despite reporting a 42% year-on-year rise in net profit to Rs674.7 crore for Q1 FY26, the company saw a 27% sequential drop from the previous quarter. Revenue also dipped 17% sequentially, though it rose 23% year-on-year to Rs3,419.7 crore.
Adding to the sector’s woes, TCS announced layoffs of 2% of its workforce—around 12,000 employees—to streamline operations and future-proof its talent pool. While the company clarified that the move wasn’t AI-driven, the tech sector’s turbulence is expected to impact real estate demand, especially in IT hubs.
Other major players facing heat include Prestige Estates and Raymond fell ~3%; Anant Raj, Phoenix Mills, and Sobha dropped over 2%; Oberoi Realty reported a 28% YoY decline in net profit to Rs421 crore, with revenue down 30%. Sobha’s Q1 FY26 net profit more than doubled YoY to Rs13.6 crore, but fell sharply from Rs40.86 crore in Q4 FY25.
Despite interim dividends and long-term growth narratives, the sector faces near-term pressure from earnings volatility, tech sector disruptions, and investor caution.
