Indian Firm In S And P Asia Property 40 Index

The sharp fall in shares of realty majors in India has meant that not a single Indian real estate company figures in Standard & Poor’s Asia Property 40 Index.

The index comprises forty Asian realty companies listed in terms of market capitalization, an S&P release said on Monday. From a year high of 13848.09 on 8th January 2008, the BSE Realty Index slumped 51.4% to close at 6728.13 on Monday.

On the weak prospects of domestic realty sector, global consultancy firm J P Morgan said in a report in April that this year could be tough for Indian property developers.

A tight monetary policy, coupled with funding constraints and worsening fundamentals, especially in the residential market, are beginning to hurt. Execution too seems to be slipping, thus making it difficult for companies to maintain growth.”

Among the top ten companies in S&P’s realty index, six are Chinese, three Japanese and one from Singapore.

One Comment

  1. Posted June 27, 2008 at 1:09 am | Permalink

    The S&P Asia Property 40 provides liquid exposure to 40 leading, publicly traded companies in the Asia property and real estate markets. The index’s unique size and liquidity requirements ensure investability and tradability for investors. Guaranteeing diversified exposure across the Asian property market, no single market has more than 15 stocks in the index or represents more than 40% of the index.
    The index is a subset of the S&P/Citigroup Global Property Index, which is comprised of more than 400 stocks from the S&P/Citigroup Broad Market Index (BMI) that fall under the Real Estate Industry Group in the Global Industry Classification Standard (GICS®).

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