Godrej Properties, Prestige, DLF, Macrotech eye record residential sales in FY26
Bengaluru: India's four leading real estate developers—Godrej Properties, Prestige Estates, DLF, and Macrotech Developers—are collectively aiming to cross ₹ 1 trillion in residential sales in FY26, marking the strongest year yet for branded players.
In FY25, the four developers clocked combined sales of around ₹ 85,190 crore. Residential sales in the top seven cities saw a slight fall in 2024 compared with 2023, against hopes they would touch a new peak.
Rising home prices also slowed down sales in the January-March quarter. Sales dropped by 28% year-on-year to 93,280 units, and launches fell by 10% to 1,00,020 units during the March-ended quarter, as per Anarock Property Consultants data.
This ambitious push for record residential sales this year comes on the back of a robust pipeline of project launches, existing inventory, and a focus on premium projects that fetch higher margins.
Among the four realtors, Godrej Properties Ltd (GPL) has set the highest sales target of ₹ 32,500 crore this year. It sold 15,000 homes worth ₹ 29,444 crore last year, the highest ever by an Indian real estate firm.
While real estate analysts have pegged GPL's FY26 sales guidance as conservative and cautious, Godrej Properties executive chairperson Pirojsha Godrej said the company has set a reasonable target and is confident of achieving it.
'For the better brands and strong real estate players like us, there is good demand. If we can execute well, there is nothing stopping us from increasing market share, and there is a huge growth opportunity in all the markets,' Godrej said in an interview earlier.
Prestige Estates Projects Ltd, which fell short of its ₹ 20,000 crore target last year due to delays in project approvals, has set a higher goal of ₹ 27,000 crore for FY26.
The Bengaluru-based firm recorded ₹ 17,023 crore in bookings last year, a 19% year-on-year decline. However, it expects a sharp bounce-back, aided by a ₹ 42,000 crore launch pipeline and unsold inventory worth ₹ 20,000 crore.
'The good news is the first quarter of FY26 itself will see sales of almost ₹ 12,000 crore, so the rest of the year should comfortably meet the remaining sales target,' said Prestige chairman and managing director Irfan Razack.
DLF Ltd, the country's largest developer by market value, has guided for flat sales of ₹ 20,000-22,000 crore in FY26 after achieving ₹ 21,223 crore in FY25.
Analysts believe the Gurugram-based developer's guidance is conservative. 'This is conservative given the backdrop of strong sustenance sales at 'Dahlias' and because 80% of the new inventory planned for FY26 is likely to be released in Q1FY26, aiding a high take rate for the full year,' said Rahul Jain, equity research analyst- real estate at Elara Securities. 'Overall, DLF is confident of sustaining strong operating cash surplus, aided by quarterly residential collections.'
The DLF management in an analyst call on 20 May said that, along with good demand for luxury homes, it also has a strong launch pipeline of projects worth over ₹ 17,000 crore in the current fiscal year.
Macrotech 'Lodha' Developers has guided for ₹ 21,000 crore sales in FY26, on the back of strong demand from home buyers demand, higher footfall and better conversions and pricing. It recorded xxxx sales in FY25, up/down xx% year-on-year.
The Mumbai-based developer is viewed as a key beneficiary of industry consolidation, led by strong execution, key performance indicators and large-scale operations, an Elara Securities report said.
While residential sales are expected to plateau this year, large, branded developers continue to clock strong sales and look set to tighten their grip on the market.
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