Godrej Properties tops among 21 realty cos with Q1 sales worth Rs 35k cr | Company News

In terms of sale bookings, Godrej Properties emerged as the largest listed player in the June quarter with pre-sales of Rs 8,637 crore.

DLF Ltd, the country’s largest realty firm in terms of market capitalisation, reported more than three-fold jump in its sale bookings at Rs 6,404 crore in the first quarter of this fiscal.

Mumbai-based Macrotech Developers, which sells properties under ‘Lodha’ brand, clocked pre-sales of Rs 4,030 crore.

Gurugram-based Signature Global, which recently got listed, achieved sale bookings of Rs 3,120 crore in June quarter, more than three times from the year-ago period.

Bengaluru-based Prestige Estates Projects clocked sale bookings of Rs 3,029.5 crore in June quarter, down from the corresponding period of the previous year.

Bengaluru-based firms Sobha Ltd and Brigade Enterprises sold properties worth Rs 1,874 crore and Rs 1,086 crore, respectively, during the April-June period of this fiscal.

Bengaluru-based Puravankara Ltd achieved sale bookings of Rs 1,128 crore, almost flat compared to the year-ago period.

Mumbai-based Oberoi Realty, which is into luxury housing segment, sold properties worth Rs 1,067 crore last fiscal.

Mumbai-based builders Mahindra Lifespace Developers Ltd and Keystone Realtors (Rustomjee) clocked sale bookings of Rs 1,019 crore and Rs 611 crore, respectively.

Pune-based Kolte-Patil sold properties worth Rs 711 crore while Mumbai-based Sunteck Realty sold properties worth Rs 502 crore.

Bengaluru-based Shriram Properties achieved sale bookings of Rs 376 crore.

Delhi-based TARC Ltd and Ashiana Housing achieved sale bookings of Rs 310 crore and Rs 235 crore, respectively.

Ahmedabad-based Arvind Smartspaces Ltd sold properties worth Rs 201 crore, while Mumbai-based Ajmera Realty & Infrastructure Ltd reported pre-sales of Rs 306 crore.

Lucknow-based Eldeco Housing & Industries Ltd sold properties worth Rs 59 crore while Mumbai-based Equinox India Developments Ltd (earlier Indiabulls Real Estate Ltd) achieved pre-sales of Rs 82 crore.

Mumbai-based Suraj Estate Developers Ltd has reported a sale bookings of Rs 140 crore in the first quarter of this fiscal year.

Sale bookings data of many listed players was not available.

Industry experts attribute this increase in sale bookings of major listed players to strong housing demand after the Covid pandemic.

Housing market is also witnessing a shift in consumer demand towards those realty companies and brands which have better track record of executing real estate projects.

Real estate developers, which are not listed on stock exchanges, generally do not report their quarterly and annual sale bookings.

Tata Realty & Infrastructure Ltd, Adani Realty, Piramal Realty, Hiranandani Group, Embassy Group and K Raheja Group are major players in unlisted space.

Post-COVID pandemic, Indian real estate market, especially housing segment, has bounced back sharply on pent up demand and growing desire to have home ownership.

Branded and reputed players, including listed and unlisted ones, have benefited most in this revival cycle as homebuyers do not want to take risk of getting stuck in real estate projects after making payments.

Thousands of buyers are still stuck in housing projects of builders like Unitech and Jaypee Infratech Ltd which defaulted in delivering projects.

Homebuyers of Amrapali Group are getting possession of their flats after intervention from the Supreme Court.

Suraksha Group has won a bid to acquire Jaypee Infratech Ltd (JIL) through insolvency process. The Group has infused capital and is awarding construction contracts to complete around 20,000 unfinished flats in Delhi-NCR.

Thousands of buyers of many NCR-based builders such as Unitech, Ansal API, Supertech Ajanara, The 3C Group, and Today Homes are stuck and fighting legal cases in real estate regulatory authorities at state level, tribunals and courts.

First Published: Sep 01 2024 | 10:46 PM IST