Homebuyers turned cautious in the April-June quarter, with sales bookings of 28 major listed real estate companies falling 21% year-on-year to nearly Rs 40,000 crore compared with Rs 50,900 crore in the year-ago period. The dip comes as lower volumes and fewer housing launches weighed on pre-sales amid global economic uncertainties.The housing segment accounted for the bulk of the sales bookings, according to data compiled from investor presentations.Godrej Properties emerged as the largest listed real estate developer by sales bookings, with properties worth Rs 8,651 crore sold in the June quarter, up from Rs 7,082 crore a year earlier.Bengaluru-based Prestige Estates Projects Ltd ranked second, though its sales bookings fell to Rs 6,579.3 crore from Rs 12,126.4 crore. Mumbai-based Lodha Developers Ltd’s pre-sales rose to Rs 4,630 crore from Rs 4,450 crore, while Bengaluru-based Sobha Ltd’s sales jumped to Rs 3,656 crore from Rs 2,079 crore.Signature Global Ltd stood fifth, despite sales falling to Rs 1,970 crore from Rs 2,640 crore.DLF Ltd, India’s largest realty firm by market capitalisation, saw sales bookings plunge to Rs 657 crore from Rs 11,425 crore. The company did not launch any project in the first quarter of FY27.Aditya Birla Real Estate Ltd’s pre-sales declined to Rs 329 crore from Rs 422 crore.
Several developers post sharp growth
Out of the 28 companies, 19 developers reported growth in pre-sales.They were Godrej Properties, Lodha, Sobha, Max Estates, Puravankara, Kalpataru, Embassy Developments, Mahindra Lifespace, Raymond Realty, Sunteck Realty, Kolte-Patil, Shriram Properties, Ajmera Realty, Arvind SmartSpaces, TARC, Sri Lotus Developers, Arihant Superstructures, Arkade and Suraj Estate.Bengaluru-based Puravankara Ltd’s sales bookings rose to Rs 1,439 crore from Rs 1,124 crore, while Kalpataru Ltd’s increased to Rs 1,329 crore from Rs 1,249 crore. Max Estates’ pre-sales surged to Rs 1,093 crore from Rs 217 crore.Mahindra Lifespace Developers Ltd more than doubled sales bookings to Rs 925 crore from Rs 449 crore. Embassy Developments Ltd’s sales bookings jumped multi-fold to Rs 868 crore from Rs 198 crore.Sunteck Realty Ltd’s pre-sales rose to Rs 787 crore from Rs 657 crore, while Raymond Realty Ltd’s jumped over two-fold to Rs 700 crore from Rs 306 crore. Kolte-Patil Developers Ltd recorded pre-sales of Rs 617 crore, almost unchanged from Rs 616 crore.TARC Ltd’s pre-sales rose to Rs 602 crore from Rs 225 crore. Shriram Properties Ltd recorded Rs 484 crore against Rs 441 crore.Arvind SmartSpaces Ltd’s sales bookings rose to Rs 432 crore from Rs 175 crore, while Sri Lotus Developers Ltd’s jumped to Rs 409 crore from Rs 61 crore.Arihant Superstructures Ltd’s sales bookings increased to Rs 173.1 crore from Rs 150.6 crore, Arkade Developers Ltd’s to Rs 155.1 crore from Rs 142 crore, Ajmera Realty & Infrastructure Ltd’s pre-sales to Rs 146 crore from Rs 108 crore and Suraj Estate Developers Ltd’s sales bookings to Rs 141 crore from Rs 81 crore.
Nine firms report decline
Nine listed realty firms: DLF, Prestige, Oberoi Realty, Signature Global, Aditya Birla Real Estate, Brigade, Ashiana Housing and Eldeco, reported a decline in sales bookings.Brigade Enterprises Ltd’s sales bookings fell to Rs 1,061 crore from Rs 1,118 crore, while Oberoi Realty Ltd’s declined to Rs 1,049.88 crore from Rs 1,638.68 crore. Keystone Realtors Ltd’s sales bookings fell to Rs 617 crore from Rs 1,068 crore.Ashiana Housing Ltd, which focuses on senior living homes, reported pre-sales of Rs 358 crore against Rs 431 crore. Eldeco Housing & Industries Ltd’s pre-sales fell to Rs 105.7 crore from Rs 221.1 crore.Real estate consultants attributed the overall decline to no fresh launches by key companies, a high base effect and cautious sentiment among prospective homebuyers due to global economic uncertainties amid the Middle East conflict.They hoped sales numbers would revive from the second quarter onwards.Many listed players do not report sales booking numbers, which have become an important metric to evaluate operational performance. Revenue recognition of sales bookings is linked to completion of real estate projects. Unlisted developers generally do not report quarterly or annual sales bookings.
