18 top builders sell Rs 1.17T properties in FY24

03 Jun 2024 CW Team

During the last fiscal year, properties worth Rs 1.17 trillion were sold by eighteen major listed real estate developers. Godrej Properties emerged as the largest player with sales bookings amounting to Rs 225.27 billion.

It was noted that, except for a few realty players, all major developers had achieved higher sales bookings in 2023-24 compared to the preceding financial year. This surge was primarily attributed to strong demand for residential properties, particularly luxury homes, across major cities. Record pre-sales were achieved by many developers during the fiscal year, driven by an increase in consumer demand.

Data compiled from regulatory filings revealed that eighteen major listed realty firms reported combined sales bookings of about Rs 1.16 trillion in the 2023-24 fiscal, marking a 33 per cent increase from nearly Rs 880 billion in the preceding year. The majority of these pre-sales came from the residential segment.

Godrej Properties emerged as the largest listed player in the 2023-24 fiscal with pre-sales of Rs 225.27 billion, followed by Prestige Estates Projects, based in Bengaluru, with sales bookings of Rs 210.40 billion. DLF, the country's largest realty firm in terms of market capitalisation, achieved sales bookings of Rs 147.78 billion, while Mumbai-based Macrotech Developers, selling properties under the 'Lodha' brand, clocked pre-sales of Rs 145.20 billion.

Gurugram-based Signature Global, listed the previous year, performed exceptionally well, achieving sales bookings of Rs 72.70 billion, more than double from the preceding fiscal. Bengaluru-based firms Sobha and Brigade Enterprises sold properties worth Rs 66.44 billion and Rs 60.13 billion, respectively, during the last fiscal. Another Bengaluru-based realty company, Puravankara, achieved sales bookings of Rs 59.14 billion, closely following suit.

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