18 listed builders book properties worth Rs 1.17 lakh cr in FY24, 33% up from FY23

That the real estate market, especially the premium segment is on fire, has been reported from time to time recently. And figures obtained from 18 listed prominent realty companies of the country show that they have sold properties worth Rs 1,16,635 crore in FY24 which is 33% higher than the Rs 88,000 crore they cumulatively achieved in FY23. Dwelling units constitute a major part of the figure booked in FY24.
Almost all the firms have recorded higher sales compared to what they did the year before.
Significantly, realty firms which are unlisted such as Hiranandani Group, Tata Realty & Infrastructure, K Raheja Group, Adani Realty, Piramal Realty and Embassy Group are not included in this list. They are not required to report figures every three months.
According to reports, the biggest sales were recorded by Godrej Properties which sold Rs 22,527 worth of property. These figures far above other firms.

DLF, India’s largest firm by market capitalisation, managed to record bookings of Rs 14,778 crore in the last fiscal year while Mumbai’s Macrotech Developers clocked sales of Rs 14,520 crore.
Next in the pecking order comes Gurugram’s Signature Global and Bengaluru-based companies Sobha Ltd, Brigade Enterprises and Puravankara Ltd. Signature Global was listed just a year earlier and clocked bookings of Rs 7,270 crore – more than double of what it achieved in FY23.

Sobha Ltd managed to book properties worth Rs 6,644 crore and Brigade Enterprises came close with Rs 6,013 crore. Purvankara’s bookings fell a shade under Rs 6,000 crore with bookings of Rs 5,914 crore.

Oberoi Realty, a realty player in the premium sector and based in Mumbai, managed to sell dwelling units worth ₹4,007 crore in last fiscal.

The next three companies in the pecking order, Kolte-Patil and Mahindra Lifespace Developers Ltd and Keystone Realtors (Rustomjee) are based in Maharashtra. Pune’s
Kolte-Patil recorded sales of Rs 2,822 crore, while Mumbai-based Mahindra Lifespace Developers and Keystone Realtors (Rustomjee) clocked sales bookings of Rs 2,328 crore and Rs 2,266 crore, respectively.

All the other companies could manage sales of less than Rs 2,000 crore.
Maharashtra’s Sunteck Realty (based in Mumbai) and NCR’s Ashiana Housing managed to hit booking figures of Rs 1,915 crore and Rs 1,798 crore in FY23.

Arvind Smartspaces, a firm located in Ahmedabad recorded sales of Rs 1,107 crore. The next is the list Ajmera Realty & Infrastructure is another firm based in the commercial capital of the country. Ajmera reported bookings of Rs 1,017 crore.

The rest of the players reported sales far below Rs 1,000 crore. Lucknow’s Eldeco Housing & Industries managed to sell properties worth Rs 388 crore while Mumbai-based Indiabulls Real Estate came next with Rs 280 crore.

“Listed real estate firms in India have excelled due to strong brand recognition, diversified portfolios, and superior access to capital. These elements collectively contribute to their outstanding sales performance, giving them an edge over smaller or non-listed peers,” said Dhruv Agarwal, CEO of Housing.com and PropTiger.

After the crippling pandemic, the Indian housing market has bounced back spectacularly on the release of pent-up demand and a desire to have working space included inside a dwelling unit.
Consumer demand for branded and reputed players has become an established trend as homebuyers are scared of getting stuck in non-delivery of real estate projects after making payments. Major real estate developers such as Unitech and Jaypee Infratech been unable to deliver apartments to thousands of buyers who have made hefty payments years ago.
Homebuyers of Amrapali Group are getting possession of their property only after Supreme Court directives.