Top News

India's real estate stocks tumble today: Here we decode why
11 May 2026

Shares of major Bengaluru-based real estate firms have witnessed a slump today.

The decline comes amid speculation of a possible return to COVID-era austerity measures like work-from-home (WFH) and virtual operations.

The market reaction follows Prime Minister Narendra Modi's recent appeal to conserve fuel and foreign exchange amid global energy disruption triggered by the US-Iran conflict.

Brigade, Prestige, Puravankara lead the decline
Market reaction

The market reaction has been particularly strong for Brigade Enterprises, Prestige Estates Projects, and Puravankara Limited.

Brigade Enterprises's shares fell by 1.17% to ₹749.35, while Prestige Estates Projects's shares slipped by a whopping 2.96% to ₹1,462.70 during today's trade session.

Similarly, Puravankara Limited's shares also witnessed a decline of 2.20%, trading at ₹213.92.

The NIFTY Realty index also followed suit, slipping by 3.20% to 797.25 points.

PM Modi suggests revisiting flexible and remote working models
Statement

In his address at a public meeting in Hyderabad on Sunday, PM Modi stressed the need for India to consider flexible and remote working models.

He said, "During the Corona period, we adopted work from home, online meetings... Today, the demands of the times are such that if we restart these systems, it will be in the national interest."

FITE seeks government directive on WFH resumption
Sector response

In response to Modi's suggestion, the Forum For IT Employees has sought a clear government directive on WFH resumption across the sector.

"As PM Modi suggested WFH in his speech to help conserve fuel and reduce pressure during energy crisis,the Central Government should immediately issue official notification to companies to allow employees to work from home wherever possible, Simply advising people is not enough... A clear directive is needed to make this effective," FITE said in a post on X.