Realty firms record Rs 350 billion in sales in Q1 FY25
Real Estate

Realty firms record Rs 350 billion in sales in Q1 FY25

In the April-June quarter of the fiscal year 2024-25, India's leading listed real estate developers collectively sold properties worth approximately Rs 350 billion, driven by strong demand, particularly in the luxury housing segment post-COVID-19. Godrej Properties topped the list, followed by DLF.

According to data from regulatory filings, 21 major listed realty firms in India reported combined sales bookings of around Rs 349.27 billion during Q1 FY25, with the bulk of these bookings coming from residential properties.

The surge in sales was largely attributed to increased consumer demand for residential properties, especially in the luxury sector. Most of the major listed developers, with a few exceptions, saw year-on-year growth in sales bookings during this period.

Mumbai-based Godrej Properties led the market with pre-sales of Rs 86.37 billion in the first quarter, while Delhi NCR-based DLF Ltd recorded a more than three-fold increase in sales bookings, reaching Rs 64.04 billion.

Bengaluru-based Prestige Estates Projects reported sales bookings of Rs 30.29 billion, although this was lower compared to the same period last year. Other notable figures include Sobha Ltd and Brigade Enterprises, which reported sales of Rs 18.74 billion and Rs 10.86 billion, respectively, during Q1 FY25.

Mumbai's Macrotech Developers, known for its 'Lodha' brand, sold properties worth Rs 40.30 billion, while Gurugram-based Signature Global, which went public in September 2023, recorded sales bookings of Rs 31.20 billion.

Other significant contributions came from Mahindra Lifespace Developers Ltd (Rs 10.19 billion), Keystone Realtors (Rustomjee) (Rs 6.11 billion), Puravankara Ltd (Rs 11.28 billion), and Oberoi Realty (Rs 10.67 billion).

Pune-based Kolte-Patil Developers reported sales of Rs 7.11 billion, while Mumbai's Sunteck Realty achieved Rs 5.02 billion in bookings. Bengaluru?s Shriram Properties saw bookings of Rs 3.76 billion.

Delhi-based TARC Ltd reported Rs 3.10 billion in sales bookings, and Ashiana Housing recorded Rs 2.35 billion. Meanwhile, Lucknow?s Eldeco Housing & Industries Ltd sold properties worth Rs 590 million, and Mumbai's Equinox India Developments Ltd (formerly Indiabulls Real Estate Ltd) achieved pre-sales of Rs 820 million.

Other players like Suraj Estate Developers Ltd (Rs .140 billion), Ahmedabad-based Arvind Smartspaces Ltd (Rs 2.01 billion), and Mumbai's Ajmera Realty & Infrastructure Ltd (Rs 3.06 billion) also contributed to the total.

Industry experts attribute this surge in sales bookings to the robust demand for housing, particularly in the luxury segment, following the pandemic.

(Moneycontrol)

In the April-June quarter of the fiscal year 2024-25, India's leading listed real estate developers collectively sold properties worth approximately Rs 350 billion, driven by strong demand, particularly in the luxury housing segment post-COVID-19. Godrej Properties topped the list, followed by DLF. According to data from regulatory filings, 21 major listed realty firms in India reported combined sales bookings of around Rs 349.27 billion during Q1 FY25, with the bulk of these bookings coming from residential properties. The surge in sales was largely attributed to increased consumer demand for residential properties, especially in the luxury sector. Most of the major listed developers, with a few exceptions, saw year-on-year growth in sales bookings during this period. Mumbai-based Godrej Properties led the market with pre-sales of Rs 86.37 billion in the first quarter, while Delhi NCR-based DLF Ltd recorded a more than three-fold increase in sales bookings, reaching Rs 64.04 billion. Bengaluru-based Prestige Estates Projects reported sales bookings of Rs 30.29 billion, although this was lower compared to the same period last year. Other notable figures include Sobha Ltd and Brigade Enterprises, which reported sales of Rs 18.74 billion and Rs 10.86 billion, respectively, during Q1 FY25. Mumbai's Macrotech Developers, known for its 'Lodha' brand, sold properties worth Rs 40.30 billion, while Gurugram-based Signature Global, which went public in September 2023, recorded sales bookings of Rs 31.20 billion. Other significant contributions came from Mahindra Lifespace Developers Ltd (Rs 10.19 billion), Keystone Realtors (Rustomjee) (Rs 6.11 billion), Puravankara Ltd (Rs 11.28 billion), and Oberoi Realty (Rs 10.67 billion). Pune-based Kolte-Patil Developers reported sales of Rs 7.11 billion, while Mumbai's Sunteck Realty achieved Rs 5.02 billion in bookings. Bengaluru?s Shriram Properties saw bookings of Rs 3.76 billion. Delhi-based TARC Ltd reported Rs 3.10 billion in sales bookings, and Ashiana Housing recorded Rs 2.35 billion. Meanwhile, Lucknow?s Eldeco Housing & Industries Ltd sold properties worth Rs 590 million, and Mumbai's Equinox India Developments Ltd (formerly Indiabulls Real Estate Ltd) achieved pre-sales of Rs 820 million. Other players like Suraj Estate Developers Ltd (Rs .140 billion), Ahmedabad-based Arvind Smartspaces Ltd (Rs 2.01 billion), and Mumbai's Ajmera Realty & Infrastructure Ltd (Rs 3.06 billion) also contributed to the total. Industry experts attribute this surge in sales bookings to the robust demand for housing, particularly in the luxury segment, following the pandemic. (Moneycontrol)

Next Story
Infrastructure Urban

Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn

Realty firm Macrotech Developers has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 3.07 billion as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand. In a regulatory filing, the company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital I..

Next Story
Infrastructure Urban

Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep

Tata Steel reported a net profit of Rs 7.58 billion for the September 2024 quarter, helped by lower expenses. It had posted a net loss of Rs 65.11 billion in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. In a separate statement, Tata Steel CEO and MD TV Narendran said the global operating environment remained complex, with key regions facing subdued growth. Macroeconomic conditions in China continued to weigh on commodity prices, including steel. In India, steel demand continued to improve, but domestic prices were under pressure due to chea..

Next Story
Infrastructure Urban

SC to verdict on Nov 7 on plea against NCLAT

The Supreme Court is scheduled to pronounce its verdict on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra will pronounce the verdict which was reserved on October 16. The NCLAT had on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownersh..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000