India's Leading Realty Firms Achieve Sales Worth ₹35,000 Crore in FY25 Q1
The Indian real estate market is demonstrating extraordinary resilience, with a notable surge in demand for residential properties, particularly in the luxury segment. In the first quarter of the fiscal year 2024-25, the country’s 21 major listed real estate firms collectively reported property sales nearing ₹35,000 crore. This strong performance reflects growing consumer confidence and the strategic moves by these developers to harness the momentum of the post-pandemic recovery in the housing market.
Godrej Properties Leads the Pack
Among the major players, Godrej Properties emerged as the leader in terms of pre-sales, with an impressive ₹8,637 crore in sale bookings. This significant figure not only solidifies Godrej Properties' dominance in the market but also reflects the strong demand for residential properties, particularly in the luxury segment.
DLF Ltd. Makes a Significant Leap
DLF Ltd, one the largest real estate firm in India by market capitalization, reported a more than three-fold increase in its sale bookings, reaching ₹6,404 crore in the first quarter. This growth indicates a robust recovery and expansion in the company's market presence, driven by a strong pipeline of projects in key urban centers.
Macrotech Developers (Lodha) and Signature Global Show Strong Performance
Mumbai-based Macrotech Developers, which markets its properties under the 'Lodha' brand, recorded pre-sales of ₹4,030 crore. On the other hand, Gurugram-based Signature Global, a relatively new entrant in the listed space, achieved an impressive ₹3,120 crore in sale bookings during the June quarter, marking a more than three-fold increase from the same period last year.
Bengaluru-based Developers Show Mixed Results
Bengaluru-based Prestige Estates Projects reported sale bookings of ₹3,029.5 crore, a slight decrease from the previous year. However, other Bengaluru-based developers such as Sobha Ltd and Brigade Enterprises reported sale bookings of ₹1,874 crore and ₹1,086 crore, respectively, indicating varied performance within the region. Puravankara Ltd also contributed to the figures with ₹1,128 crore in sales, remaining almost flat compared to the previous year.
Mumbai’s Major Players: Oberoi Realty and Others
In Mumbai, Oberoi Realty, which focuses on the luxury housing segment, reported sales of ₹1,067 crore. Other Mumbai-based developers such as Mahindra Lifespace Developers Ltd and Keystone Realtors (Rustomjee) posted sale bookings of ₹1,019 crore and ₹611 crore, respectively. These figures underscore the sustained demand for high-end properties in India's financial capital.
Pune and Beyond: Regional Developers Contribute to the Growth
Outside of the major metropolitan regions, Kolte-Patil, based in Pune, sold properties worth ₹711 crore, while Sunteck Realty, also from Mumbai, reported sales of ₹502 crore. These numbers highlight the strength of regional developers in capturing local demand.
Mid-size Developers Make Their Mark
Several smaller developers also contributed to the overall success of the real estate sector during this quarter. Shriram Properties from Bengaluru achieved sale bookings of ₹376 crore, while Delhi-based TARC Ltd and Ashiana Housing reported ₹310 crore and ₹235 crore, respectively. Arvind Smartspaces Ltd, based in Ahmedabad, recorded ₹201 crore in sales, and Ajmera Realty & Infrastructure Ltd from Mumbai posted ₹306 crore.
Additionally, Suraj Estate Developers Ltd from Mumbai reported sale bookings of ₹140 crore, Eldeco Housing & Industries Ltd from Lucknow sold properties worth ₹59 crore, and Equinox India Developments Ltd (formerly Indiabulls Real Estate Ltd) achieved pre-sales of ₹82 crore.
*It’s important to note that the sale bookings data of many unlisted real estate developers, such as Tata Realty & Infrastructure Ltd, Adani Realty, Piramal Realty, Hiranandani Group, Embassy Group, and K Raheja Group, was not available, as these companies generally do not report their quarterly and annual sale bookings.
The Role of Strong Consumer Demand
Industry experts attribute the impressive growth in sale bookings to strong consumer demand post-COVID-19, particularly for residential properties. The pandemic has significantly shifted consumer preferences, with an increasing number of buyers seeking spacious, well-designed homes from reputed developers. This change in demand has particularly benefited branded players with a proven track record of delivering high-quality projects.
Additionally, the perception of real estate as a safe and stable investment, particularly in uncertain times, has fueled the desire for homeownership. This trend has led to a substantial increase in sales for both listed and unlisted developers with strong brand recognition and reliability.
The Path Forward
As the Indian real estate market continues to recover from the impacts of the pandemic, the focus on branded, reliable developers is expected to intensify. Consumers are likely to remain cautious, prioritizing developers with a strong track record and financial stability. This trend is expected to drive further consolidation in the industry, with leading players like Godrej Properties, DLF Ltd, and Macrotech Developers continuing to dominate the market.
Conclusion
The June quarter of FY25 has highlighted the resilience and adaptability of India’s real estate sector, with major developers achieving impressive sales figures despite the challenges posed by the broader economic environment. As the market continues to evolve, the emphasis on quality, trust, and consumer satisfaction will remain central, shaping the future trajectory of the industry.
