Big realty guns target Rs 1.82 lakh cr in FY27 sales

India's top residential developers are projected to achieve combined pre-sales of Rs 1.82 lakh crore in FY27, marking a 22.3% increase from Rs 1.49 lakh crore in FY26. ANAROCK Research analyzed investor presentations of 11 listed developers and found that 10 are expected to report pre-sales growth in FY27, with one developer seeing a marginal decline due to a high base.

Most of these developers anticipate a growth of more than 20% in pre-sales. Oberoi Realty is expected to lead with a projected 141% increase to Rs 13,000 crore, while Puravankara and Mahindra Lifespaces are also expected to record significant growth. DLF is the only developer expected to see a marginal decline, with pre-sales estimated at Rs 20,000 crore.

The inventory-to-annual bookings ratio for these developers ranges from 0.07x to 2.70x, indicating a healthy level of inventory. The residential demand composition is evolving, with booking values remaining strong due to rising average selling prices and larger apartment sizes. Balance sheets have remained comfortable, with aggregate net debt stable despite growing pre-sales.

Listed and Grade A developers are gaining share in new launches across major housing markets, with their share increasing from 66% to 70% in NCR and 41% to 43% in Kolkata. This projected growth indicates strong confidence among homebuyers and lenders in financially strong, transparent developers.