New Delhi, Sept. 23 -- It's not easy to ignore real estate anymore.

After years of stagnation, the sector has found its rhythm with record pre-sales, rising collections, and stronger balance sheets. Developers are launching more projects, buyers are back in force, and investors are taking notice.

The numbers tell the story.

In the past three years, many listed realty firms have compounded sales and profits at 20-30% annually, driven by premium launches, robust demand, and steady annuity income. Unlike the previous cycle, growth today is supported by cash flows and leaner leverage.

Yet, valuations have also risen, and not every stock justifies its price. The challenge for investors is separating momentum from sustainable growth. Compan...