Oberoi Realty, Lodha Developers stocks down today, after block deals

New Delhi, July 23 – Shares of Oberoi Realty and Lodha Developers (Macrotech Developers) declined sharply on Wednesday following large block deals totalling $395 million (Rs 3,412 crore) on Indian stock exchanges. The transactions, which involved the sale by institutional investors, triggered selling pressure across the realty sector, dragging the Nifty Realty index down by 2.90%.

Oberoi Realty Block Deal Worth $230 Million

Oberoi Realty witnessed the sale of 1.1 crore shares, amounting to 3% of the company’s equity, in a block deal valued at $230 million (Rs 1,987 crore). The shares were sold at a floor price of Rs 1,753.20 per share, a 4% discount to the previous closing price.

Following the transaction, Oberoi Realty stock fell 4.16% to Rs 1,750.20 on the National Stock Exchange (NSE).

Lodha Developers Shares Drop After Rs 1,425 Crore Deal

In a similar move, Lodha Developers (Macrotech Developers) saw 98 lakh shares, representing 1% of the company’s equity, change hands for $165 million (Rs 1,424.97 crore). The deal was executed at a floor price of Rs 1,384.60 per share, also reflecting a 4% discount.

Post-transaction, the stock plunged 6.64% to Rs 1,346.50 on the NSE.

Institutional Clean-Up Trade and Market Impact

According to sources, the block deals were part of a clean-up trade by an existing stakeholder and conducted under Rule 144A and Regulation S guidelines, typically used for placements with institutional and offshore investors. Goldman Sachs acted as the sole placement agent for both transactions.

While the identities of the sellers and buyers were not disclosed, market participants expect the stakes to be picked up by a mix of domestic and foreign institutional investors, given the structure and size of the deals.

The broader impact of the block deals was visible across the real estate sector. The Nifty Realty index slipped to 967.15, with all constituents trading in the red. Along with Oberoi and Lodha, Godrej Properties and Prestige Estates also dropped over 2% intraday.

Earnings Drag Adds to Oberoi Realty Weakness

The stock pressure on Oberoi Realty was further exacerbated by weak earnings announced earlier this week. The company reported a 28% year-on-year decline in its consolidated net profit to Rs 421.25 crore for the April–June quarter (Q1 FY26), compared to Rs 584.51 crore in the same period last year.

Total income also fell to Rs 1,073.98 crore from Rs 1,441.95 crore, although the company reported property sales worth Rs 1,639 crore during the quarter.

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