DLF, Godrej Properties, and Other Realty Stocks Fall Up to 5% Amid Profit Booking Over Rising Indo-Pak Tensions

Real estate stocks took a significant hit on May 9, as rising tensions between India and Pakistan triggered a wave of profit booking among investors. The sharp decline pushed the Nifty Realty Index down nearly 3.7%, settling around 813 points.

The index remains the market’s worst performer, extending its losses for a second consecutive session amid growing geopolitical tensions. Over the past two days, the index has declined by more than 6%, signaling widespread investor caution.

Among individual stocks:

• DLF Ltd plunged nearly 5%, trading at ₹618 per share.
• Macrotech Developers (Lodha) dropped over 4% to ₹1,236.
• Anant Raj and Raymond each fell almost 5%, to ₹416 and ₹1,468, respectively.
• Prestige Estates, Godrej Properties, and Sobha Realty lost over 3%.
• Phoenix Mills and Brigade Enterprises declined more than 2% each.
• Oberoi Realty slid about 1.7%.

The sharp correction followed military developments across the border. The Indian armed forces carried out targeted strikes on terrorist camps in Pakistan under Operation Sindoor. In retaliation, Pakistan launched missile attacks at several Indian locations, which were successfully intercepted by Indian defense systems. The situation escalated with overnight cross-border firing, further spooking markets.