Bangalore: IT hub Bangalore real estate market is gaining momentum beating the gloomy quarter after the T-issue looming over the southern part of the country. Developers like Sobha Developers and Prestiage estate have got huge investor interest after strong sales in last quarter.

Over the last month, shares of Sobha and Prestige have gained drastically to 27pc and 19 pc, as compared to the other quarter. For three months, sales of Sobha piled up 20 pc to reach Rs 632.2 cr, while Prestige went up by 31 pc to achieve Rs 1,150 cr. The sales of these developers indicate the strength of the Bangalore’s real estate market.

In a report by Cushman Wakefield the IT hub would be getting benefits from its IT industry and the great bonanza is the deprecation in the rupee. According to sources, Bangalore has become the leading metro in inventory absorption in both residential and commercial requirements. Both Sobha and Prestige are ahead in their guidance numbers in terms of sales, cash collection and launches.

The two realtors have strong balance sheets, with Sobha having 1.5 to Debt-to-equity and Prestige is having 1 in the ratio. Debts of both the firms will increase but their debt-to-equity will be unchanged.