Nuvama sees strong launch pipelines in H2 for Indian homebuilders; Brigade, Prestige top picks
** Apartment launch pipelines by Indian homebuilders are strong for second half of ongoing fiscal year, says brokerage Nuvama
** Brokerage's top picks are Bengaluru-focussed developers Brigade Enterprises BRIG.NS and Prestige Estates Projects PREG.NS
** On the day BRIG up 2.1%, PREG rises 1.8%
** New launches should lead to ramp up in bookings amid low inventory levels and two straight quarters of weakness (Q1 and Q2) - Nuvama
** October launches "decent" across geographies - Nuvama
** Developers have ramped up land capex Y/Y in FY25, utilizing "virtually entire operating cash flows" while debt remained comfortable, which bodes well for growth in next 6-8 quarters, says brokerage
** YTD, shares of BRIG up 38.6% and PREG up 41.2% compared to 31.6% gain in the Nifty Realty Index .NIFTYREAL
Reporting by Hritam Mukherjee and Ananta Agarwal in Bengaluru
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