India’s top 26 listed real estate companies collectively sold properties worth nearly ₹35,000 crore in the July-September quarter of this fiscal year. Among them, Godrej Properties stood out with the highest sales bookings, reflecting the growing demand in the residential property market.
Godrej Properties and Lodha Group Top the Sales Charts
According to regulatory filings, these 26 companies reported total sales bookings of ₹34,985 crore during the second quarter. The residential segment accounted for most of these pre-sales, indicating robust interest in housing.
Godrej Properties led the market with pre-sales of ₹5,198 crore, making it the largest listed player in terms of sales during this period. Meanwhile, Macrotech Developers Ltd, known for its Lodha brand, recorded ₹4,290 crore in sales bookings, securing its spot as another top performer.
Strong Performances from Other Key Players
Delhi-NCR-based Max Estates achieved sales bookings of ₹4,100 crore, while Bengaluru-based Prestige Estates Projects Ltd followed closely with ₹4,022.6 crore. Another NCR company, Signature Global, reported ₹2,780 crore in sales, primarily driven by high demand in Gurugram.
However, some companies faced setbacks. DLF Ltd, the largest real estate firm by market capitalization, saw a sharp decline in sales bookings, dropping to ₹692 crore due to the absence of new housing project launches.
Other notable performances include Bengaluru-based Brigade Enterprises Ltd with ₹1,821 crore in pre-sales and Mumbai-based Oberoi Realty, which sold properties worth ₹1,442.46 crore.
Mid-Sized Companies Achieve Noteworthy Sales
Several firms reported sales between ₹500 crore and ₹1,000 crore during the quarter. Kolte-Patil Developers Ltd from Pune registered ₹770 crore in sales, and Mumbai-based Keystone Realtors, under the Rustomjee brand, achieved ₹700 crore.
Delhi-based Ashiana Housing Ltd reported ₹673 crore in sales, while Bengaluru’s Shriram Properties booked ₹568 crore. Other Mumbai-based companies, such as Raymond Ltd and Sunteck Realty Ltd, recorded sales of ₹562 crore and ₹524 crore, respectively.
Smaller Companies Face Challenges
Smaller listed developers reported mixed results. Ahmedabad-based Arvind Smartspaces sold properties worth ₹464 crore, and Mumbai-based Mahindra Lifespace Developers booked ₹397 crore. On the lower end, Arihant Superstructures Ltd, Ajmera Realty & Infrastructure Ltd, and Arkade Developers Ltd reported pre-sales of ₹270.8 crore, ₹254 crore, and ₹215 crore, respectively.
Some firms struggled with sales below ₹200 crore. For example, Lucknow-based Eldeco Housing & Industries sold properties worth ₹102.9 crore, while Equinox India Developments Ltd achieved pre-sales of just ₹98 crore.
Factors Affecting Sales in Q2
The second quarter of FY2024-25 saw challenges such as the inauspicious Shraadh period, monsoon rains, and regulatory delays in project approvals. These factors impacted sales bookings for several companies. For instance, DLF Ltd experienced a significant drop in pre-sales, declining from ₹6,404 crore in the first quarter to ₹692 crore in the second.
Demand Shifts to Reliable Developers
The post-pandemic recovery in residential real estate has led to a surge in demand for properties developed by reputable companies like Godrej Properties. Housing prices have risen, and buyers are increasingly favoring developers with proven track records to avoid the risks associated with delayed or incomplete projects.
While listed developers disclose quarterly sales data, many unlisted firms do not. Branded companies, both listed and unlisted, have been the main beneficiaries of this demand revival, as homebuyers seek reliability.
Conclusion
The strong sales figures reflect a shifting housing market where trusted names like Godrej Properties continue to dominate. As the sector evolves, established brands are expected to benefit further, while less reliable developers may struggle to attract buyers.
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