Eighteen major listed real estate developers sold properties worth ₹1.17 lakh crore during the last fiscal with Godrej Properties becoming the largest player posting ₹22,527 crore of sales bookings.
Except for a few realty players, all major developers have achieved higher sales bookings in 2023-24 compared to the preceding financial year.
This was largely driven by strong demand for residential properties, especially luxury homes, across major cities.
Many developers clocked record pre-sales in the 2023-24 fiscal, riding on a surge in consumer demand.
According to the data compiled from regulatory filings, eighteen major listed realty firms have reported combined sales bookings of about ₹1,16,635 crore in the 2023-24 fiscal, up 33% from nearly ₹88,000 crore in the preceding year.
Of these combined sales bookings of nearly ₹1.17 lakh crore, bulk of pre-sales came from the residential segment.
Also Read: The Leela's luxury play: 20 more properties across India soon
Commenting on the strong performance of listed realtors, Dhruv Agarwal, CEO of Housing.com and PropTiger, said, "Listed real estate firms in India have excelled due to strong brand recognition, diversified portfolios, and superior access to capital." Listed realty firms' experienced management practices and adoption of advanced technologies for marketing, sales, and customer service have further strengthened their market position, he observed.
"These elements collectively contribute to their outstanding sales performance, giving them an edge over smaller or non-listed peers," Agarwala said.
In terms of sales bookings, Godrej Properties has become the largest listed player in the 2023-24 fiscal with pre-sales of ₹22,527 crore.
Prestige Estates Projects, based in Bengaluru, clocked sales bookings of ₹21,040 crore to become the second-largest listed player in terms of sales bookings.
Also Read: Office space worth $48 billion available for real estate investment in India
DLF, the country's largest realty firm in terms of market capitalisation, achieved sales bookings of ₹14,778 crore in the last fiscal year.
Selling properties under the 'Lodha' brand, Mumbai-based Macrotech Developers clocked pre-sales of ₹14,520 crore.
Gurugram-based Signature Global, which was listed last year, performed exceedingly well and achieved sales bookings of ₹7,270 crore last fiscal, more than double from the preceding fiscal.
Bengaluru-based firms Sobha Ltd and Brigade Enterprises sold properties worth ₹6,644 crore and ₹6,013 crore during the last fiscal.
Another Bengaluru-based realty company Puravankara Ltd was not far behind and achieved sales bookings of ₹5,914 crore.
Mumbai-based Oberoi Realty, which is in the luxury segment, sold properties worth ₹4,007 crore last fiscal.
Kolte-Patil, which is based in Pune, sold properties worth ₹2,822 crore last fiscal.
Mumbai’s Mahindra Lifespace Developers Ltd and Keystone Realtors (Rustomjee) clocked sales bookings of ₹2,328 crore and ₹2,266 crore, respectively.
Sunteck Realty, headquartered in Mumbai, sold properties worth ₹1,915 crore last fiscal.
Ashiana Housing, based in the national capital, achieved sales bookings of ₹1,798 crore.
Also Read: Kolte-Patil Developers eyes higher property prices this year
Ahmedabad-based Arvind Smartspaces Ltd sold properties worth ₹1,107 crore, while Ajmera Realty & Infrastructure Ltd, with headquarters in Mumbai, reported pre-sales of ₹1,017 crore.
Lucknow-based Eldeco Housing & Industries Ltd sold properties worth ₹388 crore while Mumbai-based Indiabulls Real Estate Ltd ₹280 crore.
Sales booking data of some listed players, like Omaxe, was not available.
Real estate developers, which are not listed on stock exchanges, do not report their quarterly and annual sales bookings.
Tata Realty & Infrastructure Ltd, Adani Realty, Piramal Realty, Hiranandani Group, Embassy Group and K Raheja Group are major players in unlisted space.
Also Read: Explained: Why unsold homes aren’t moving as fast in Hyderabad
Industry experts attribute this surge in sales bookings of major listed players to strong housing demand post-COVID pandemic and the shifting of demand towards those companies and brands which have better track records of executing projects.
Post-COVID pandemic, the Indian real estate market, especially the housing segment, has bounced back sharply on pent-up demand and a growing desire to have homeownership.
The consolidation of consumer demand toward branded and reputed players has also gained momentum as homebuyers do not want to take the risk of getting stuck in real estate projects after making payments.
Thousands of buyers are stuck in housing projects of builders like Unitech and Jaypee Infratech Ltd which defaulted in delivering projects.
Homebuyers of Amrapali Group are getting possession of their flats after intervention from the Supreme Court.
