Realty Firms Sales Bookings Fall 21% To ₹40,000 Crore, Godrej Properties Tops June Quarter Chart
New Delhi: Sales bookings of 28 major listed real estate companies fell 21% to ₹39,964 crore in the April-June quarter of FY27, compared with ₹50,900 crore a year earlier. Lower sales volumes, fewer project launches by some large developers and cautious homebuyer sentiment amid global economic uncertainty weighed on the sector. Housing continued to account for the bulk of bookings. Godrej…
In the April-June quarter of the current fiscal year, sales bookings for 28 major listed real estate companies dropped by 21%, with the total amount falling to ₹39,964 crore compared to ₹50,900 crore in the same period last year. Factors contributing to the decline included reduced sales volumes, fewer project launches by some large developers, and cautious buying behavior from homebuyers due to global economic uncertainty.
Housing remained the primary driver of bookings, with Godrej Properties emerging as the leading listed developer in terms of sales. The company's pre-sales rose to ₹8,651 crore from ₹7,082 crore in the previous quarter. Prestige Estates Projects placed second, although its bookings experienced a significant decline, falling from ₹12,126.4 crore to ₹6,579.3 crore.
Lodha Developers reported bookings of ₹4,630 crore, which was an improvement from ₹4,450 crore in the prior quarter. Sobha showcased a strong increase, with bookings reaching ₹3,656 crore from ₹2,079 crore.
Signature Global experienced a notable drop in bookings, falling to ₹1,970 crore from ₹2,640 crore. DLF also witnessed a steep decline, with sales bookings decreasing to ₹657 crore from ₹11,425 crore in the previous year, as the company did not launch any projects during the quarter. In contrast, Navi Mumbai Real Estate announced that the CIDCO would launch 4,779 EWS homes in Taloja, Kalamboli, and Kharghar, with online registration opening on August 15.
Several developers managed to post strong growth in pre-sales. Max Estates saw bookings surge to ₹1,093 crore from ₹217 crore, while Mahindra Lifespace more than doubled its pre-sales to ₹925 crore. In Mumbai, the ex-promoter family of Zandu Pharmaceuticals acquired a ₹110.41 crore luxury apartment in Worli, and Raymond Realty reported a more than doubling of its sales to ₹700 crore. TARC's bookings jumped to ₹602 crore from ₹225 crore, and Arvind SmartSpaces increased sales to ₹432 crore from ₹175 crore.
The overall decline in sales momentum is attributed to fewer project launches, a high year-ago base, and cautious buying behavior driven by global uncertainties. Industry consultants anticipate that sales momentum will improve in the second quarter.
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