According to PTI, which compiled data from regulatory filings, 26 of India's largest listed real estate companies reported combined sales bookings of almost Rs 35,000 crore during the September quarter of the fiscal year 2024–25. The majority of these sales, which were driven by strong demand in the residential segment, reflect the ongoing recovery in the housing market following the pandemic.
In Q2 of FY25, these companies reported sales bookings of a total of Rs 34,985 crore. With pre-sales of Rs 5,198 crore from July to September, Godrej Properties stood out as the top performer and the biggest listed real estate company.
The rise has been driven by the high demand for residential real estate, especially in important cities like Bengaluru, Mumbai, and Delhi-NCR.
Strong Sales for All Major Players
Macrotech Developers Ltd., a prominent company based in Mumbai that sells real estate under the Lodha brand, announced revenues of Rs 4,290 crore in the September quarter. Bengaluru's Prestige Estates Projects made Rs 4,022.6 crore in sales bookings, while Delhi-NCR's Max Estates made Rs 4,100 crore.
During the quarter, Signature Global, which is well-known for its housing developments in Gurugram, achieved pre-sales of Rs 2,780 crore.
Growth Is Also Witnessed by Smaller Players
A number of small players reported success in spite of the difficulties. Sales for Pune-based Kolte-Patil Developers totaled Rs 770 crore. Under the Rustomjee brand, Mumbai-based Keystone Realtors reported earnings of Rs 700 crore. Other competitors such as Ashiana Housing (Rs 673 crore) and Shriram Properties (Rs 568 crore) also experienced large sales bookings.
However, some companies battled with revenues below Rs 500 crore, including Mahindra Lifespace Developers Ltd (Rs 397 crore) and Arvind Smartspaces (Rs 464 crore), among others.
Factors affecting performance
A chunk of the market slowdown might be linked to the unlucky Shraadh season, which often results in a drop in property sales. Additionally, monsoon rains and delays in regulatory permits for new projects had an influence on the sales figures of several enterprises.
Branded Developers Benefit From Revival
The recovery of the real estate market following COVID has resulted in a dramatic shift in consumer demand. This tendency is especially obvious in the increased demand for properties from publicly traded real estate corporations and larger developers with proven track histories.
In contrast, many buyers are afraid to work with developers that have had legal or financial issues, as evidenced with various NCR-based builders such as Unitech and Jaypee Infratech. These companies have left thousands of buyers in limbo, resulting in continuing legal fights and complaints with real estate regulatory authorities.
