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India's leading listed real estate companies experienced significant growth in property sales bookings during the past fiscal year, crossing INR 1.62 lakh crore collectively-a rise of over 20% compared to the previous year. Godrej Properties led the pack with nearly INR 30,000 crore in pre-sales, followed by market heavyweight DLF Ltd and other prominent developers like Macrotech Developers and Prestige Estates. The residential segment, especially luxury homes, dominated sales, while commercial properties contributed modestly. Market analysts attributed this strong performance to growing consumer preference for established, reputable developers amid concerns over stalled housing projects.
India's top 26 listed real estate companies collectively recorded property sales bookings amounting to INR 1.62 lakh crore in the last fiscal year, marking a notable increase of more than 20% compared to the previous financial year. Godrej Properties emerged as the largest player, registering pre-sales close to INR 30,000 crore, which was a sharp rise from INR 22,527 crore recorded earlier. Advertisement
DLF Ltd, despite being the largest real estate firm by market capitalisation, secured the second spot with record sales bookings exceeding INR 21,000 crore. This growth was largely driven by strong demand for its ultra-luxury residential project, The Dahlias, located in Gurugram. Following these two leaders, Macrotech Developers (Lodha Group) reported pre-sales of INR 17,630 crore, increasing from INR 14,520 crore in the prior year, while Bengaluru-based Prestige Estates Projects achieved INR 17,023 crore, although this was slightly lower than the previous year's figure. Delhi-NCR based Signature Global also saw a substantial jump in sales bookings, reaching INR 10,290 crore against INR 7,270 crore in the preceding year.
The residential segment, particularly in luxury housing, accounted for the majority of these sales, with commercial property contributions remaining relatively small. Other significant players in the INR 5,000 crore to INR 10,000 crore annual sales bracket included Mumbai-based Aditya Birla Real Estate, which nearly doubled its sales bookings to INR 8,087 crore from INR 3,985 crore, and Brigade Enterprises from Bengaluru, with sales increasing to INR 7,847 crore.
However, some companies like Sobha Ltd and Puravankara Ltd experienced declines in their pre-sales. Sobha's sales fell to INR 6,277 crore from INR 6,644 crore, and Puravankara saw a dip to INR 5,006 crore compared to INR 5,914 crore in the previous year. Among firms with annual pre-sales under INR 5,000 crore, Delhi-based TARC Ltd more than doubled its sales bookings to INR 3,722 crore, while Mahindra Lifespace Developers and Keystone Realtors also recorded steady growth.
Sales bookings for several other firms, including Raymond Ltd and Embassy Developments, showed marginal growth, while some like Shriram Properties and Eldeco Housing & Industries experienced slight decreases. Notably, many listed companies did not publicly disclose their sales booking data on stock exchanges, leaving gaps in the overall market picture.
Industry experts attribute the robust sales growth of these listed companies to a noticeable shift in homebuyers? preferences toward well-established and reputed developers. This trend is largely driven by a cautious customer base that remains wary of stalled housing projects and prefers to invest with developers known for timely execution and reliability.
As homebuyers grow more discerning due to past experiences with project delays, the preference for reputed listed players is reshaping the competitive landscape. This evolution not only strengthens the position of top-tier companies but also signals the need for smaller or newer developers to build credibility and transparency to stay relevant. The sector's future growth hinges on maintaining consumer confidence through timely delivery and quality assurance.
Source - PTI
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