Listed players quarterly housing sales value up 5 per cent

While overall housing sales in India recorded a decline in Q2 FY2020, the housing sales value of India’s top 9 listed developers stayed on course during the quarter. On a quarterly basis, their housing sales value rose by a very respectable 5 per cent – from approximately Rs 52.5 billion in Q1 FY2020 to nearly Rs 55.2 billion in Q2 FY2020.

On yearly basis, the figures are a bit more sombre – these listed developers collectively saw their housing sales value rise by 2 per cent from Rs 53.9 billion in Q2 FY2019. Nevertheless, growth of any kind stands out in a market which had been facing headwinds for so long.

Going by the overall area-wise absorption data available as on date, the top eight listed developers collectively notched up a 5 per cent annual increase. Available data indicates that their area-wise sales rose to 7.25 million sq ft in Q2 FY2020 from 6.9 million sq ft in Q2 FY2019.

On a quarterly basis, these real estate majors saw a 9 per cent gain in overall housing absorption. In the previous quarter of Q1 FY2020, the overall absorption recorded by eight listed developers alone was nearly 6.64 million sq ft.

Anuj Puri, Chairman, Anarock Property Consultants, says, “We are clearly seeing the emergence of strong, organised players whose strengths are amplified, rather than diminished, by the newly regulated market environment. Even the most conservative industry estimates indicate a staggering number of developers in the top cities who have been either wiped off the map, or have merged with organised developers after DeMo and RERA.”