Macrotech leads the decline despite a YoY profit spike as real estate stocks plummet amid TCS layoffs and poor profits.

On July 28, real estate company shares saw large losses as investors' confidence was tempered by some of the players' poor profits. TCS layoffs contributed to the industry's decline. The Nifty Realty index fell more than 4% as a result of the steep decline in share prices, making it the market's biggest sector loss today. For the fifth straight session, the real estate index continued to decline, closing at 911.90.

The Nifty Realty Index fell more than 4% as a result of the steep decline in share prices, making it the market's biggest sector loss today. For the 5th straight session, the real estate index continued to decline, closing at 911.90.

The index's biggest loser was Macrotech Developers' (Lodha) stock, which fell more than 6% to settle at Rs. 1,198.70 a share. The business announced a net profit of Rs 674.7 crore for the first quarter of the fiscal year 2026 on Saturday, July 26. Compared to the Rs 475.3 crore net profits recorded in the same quarter of the prior fiscal year, this is a 42% year-over-year increase. However, compared to the reported net profit of Rs 921.7 crore for the January-March quarter, net profit decreased 27% on a sequential basis.

Although it climbed by more than 23% year over year, the company's operating revenue decreased by more than 17% sequentially from Rs. 4,224.3 crore in Q4 FY25 to Rs 3,419.7 crore in Q1 FY26. Earlier in the day, Macrotech Developers' shares dropped more than 7%, hitting an intraday low of Rs. 1,190.60 per share. The stock has recovered some of its losses since then.

According to an exclusive Moneycontrol investigation, TCS is laying off some 12,000 workers, or 2% of its workforce, to become more flexible and future-ready. The IT behemoth's action coincides with swift technological advancements. The move was made to address future skills, not because of artificial intelligence, the company's CEO, K. Krithivasan, told Moneycontrol. The real estate industry is anticipated to be negatively impacted by a slowdown in the IT sector.