Elcid Investments grabbed headlines in October with a historic single-day leap from Rs 3.53 to Rs 2.36 lakh per share, driven by a special auction session to uncover fair value, its trading volumes and liquidity remain limited. Despite its status as one of Indiaโs most expensive stocks, Elcid now trails PropShare Platina in absolute price terms.
In contrast, PropShare Platinaโs offering is rooted in income-generating real estate, providing a stable and transparent value proposition for investors. PropShare Platinaโs record-setting price reflects the premium nature of its asset, the projected returns, and the growing confidence in REITs as an investment vehicle.
In technical terms, REIT is not exactly a share as real estate is a completely different asset class than equity, but its units are traded like shares in demat accounts. Investors must differentiate between the price of a stock or REIT unit and its underlying valuation metrics, such as yield, book value, or price-to-earnings ratio.
Investors must note that a high price per unit doesnโt necessarily equate to overvaluation, just as a low price isnโt inherently a bargain. For example, investors may find Vodafone Idea shares worth Rs 8 overvalued, while others may find MRF cheap at Rs 1.3 lakh per share.
The REIT market, though nascent, offers a diversification opportunity for retail and institutional investors alike, providing a digital alternative to owning commercial real estate.SM REITs are small and medium real estate investment trustsโ a subclass of Real Estate Investment Trusts (REITs)— that allow individual investors to access real estate that generates rent. SM REITs are smaller than regular REITs and are regulated by the Securities and Exchange Board of India (Sebi). PropShare Platina is the first SM REIT listed in India, whose valuation is backed by its ownership of Prestige Tech Platina, a 246,935 sq. ft. LEED Gold-certified office space located on Bangalore’s Outer Ring Road (ORR). The property, leased to a leading U.S.-based tech company, offers a weighted average lock-in period of 4.6 years and a 15% rent escalation every three years.
The REIT projects an attractive distribution yield of 9% for FY26, supported by the premium location of ORR, which accounts for 34% of Bangaloreโs total office stock.
Itโs not just the price of PropShare Platina that sets it apart but the potential it offers to redefine how investors view real estate-backed securities in the Indian investment landscape, where REITs are emerging as a promising alternative for those seeking income stability and long-term growth.
Highest priced stocks in India
Elcid Investments tops the list of Indiaโs most expensive equities, currently priced at Rs 2.07 lakh, followed by MRF, at a huge difference, with a close price of Rs 1.35 lakh. Other pricey equities include Yamuna Syndicate, priced at Rs 54,052, and Honeywell Automation India, with the sticker price of Rs 50,253.75.
These high valuations stocks reflect the diverse sectors driving Indiaโs equity market, ranging from tires and rubber to commodities trading, electronic equipment, and apparel.
Also read | Vodafone Idea, YES Bank among top 10 wealth destroyers in last five years: Motilal Oswal
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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