Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.

Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.

Dr Prashant Thakur, Executive Director and Head - Research & Advisory, ANAROCK Group, said at least 10 of the 11 listed developers analysed are expected to record positive pre-sales growth in FY27. Only one developer is projected to see a marginal decline, primarily due to a high base.

Among the developers analysed, Oberoi Realty is expected to record the highest growth, with pre-sales projected to rise 141 per cent to Rs 130 billion in FY27 from Rs 54 billion in FY26. Puravankara's pre-sales are estimated to increase 51 per cent to Rs 112 billion, while Mahindra's are projected to grow 41 per cent to Rs 48 billion.

Sobha is expected to post 31 per cent growth to Rs 106 billion, while Rustomjee's pre-sales are projected to increase 25 per cent to Rs 50 billion. Brigade and Signature Global are each expected to register growth of 22 per cent.

Godrej Properties' pre-sales are estimated at Rs 390 billion in FY27, up 14 per cent, while Prestige is projected to record Rs 353 billion, an increase of 18 per cent. Lodha's pre-sales are expected to rise 17 per cent to Rs 240 billion. DLF is estimated to record pre-sales of Rs 200 billion, broadly stable compared with Rs 201 billion in FY26.

ANAROCK said buyers are increasingly favouring established developers with strong execution records, timely deliveries and financial transparency, helping listed and Grade A players increase their market share.

The analysis also highlighted a comfortable inventory position across most leading developers. Based on FY27 estimates, the inventory-to-annual bookings ratio ranges from 0.07x to 2.70x, with most players holding inventory equivalent to less than 1.5 years of annual bookings.

According to ANAROCK, booking values continue to remain strong even as unit sales growth moderates, supported by higher average selling prices, larger apartment sizes and sustained demand for premium housing.

The share of listed and Grade A developers in new residential launches also increased across most major markets between FY26 and Q1 FY27. Their share rose from 66 per cent to 70 per cent in NCR, 53 per cent to 57 per cent in Bengaluru and 36 per cent to 39 per cent in Hyderabad.

In Chennai, the share increased from 58 per cent to 60 per cent, while Pune rose from 45 per cent to 46 per cent and Kolkata from 41 per cent to 43 per cent. In the Mumbai Metropolitan Region, their share increased from 24 per cent in FY26 to 26 per cent in Q1 FY27.

ANAROCK also noted that aggregate net debt across a broader set of listed developers remained largely stable in FY26, even as combined pre-sales grew by around 18 per cent. This indicates that much of the growth was funded through internal accruals and operating cash flows rather than additional borrowings.

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head - Research & Advisory, ANAROCK Group, said at least 10 of the 11 listed developers analysed are expected to record positive pre-sales growth in FY27. Only one developer is projected to see a marginal decline, primarily due to a high base.Among the developers analysed, Oberoi Realty is expected to record the highest growth, with pre-sales projected to rise 141 per cent to Rs 130 billion in FY27 from Rs 54 billion in FY26. Puravankara's pre-sales are estimated to increase 51 per cent to Rs 112 billion, while Mahindra's are projected to grow 41 per cent to Rs 48 billion.Sobha is expected to post 31 per cent growth to Rs 106 billion, while Rustomjee's pre-sales are projected to increase 25 per cent to Rs 50 billion. Brigade and Signature Global are each expected to register growth of 22 per cent.Godrej Properties' pre-sales are estimated at Rs 390 billion in FY27, up 14 per cent, while Prestige is projected to record Rs 353 billion, an increase of 18 per cent. Lodha's pre-sales are expected to rise 17 per cent to Rs 240 billion. DLF is estimated to record pre-sales of Rs 200 billion, broadly stable compared with Rs 201 billion in FY26.ANAROCK said buyers are increasingly favouring established developers with strong execution records, timely deliveries and financial transparency, helping listed and Grade A players increase their market share.The analysis also highlighted a comfortable inventory position across most leading developers. Based on FY27 estimates, the inventory-to-annual bookings ratio ranges from 0.07x to 2.70x, with most players holding inventory equivalent to less than 1.5 years of annual bookings.According to ANAROCK, booking values continue to remain strong even as unit sales growth moderates, supported by higher average selling prices, larger apartment sizes and sustained demand for premium housing.The share of listed and Grade A developers in new residential launches also increased across most major markets between FY26 and Q1 FY27. Their share rose from 66 per cent to 70 per cent in NCR, 53 per cent to 57 per cent in Bengaluru and 36 per cent to 39 per cent in Hyderabad.In Chennai, the share increased from 58 per cent to 60 per cent, while Pune rose from 45 per cent to 46 per cent and Kolkata from 41 per cent to 43 per cent. In the Mumbai Metropolitan Region, their share increased from 24 per cent in FY26 to 26 per cent in Q1 FY27.ANAROCK also noted that aggregate net debt across a broader set of listed developers remained largely stable in FY26, even as combined pre-sales grew by around 18 per cent. This indicates that much of the growth was funded through internal accruals and operating cash flows rather than additional borrowings.

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