Also Read: New supply of homes, costing ₹60 lakh each, dips 38% across top 8 cities in Jan-Mar: PropEquity
Except for a few realty players, all major developers have achieved higher sales bookings in 2023-24 compared to the preceding financial year.
This was largely driven by strong demand for residential properties, especially luxury homes, across major cities.
Many developers clocked record pre-sales in the 2023-24 fiscal, riding on a surge in consumer demand.
According to the data compiled from regulatory filings, eighteen major listed realty firms have reported combined sales bookings of about ₹1,16,635 crore in the 2023-24 fiscal, up 33% from nearly ₹88,000 crore in the preceding year.
Of these combined sales bookings of nearly ₹1.17 lakh crore, bulk of pre-sales came from the residential segment.
Also Read: The Leela's luxury play: 20 more properties across India soon
Commenting on the strong performance of listed realtors, Dhruv Agarwal, CEO of Housing.com and PropTiger, said, "Listed real estate firms in India have excelled due to strong brand recognition, diversified portfolios, and superior access to capital." Listed realty firms' experienced management practices and adoption of advanced technologies for marketing, sales, and customer service have further strengthened their market position, he observed.
"These elements collectively contribute to their outstanding sales performance, giving them an edge over smaller or non-listed peers," Agarwala said.
In terms of sales bookings, Godrej Properties has become the largest listed player in the 2023-24 fiscal with pre-sales of ₹22,527 crore.
Prestige Estates Projects, based in Bengaluru, clocked sales bookings of ₹21,040 crore to become the second-largest listed player in terms of sales bookings.
Also Read: Office space worth $48 billion available for real estate investment in India
DLF, the country's largest realty firm in terms of market capitalisation, achieved sales bookings of ₹14,778 crore in the last fiscal year.
Selling properties under the 'Lodha' brand, Mumbai-based Macrotech Developers clocked pre-sales of ₹14,520 crore.
Gurugram-based Signature Global, which was listed last year, performed exceedingly well and achieved sales bookings of ₹7,270 crore last fiscal, more than double from the preceding fiscal.
Bengaluru-based firms Sobha Ltd and Brigade Enterprises sold properties worth ₹6,644 crore and ₹6,013 crore during the last fiscal.
Another Bengaluru-based realty company Puravankara Ltd was not far behind and achieved sales bookings of ₹5,914 crore.
Also Read: India's home prices to rise steadily, affordable housing supply to lag demand: Reuters poll
Mumbai-based Oberoi Realty, which is in the luxury segment, sold properties worth ₹4,007 crore last fiscal.
Kolte-Patil, which is based in Pune, sold properties worth ₹2,822 crore last fiscal.
Mumbai’s Mahindra Lifespace Developers Ltd and Keystone Realtors (Rustomjee) clocked sales bookings of ₹2,328 crore and ₹2,266 crore, respectively.
Sunteck Realty, headquartered in Mumbai, sold properties worth ₹1,915 crore last fiscal.
Ashiana Housing, based in the national capital, achieved sales bookings of ₹1,798 crore.
Also Read: Kolte-Patil Developers eyes higher property prices this year
Ahmedabad-based Arvind Smartspaces Ltd sold properties worth ₹1,107 crore, while Ajmera Realty & Infrastructure Ltd, with headquarters in Mumbai, reported pre-sales of ₹1,017 crore.
Lucknow-based Eldeco Housing & Industries Ltd sold properties worth ₹388 crore while Mumbai-based Indiabulls Real Estate Ltd ₹280 crore.
Sales booking data of some listed players, like Omaxe, was not available.
Real estate developers, which are not listed on stock exchanges, do not report their quarterly and annual sales bookings.
Tata Realty & Infrastructure Ltd, Adani Realty, Piramal Realty, Hiranandani Group, Embassy Group and K Raheja Group are major players in unlisted space.
Also Read: Explained: Why unsold homes aren’t moving as fast in Hyderabad
Industry experts attribute this surge in sales bookings of major listed players to strong housing demand post-COVID pandemic and the shifting of demand towards those companies and brands which have better track records of executing projects.
Post-COVID pandemic, the Indian real estate market, especially the housing segment, has bounced back sharply on pent-up demand and a growing desire to have homeownership.
The consolidation of consumer demand toward branded and reputed players has also gained momentum as homebuyers do not want to take the risk of getting stuck in real estate projects after making payments.
Thousands of buyers are stuck in housing projects of builders like Unitech and Jaypee Infratech Ltd which defaulted in delivering projects.
Homebuyers of Amrapali Group are getting possession of their flats after intervention from the Supreme Court.
Also Read: New supply of homes, costing ₹60 lakh each, dips 38% across top 8 cities in Jan-Mar: PropEquity
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