India’s real estate sector has witnessed a remarkable surge in sales during the July-September quarter, with 26 of the country’s major listed realty firms recording an impressive Rs 34,985 crore worth of property bookings. Led by industry giant Godrej Properties, which reported Rs 5,198 crore in pre-sales, the sector has experienced significant growth, driven by both pent-up demand and a growing desire for homeownership in a post-pandemic economy.
While the overall sales performance was strong, individual firms reported varied results, with Mumbai-based Macrotech Developers Ltd, which operates under the Lodha brand, posting Rs 4,290 crore in sales bookings. Other top performers included Max Estates from Delhi-NCR with Rs 4,100 crore, Bengaluru’s Prestige Estates Projects Ltd with Rs 4,022.6 crore, and Signature Global, also from Delhi-NCR, which achieved Rs 2,780 crore in sales during the quarter. Despite the overall positive trend, some firms reported significant declines in their sales figures, notably DLF Ltd, India’s largest listed real estate player in terms of market capitalization. DLF’s sales bookings fell sharply to Rs 692 crore from Rs 6,404 crore in the previous quarter, largely attributed to the lack of new project launches, as well as the impact of the monsoon season and the inauspicious Shraadh period.
The report reveals a shift in consumer preferences towards well-established developers capable of timely project delivery, especially after Covid-19 disruptions. Buyers are wary of uncertain timelines, driven by legal issues with non-reputed developers like Unitech and Jaypee Infratech in Delhi-NCR. The quarter saw promising sales from mid-sized players like Brigade Enterprises (Rs 1,821 crore) and Oberoi Realty (Rs 1,442 crore), while smaller developers such as Kolte-Patil Developers (Rs 770 crore) and Keystone Realtors (Rs 700 crore) also posted strong numbers. Rising housing prices and increasing homeownership aspirations fuel demand, positioning the residential market for sustained recovery.
However, the overall performance remains mixed, with some developers struggling due to delays in project approvals and an increasingly competitive market. Yet, branded players — both listed and unlisted — continue to dominate, benefiting from their strong execution capabilities and established trust with buyers. Looking ahead, the real estate market is likely to see continued momentum as India’s housing sector adapts to changing buyer needs and market conditions. The key for developers will be to maintain trust, deliver quality, and meet the growing demand for sustainable and timely housing solutions. As the residential real estate segment continues to evolve, the future of the sector will depend on how developers navigate these challenges, with consumer trust being the most critical factor in maintaining a competitive edge in the market.
