India's Top 21 Real Estate Firms Sell Properties Worth ₹35,000 Crore in June Quarter
Godrej Properties reports highest sale bookings, Mumbai-based Macrotech Developers clocks ₹4,030 crore in pre-sales, Gurugram-based Signature Global achieves ₹3,120 crore in sale bookings
India Real EstateGodrej PropertiesMacrotech DevelopersSignature GlobalDlf LtdResidential PropertiesLuxury HomesCovid PandemicReal Estate MumbaiSep 01, 2024
Except for a few, all major listed real estate developers have shown annual growth in sale bookings in the April-June quarter driven by strong consumer demand for residential properties, especially of luxury homes.
According to the data compiled from regulatory filings, India's 21 major listed realty firms have reported combined sale bookings of ₹34,927.5 crore in the first quarter of 2024-25 fiscal. Out of these combined sale bookings, the bulk of pre-sales came from the residential segment.
Mumbai-based Macrotech Developers, which sells properties under 'Lodha' brand, clocked pre-sales of ₹4,030 crore. Gurugram-based Signature Global, which recently got listed, achieved sale bookings of ₹3,120 crore in June quarter, more than three times from the year-ago period.
Bengaluru-based Prestige Estates Projects clocked sale bookings of ₹3,029.5 crore in June quarter, down from the corresponding period of the previous year. Bengaluru-based firms Sobha Ltd and Brigade Enterprises sold properties worth ₹1,874 crore and ₹1,086 crore, respectively, during the April-June period of this fiscal.
Bengaluru-based Puravankara Ltd achieved sale bookings of ₹1,128 crore, almost flat compared to the year-ago period. Mumbai-based Oberoi Realty, which is into luxury housing segment, sold properties worth ₹1,067 crore last fiscal.
Mumbai-based builders Mahindra Lifespace Developers Ltd and Keystone Realtors (Rustomjee) clocked sale bookings of ₹1,019 crore and ₹611 crore, respectively. Pune-based Kolte-Patil sold properties worth ₹711 crore while Mumbai-based Sunteck Realty sold properties worth ₹502 crore.
Bengaluru-based Shriram Properties achieved sale bookings of ₹376 crore. Delhi-based TARC Ltd and Ashiana Housing achieved sale bookings of ₹310 crore and ₹235 crore, respectively. Ahmedabad-based Arvind Smartspaces Ltd sold properties worth ₹201 crore, while Mumbai-based Ajmera Realty & Infrastructure Ltd reported pre-sales of ₹306 crore.
Lucknow-based Eldeco Housing & Industries Ltd sold properties worth ₹59 crore while Mumbai-based Equinox India Developments Ltd (earlier Indiabulls Real Estate Ltd) achieved pre-sales of ₹82 crore. Mumbai-based Suraj Estate Developers Ltd has reported a sale bookings of ₹140 crore in the first quarter of this fiscal year.
Sale bookings data of many listed players was not available. Industry experts attribute this increase in sale bookings of major listed players to strong housing demand after the COVID pandemic.
Housing market is also witnessing a shift in consumer demand towards those realty companies and brands which have better track record of executing real estate projects. Real estate developers, which are not listed on stock exchanges, generally do not report their quarterly and annual sale bookings.
Tata Realty & Infrastructure Ltd, Adani Realty, Piramal Realty, Hiranandani Group, Embassy Group and K Raheja Group are major players in unlisted space. Post-COVID pandemic, Indian real estate market, especially housing segment, has bounced back sharply on pent up demand and growing desire to have home ownership.
Branded and reputed players, including listed and unlisted ones, have benefited most in this revival cycle as homebuyers do not want to take risk of getting stuck in real estate projects after making payments. Thousands of buyers are still 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. Suraksha Group has won a bid to acquire Jaypee Infratech Ltd (JIL) through insolvency process. The Group has infused capital and is awarding construction contracts to complete around 20,000 unfinished flats in Delhi-NCR.
Thousands of buyers of many NCR-based builders such as Unitech, Ansal API, Supertech Ajanara, The 3C Group, and Today Homes are stuck and fighting legal cases in real estate regulatory authorities at state level, tribunals and courts.
Frequently Asked Questions
Which real estate company reported the highest sale bookings in the June quarter?
Godrej Properties reported the highest sale bookings with pre-sales of ₹8,637 crore.
How much did Mumbai-based Macrotech Developers clock in pre-sales?
Mumbai-based Macrotech Developers clocked pre-sales of ₹4,030 crore.
What is the total combined sale bookings of India's 21 major listed realty firms in the first quarter of 2024-25 fiscal?
The total combined sale bookings of India's 21 major listed realty firms is ₹34,927.5 crore.
Why are homebuyers opting for branded and reputed players in the real estate market?
Homebuyers are opting for branded and reputed players as they do not want to take the risk of getting stuck in real estate projects after making payments.
What is the current status of Jaypee Infratech Ltd (JIL) after the insolvency process?
Suraksha Group has won a bid to acquire Jaypee Infratech Ltd (JIL) through insolvency process and has infused capital to complete around 20,000 unfinished flats in Delhi-NCR.
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