New Delhi, June 29 -- A strong pipeline of housing completions is expected to support demand for late-stage building materials over FY27-FY29, although near-term challenges such as inflationary pressures and water supply restrictions could affect construction timelines, according to a report by Equirus Securities.

The report said homes launched between 2022 and 2025 are expected to be delivered over FY27-FY29, driving demand for products such as tiles, bathware, paints, wood panels and adhesives.

India's housing market entered a rebalancing phase in the first quarter of 2026, with demand declining for the second consecutive quarter by 2.2 per cent quarter-on-quarter, even as prices increased 14.1 per cent year-on-year.

At the same time...