+
Listed realty firms sell properties worth Rs 1.17 lakh crore in FY24
Real Estate

Listed realty firms sell properties worth Rs 1.17 lakh crore in FY24

During the last fiscal year, properties worth Rs 1.17 trillion were sold by eighteen major listed real estate developers. It was observed that Godrej Properties emerged as the largest player, posting Rs 225.27 billion in sales bookings. It was noted that most major developers had experienced higher sales bookings in 2023-24 compared to the previous financial year.

The increase in sales was largely attributed to strong demand for residential properties, particularly luxury homes, across major cities. Many developers recorded record pre-sales during the 2023-24 fiscal year, benefiting from a surge in consumer demand.

According to data compiled from regulatory filings, eighteen major listed realty firms reported combined sales bookings of about Rs 1.16 trillion in the 2023-24 fiscal, marking a 33 percent increase from nearly Rs 880 billion in the preceding year.

It was observed that the bulk of pre-sales in the combined bookings of nearly Rs 1.17 trillion came from the residential segment. Industry experts linked this surge in sales bookings among major listed players to robust housing demand post-COVID pandemic and a preference for companies with better track records in project execution.

In terms of sales bookings, Godrej Properties emerged as the largest listed player in the 2023-24 fiscal, with pre-sales of Rs 225.27 billion. Following closely, Prestige Estates Projects, headquartered in Bengaluru, achieved sales bookings of Rs 210.40 billion, making it the second-largest listed player.

DLF, the country's largest realty firm in terms of market capitalisation, reported sales bookings of Rs 147.78 billion in the last fiscal year. Macrotech Developers, based in Mumbai and selling properties under the 'Lodha' brand, recorded pre-sales of Rs 145.20 billion.

Signature Global, based in Gurugram and listed just last year, performed exceptionally well, achieving sales bookings of Rs 72.70 billion last fiscal, more than double from the preceding year. Bengaluru-based firms Sobha and Brigade Enterprises sold properties worth Rs 66.44 billion and Rs 60.13 billion, respectively.

Puravankara, another Bengaluru-based realty company, achieved sales bookings of Rs 59.14 billion. Oberoi Realty, based in Mumbai and focusing on the luxury segment, sold properties worth Rs 40.07 billion last fiscal. Pune-based Kolte-Patil recorded sales bookings of Rs 28.22 billion.

Mumbai's Mahindra Lifespace Developers and Keystone Realtors (Rustomjee) achieved sales bookings of Rs 23.28 billion and Rs 22.66 billion, respectively. Sunteck Realty, headquartered in Mumbai, reported sales worth Rs 19.15 billion.

Ashiana Housing, based in the national capital, achieved sales bookings of Rs 17.98 billion. Arvind Smartspaces, headquartered in Ahmedabad, reported sales of Rs 11.07 billion, while Ajmera Realty & Infrastructure, headquartered in Mumbai, recorded pre-sales of Rs 10.17 billion.

Eldeco Housing & Industries, based in Lucknow, sold properties worth Rs 3.88 billion, while Indiabulls Real Estate, headquartered in Mumbai, achieved sales of Rs 2.80 billion.

During the last fiscal year, properties worth Rs 1.17 trillion were sold by eighteen major listed real estate developers. It was observed that Godrej Properties emerged as the largest player, posting Rs 225.27 billion in sales bookings. It was noted that most major developers had experienced higher sales bookings in 2023-24 compared to the previous financial year. The increase in sales was largely attributed to strong demand for residential properties, particularly luxury homes, across major cities. Many developers recorded record pre-sales during the 2023-24 fiscal year, benefiting from a surge in consumer demand. According to data compiled from regulatory filings, eighteen major listed realty firms reported combined sales bookings of about Rs 1.16 trillion in the 2023-24 fiscal, marking a 33 percent increase from nearly Rs 880 billion in the preceding year. It was observed that the bulk of pre-sales in the combined bookings of nearly Rs 1.17 trillion came from the residential segment. Industry experts linked this surge in sales bookings among major listed players to robust housing demand post-COVID pandemic and a preference for companies with better track records in project execution. In terms of sales bookings, Godrej Properties emerged as the largest listed player in the 2023-24 fiscal, with pre-sales of Rs 225.27 billion. Following closely, Prestige Estates Projects, headquartered in Bengaluru, achieved sales bookings of Rs 210.40 billion, making it the second-largest listed player. DLF, the country's largest realty firm in terms of market capitalisation, reported sales bookings of Rs 147.78 billion in the last fiscal year. Macrotech Developers, based in Mumbai and selling properties under the 'Lodha' brand, recorded pre-sales of Rs 145.20 billion. Signature Global, based in Gurugram and listed just last year, performed exceptionally well, achieving sales bookings of Rs 72.70 billion last fiscal, more than double from the preceding year. Bengaluru-based firms Sobha and Brigade Enterprises sold properties worth Rs 66.44 billion and Rs 60.13 billion, respectively. Puravankara, another Bengaluru-based realty company, achieved sales bookings of Rs 59.14 billion. Oberoi Realty, based in Mumbai and focusing on the luxury segment, sold properties worth Rs 40.07 billion last fiscal. Pune-based Kolte-Patil recorded sales bookings of Rs 28.22 billion. Mumbai's Mahindra Lifespace Developers and Keystone Realtors (Rustomjee) achieved sales bookings of Rs 23.28 billion and Rs 22.66 billion, respectively. Sunteck Realty, headquartered in Mumbai, reported sales worth Rs 19.15 billion. Ashiana Housing, based in the national capital, achieved sales bookings of Rs 17.98 billion. Arvind Smartspaces, headquartered in Ahmedabad, reported sales of Rs 11.07 billion, while Ajmera Realty & Infrastructure, headquartered in Mumbai, recorded pre-sales of Rs 10.17 billion. Eldeco Housing & Industries, based in Lucknow, sold properties worth Rs 3.88 billion, while Indiabulls Real Estate, headquartered in Mumbai, achieved sales of Rs 2.80 billion.

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Next Story
Infrastructure Energy

SC Allows State Tax on Mines, Minerals

Opposition leaders have welcomed the Supreme Court's recent decision permitting states to levy taxes on mines and mineral-bearing lands, as reported. The ruling is seen as a significant victory for state governments seeking greater control and revenue from natural resource extraction within their jurisdictions. The Supreme Court?s decision empowers states to impose taxes on mining operations and mineral-rich lands, which could enhance their revenue streams and enable better management of local resources. This move is particularly important for states with substantial mineral resources, as it a..

Talk to us?