Sales of listed developers increased amid Covid-19: Anarock

25 May 2021 CW Team

According to Anarock, during the pandemic, the top eight publicly traded real estate players' overall housing sales share has increased.

As per the most recent Anarock data, the top eight listed players accounted for 22% of total sales of around 93,140 units in the first nine months of FY21 across the top seven cities, while non-listed leading players accounted for 18%. Non-branded developers accounted for 60% of the share.

In contrast, of the total 2.03 lakh units sold in the top seven cities in FY17, the top eight listed players had the smallest share at around 6%, while non-listed leading players had an 11% share and others (non-branded) had an 83% share.

The increased market share of these top eight listed players over time provides a clear roadmap of home buyers' changing preferences.

Godrej Properties, Brigade Enterprises, Oberoi Realty, Kolte-Patil, Mahindra Lifespaces, Prestige Estates, Puravankara, and Sobha are the top eight developers under consideration.

Despite the first wave of Covid-19, the top listed players sold a total of 21.23 million sq ft in the first three quarters of the fiscal year 2021, up 2% from the corresponding period in FY20, when 20.88 million sq ft were sold.

Godrej Properties sold the most area (around 6.64 million sq ft) among the listed players during this period, followed by Bengaluru-based Prestige Estates with around 5.04 million sq ft.

During the pandemic, when housing demand increased significantly, this demand-supply equilibrium helped keep the sales momentum going, said Anarock.

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Also read: Real estate biggies recovering much faster: ICRA

Also read: Affordable housing keeps real estate sector afloat: PropTiger

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