Top 5 Real Estate Developers Focused on Supply, Not Demand: Abhishek Lodha
Abhishek Lodha, MD of Lodha Developers, highlights that India's top real estate developers are more concerned with supply constraints rather than residential demand. This focus on quality and consumer service is driving sales and market growth.
Real EstateSupply ConstraintsDemandTop DevelopersAbhishek LodhaReal EstateAug 06, 2025
Post-COVID, the housing market has seen a shift towards larger, branded real estate players. In a recent conference call with analysts, Abhishek Lodha outlined various factors driving demand for these top developers. The primary factor is consumers' desire to upgrade their quality of life by purchasing homes from reputable builders with a track record of successful project execution.
Lodha emphasized that while there may be concerns about the strength of overall demand in urban India, the sales of the top five real estate developers are constrained by supply, not demand. 'These top developers, who focus on quality and consumer service, have strong brands and are unable to meet the high demand for their properties,' he said. This unique position in the Indian real estate market means that any short-term fluctuations in demand are unlikely to impact the sales of these top builders.
The performance of these key developers during the last fiscal year was very strong. 'If you look at the numbers for this quarter, they are very strong. There is no reason to have any concerns about demand, especially for the top five developers,' Lodha reiterated. 'Consumers want to upgrade their quality of life in a low-risk manner, and that's what the top five developers offer.'
Abhishek Lodha also discussed the potential for diversification into different geographies. The top few developers will likely expand their presence in the top cities across the country. 'This will improve the quality of the market and ensure consumers get the best quality products, regardless of the city they live in,' he added.
Lodha believes that the Indian real estate market is at the beginning of a long-term upcycle as India transitions from a low-income to a mid-income country. 'There may be some short-term fluctuations, but the overall direction is positive,' he stated. He also noted that while the affordable housing segment has seen a decline, other segments are performing well. 'It's crucial to analyze sales in value terms, not just in unit terms, for a more accurate picture of the market,' he told analysts.
In terms of annual sales bookings, Godrej Properties emerged as the largest listed player during the last fiscal year with pre-sales of Rs 29,444 crore, up from Rs 22,527 crore in the previous year. DLF, India's largest real estate firm by market capitalization, saw its sales bookings rise to Rs 21,223 crore from Rs 14,778 crore. Mumbai-based Lodha Developers reported sales bookings of Rs 17,630 crore in FY25, compared to Rs 14,520 crore in the preceding year. Bengaluru-based Prestige Estates Projects recorded sales bookings of Rs 17,023 crore last fiscal, down from Rs 21,040 crore in 2023-24, while Delhi-NCR based Signature Global achieved sales bookings of Rs 10,290 crore, up from Rs 7,270 crore.
Frequently Asked Questions
What are the top five real estate developers in India?
The top five real estate developers in India are Godrej Properties, DLF, Lodha Developers, Prestige Estates, and Signature Global.
What is the primary concern for these top developers?
The primary concern for these top developers is supply constraints, not demand issues.
Why are consumers shifting towards larger, branded real estate players?
Consumers are shifting towards larger, branded real estate players because they offer a better quality of life and a low-risk way to upgrade their living standards.
How has the affordable housing segment performed?
The affordable housing segment has seen a decline, but other segments are performing well.
What is the future outlook for the Indian real estate market?
The Indian real estate market is at the start of a long-term upcycle as India transitions from a low-income to a mid-income country, with some short-term fluctuations possible but an overall positive direction.
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