×

Top Listed Realty Companies’ Home Bookings to Top Rs 1 Trillion

Torbit - March 18, 2024 - - 0 |

As homebuyers’ preference for big branded listed developers gain momentum, heady times are here for these developers clocking big bang bookings.

According to TrueBoard Partners , residential sales bookings by top listed companies are set to triple over FY 21 bookings, homing in on Rs 1 trillion. The top 11 listed developers including Brigade Enterprises, Oberoi Realty, DLF, Godrej Properties, Macrotech, Sobha, Prestige Estates, Sunteck Realty, Rustomjee and Signature Global , have already clocked cumulative sales bookings of Rs71766 crore in 9M FY24 against bookings of Rs 34010 crore in FY 21.

Significantly, listed developers have already surpassed the full-year FY23 sales bookings within the first three quarters of FY24.DLF is the front runner , registering bookings of Rs 13315 crore till December quarter. The company is expected to achieve full FY 24 sales of Rs 22363 crore. DLF is followed by Godrej Properties with sales bookings of Rs 13008 crore in the last quarter and is eyeing Rs 18728 crore of bookings in FY24.Prestige Estates hopes to achieve Rs 20000 crore of sales bookings against initial guidance of Rs 16000 crore of bookings for FY 24, clocking over 50 percent growth over last year’s sales bookings of Rs 12931 crore. Prestige Estates whose bookings have been growing at a CAGR of over 50 percent in the last three years, is targeting a CAGR of 20 percent in the near term., according to the company.

The end-users and investors-driven demand for projects by grade A developers has been responsible for an unprecedented surge in residential bookings by top listed developers. As a result of that, the market share of these companies has been consistently on rise. According to Anarock Research, out of 447000 residential units launched in top seven cities in 2023, more than 63 percent were by big branded developers and out of total sales of 477000 units ,their share stood at 60 percent.

The winning strategy of big branded listed developers revolves around right priced, right sized quality supply backed by timely delivery. According to TrueBoard Partners, going forward, with favourable macroeconomic factors like robust economic growth , increasing trend of homeownership , expected rate cut , the ongoing trend of large listed developers dominating the residential sales with bigger pie, will continue.

Leave a Reply

TRENDING

1

10 Home Building & Renovation Ideas

Mayank Shivam - April 20, 2024

2

3

4

Unveiling Soon: Torbit 2023

Torbit - March 13, 2024

5

Of Ladders and Snakes: A CEO’s Odyssey in Giga Projects

Khair Ull Nissa Sheikh - March 10, 2024

6

Tech Intervention Transforming Real Estate

Dileep PG - February 23, 2024

    Join our mailing list to keep up to date with breaking news