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After a subdued H1 FY25, Indian real estate developers are gearing up for a surge in project launches in H2. Bengaluru-based companies like Prestige Estate Projects, Puravankara, Sobha, and Brigade Enterprises have announced expansive plans. Prestige aims to launch projects worth INR 52,000 crore across 53 msft, while Puravankara plans 15.7 msft, valued at INR 13,000 crore. Sobha and Brigade also have robust pipelines, with launches of 5.5 msft and 16 msft, respectively. The increase follows delays due to approvals and election-related disruptions. Developers are optimistic about smoother processes ahead, signalling strong growth for the sector in the second half.
After a subdued first half (H1), real estate developers are preparing for a flurry of project launches in the second half (H2) of the financial year 2025. Prominent Bengaluru-based realty companies recently shared their ambitious expansion plans during their post-earnings conference calls. Advertisement
Leading developers such as Prestige Estate Projects, Puravankara, Sobha, and Brigade Enterprises are scaling up their operations with major launches. Prestige Estate Projects has announced plans to introduce developments worth INR 52,000 crore by the end of March next year. These projects span cities like Bengaluru, Chennai, Hyderabad, Goa, and the Delhi-NCR region, covering a total of 53 million square feet (msft). The projected sales bookings value of these launches is estimated at INR 52,114 crore.
The second-half launches for Prestige are set to be five times larger than those in H1. Prestige initiated 10 msft across five projects during H1, with a gross development value (GDV) of INR 10,000 crore. Of this, launches in the second quarter accounted for INR 8,600 crore. Similar trends are evident across the real estate sector, with other developers also ramping up their launch pipelines for H2.
Puravankara launched 1.8 msft of developable area during H1, which included new phases in existing projects alongside a new project. For H2, the company plans to introduce 12.27 msft of new projects and an additional 3.44 msft in ongoing phases. This brings Puravankara's total planned developable area for H2 to 15.7 msft, with an estimated GDV of INR 13,000 crore-a significant increase compared to H1.
Sobha Limited, which reported a profit after tax (PAT) of INR 26.1 crore for the second quarter of FY25, has also outlined a strong pipeline. The company plans to develop 19.29 msft of residential space across 18 projects, with 5.5 msft scheduled for H2. Earlier this week, Managing Director Jagadish Nangineni shared that Sobha had launched 3.53 msft across five projects during H1. Similarly, Brigade Enterprises, which launched 4.35 msft during H1, is preparing to introduce 16 msft in H2.
The sharp increase in H2 launches across the industry is attributed to delays in approvals and disruptions caused by election-related activities that diverted officials to other responsibilities. Earlier this week, Irfan Razack, Chairman and Managing Director of Prestige Group, explained during an investor call that these issues had been largely resolved. He expressed confidence that post the elections in Maharashtra, there would be no further hurdles affecting project approvals.
In conclusion, the Indian real estate sector is poised for a strong recovery in H2 FY25, with major players planning large-scale launches to meet pent-up demand. Developers remain optimistic about smoother approval processes post-election. These expansive pipelines reflect the sector's resilience and underline its critical role in driving urban growth and economic development in the coming months.
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