Indian listed developers see 21% drop in housing sales bookings this quarter
Sales bookings for 28 listed real estate firms fell 21% year-on-year to about Rs 40,000 crore, reflecting weaker buyer demand.
Homebuyers showed caution in the April-June quarter, causing sales bookings of 28 listed real estate companies to drop 21% year-on-year to nearly Rs 40,000 crore. The slowdown was tied to fewer launches and global economic concerns, with the housing segment accounting for most of the bookings. Godrej Properties topped the list with Rs 8,651 crore, up from Rs 7,082 crore a year earlier, while Prestige Estates Projects slipped to Rs 6,579.3 crore.
Nineteen firms, such as Lodha Developers and Sobha Ltd, recorded higher pre-sales, whereas nine developers, including DLF Ltd and Oberoi Realty, saw declines. Analysts linked the overall dip to a lack of fresh projects, a high base effect, and cautious buyer sentiment. They expect numbers to improve later in the year.
Why it matters
The decline signals reduced confidence among Indian homebuyers, affecting the broader real estate market and related economic activity.
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