Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Listed Indian real estate developers reported a blockbuster H1FY26, with aggregate pre-sales soaring 47% YoY to INR 73,100 crore, led by giants like DLF and Prestige Estates.</li>
<li>This isn't a simple cyclical rally. It's a structural consolidation, as deleveraged balance sheets (five of 11 top players are net cash) allow organized players to seize market share.</li>
<li>The battleground has shifted from sales to execution. While pre-sales are strong, flat OCF highlights a critical lag, making 2H launch delivery and cash conversion the key metrics to watch.</li>
</ul>


Listed Indian real estate developers reported a blockbuster H1FY26, with aggregate pre-sales soaring 47% YoY to INR 73,100 crore, led by giants like DLF and Prestige Estates.
This isn't a simple cyclical rally. It's a structural consolidation, as deleveraged balance sheets (five of 11 top players are net cash) allow organized players to seize market share.
The battleground has shifted from sales to execution. While pre-sales are strong, flat OCF highlights a critical lag, making 2H launch delivery and cash conversion the key metrics to watch.


Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26</li><li>The momentum has broadened, with Tier-2/3 cities fueling mid-premium housing demand and core metros leading the luxury segment</li><li>Driven by urbanization, rising incomes, and the prevalence of nuclear families, demand is stabilizing</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26The momentum has broadened, with Tier-2/3 cities fueling mid-premium housing demand and core metros leading the luxury segmentDriven by urbanization, rising incomes, and the prevalence of nuclear families, demand is stabilizingContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Real Estate (Q2FY26 Results Preview): Sustenance to drive presales momentum

<ul><li>Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q1FY26 earnings missed estimates on the back of higher-than-expected NIM compression and elevated credit costs emerging from unsecured and retail CV segments</li><li>Healthy loan growth (+14% YoY/+4% QoQ) was driven by secured businesses</li><li>Deposit growth (+14% YoY/+2% QoQ) hugged loan growth, as CASA ratio clocked in at 40.9% (-209bps QoQ) on the back of de-growth in floating SA balances and continued traction in TD sweeps (+22% YoY)</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q1FY26 earnings missed estimates on the back of higher-than-expected NIM compression and elevated credit costs emerging from unsecured and retail CV segmentsHealthy loan growth (+14% YoY/+4% QoQ) was driven by secured businessesDeposit growth (+14% YoY/+2% QoQ) hugged loan growth, as CASA ratio clocked in at 40.9% (-209bps QoQ) on the back of de-growth in floating SA balances and continued traction in TD sweeps (+22% YoY)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Kotak Mahindra Bank, Sobha

<ul><li>Demand backed sales momentum: The residential segment witnessed a strong rebound in Q1FY26, backed by robust sales and resilient demand across mid premium and luxury categories</li><li>Developers like Prestige Estates, DLF and Sobha delivered record-high quarterly presales, reinforced by new launches and sustained buyer sentiment</li><li>While FY25 faced moderation due to high base effect, delayed approvals, and EOI-to-sales conversion challenges, Q1FY26 signals a revival, marked by improved launches and price resilience</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Demand backed sales momentum: The residential segment witnessed a strong rebound in Q1FY26, backed by robust sales and resilient demand across mid premium and luxury categoriesDevelopers like Prestige Estates, DLF and Sobha delivered record-high quarterly presales, reinforced by new launches and sustained buyer sentimentWhile FY25 faced moderation due to high base effect, delayed approvals, and EOI-to-sales conversion challenges, Q1FY26 signals a revival, marked by improved launches and price resilienceContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Real Estate (Q1FY26 Results Preview): Presales Resilient on Robust Demand

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>Promoters of multiple large-cap Indian firms made significant insider purchases in March 2025.</li>
<li>Sectors with notable activity include financials, real estate, and specialty chemicals.</li>
<li>Many of these stocks have already rallied post-purchase, with gains reaching up to 30%.</li>
</ul>


Promoters of multiple large-cap Indian firms made significant insider purchases in March 2025.
Sectors with notable activity include financials, real estate, and specialty chemicals.
Many of these stocks have already rallied post-purchase, with gains reaching up to 30%.


Insider Buying Trends in Indian Equities (Market Cap > USD 1 Billion) – March 2025

India

Sobha Limited provides construction services. The Company offers design and architecture, mechanical, plumbing, interiors, landscape, residential, commercial, and civil construction services. Sobha serves customers in India, Singapore, and United Arab Emirates.

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Sobha Ltd (SOBHA IN)

Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

Indian real estate developers see H1FY26 with pre-sales up 47% to INR 73,100 crore. Structural consolidation, not just cyclical rally, as players...

Nimish Maheshwari

Real Estate (Q2FY26 Results Preview): Sustenance to drive presales momentum

Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26

HDFC Securities

HSIE Results Daily: Kotak Mahindra Bank, Sobha

Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q1FY26 earnings missed estimates on the back of higher-than-expected NIM compression

HDFC Securities

Real Estate (Q1FY26 Results Preview): Presales Resilient on Robust Demand

The residential segment witnessed a strong rebound in Q1FY26, backed by robust sales and resilient demand across mid premium and luxury categories

HDFC Securities

Insider Buying Trends in Indian Equities (Market Cap > USD 1 Billion) – March 2025

Promoters increased stakes in key large-cap Indian stocks in March'25, signaling strong conviction. Focus on financials, real estate, and chemicals...

Sreemant Dudhoria,CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic Report on Indian Realty: Why H1's Record Sales Mask a Deeper Cash Flow & Execution Test

​Indian real estate developers see H1FY26 with pre-sales up 47% to INR 73,100 crore. Structural consolidation, not just cyclical rally, as players...

Nimish Maheshwari

Real Estate (Q2FY26 Results Preview): Sustenance to drive presales momentum

Following the strong price surge and record sales of FY24/25, the Indian real estate market is entering a phase of mature, steady growth in FY26

HDFC Securities

HSIE Results Daily: Kotak Mahindra Bank, Sobha

Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q1FY26 earnings missed estimates on the back of higher-than-expected NIM compression

HDFC Securities

Real Estate (Q1FY26 Results Preview): Presales Resilient on Robust Demand

The residential segment witnessed a strong rebound in Q1FY26, backed by robust sales and resilient demand across mid premium and luxury categories

HDFC Securities

Insider Buying Trends in Indian Equities (Market Cap > USD 1 Billion) – March 2025

Promoters increased stakes in key large-cap Indian stocks in March'25, signaling strong conviction. Focus on financials, real estate, and chemicals...

Sreemant Dudhoria,CFA

Indian real estate developers see H1FY26 with pre-sales up 47% to INR 73,100 crore. Structural consolidation, not just cyclical rally, as players...