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TrueNorth Capital

24th Aug 2025 · SEBI-Registered Analyst

Indian Real Estate Sees Robust Q1 FY26 Sales

India's listed real estate developers have reported a strong collective performance, with pre-sales totaling nearly ₹53,000 crore in the April-June quarter of FY26. This surge is driven by sustained demand for residential properties, particularly in the luxury and premium segments, as homebuyers favor established, branded players. → Top Performers and Market Concentration:

PRESTIGE
emerged as the top seller, with record pre-sales of ₹12,126.4 crore.
DLF
Ltd followed closely with sales of ₹11,425 crore, largely from luxury homes.
GODREJPROP
secured the third spot with ₹7,082 crore in bookings. The top five developers—Prestige, DLF, Godrej,
LODHA
, and Signature Global—accounted for a significant 71% of the total sales bookings of the 28 listed real estate firms. → Mid-Tier Players Show Strength: Beyond the top players, several mid-sized and regional developers also posted robust sales figures. Notable companies in the ₹1,000 to ₹2,000 crore range included
SOBHA
, Omaxe,
OBEROIRLTY
, and Kalpataru. Several others, such as
SUNTECK
,
KOLTEPATIL
, and
MAHLIFE
, reported sales ranging from ₹400 crore to ₹700 crore. → Market Dynamics and Outlook: The residential sector remains the primary driver of demand, with buyers prioritizing large, reputable developers post-pandemic to mitigate risks of project delays. Analysts note a structural shift in the market, with branded developers becoming the main beneficiaries of both strong volume and value-driven demand. Prestige Estates' strong start to the fiscal year positions it as a major contender against DLF and Godrej Properties for the top spot in annual sales rankings. While pre-sales are strong, the actual revenue recognition will be gradual, as it is tied to project completion milestones.

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