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Monday, July 15, 2024

Top realtors experience surge in pre-sales for FY24

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In Short:

Thirteen top real estate companies have sold over 100 million square feet in FY24 for over ₹1.1-lakh crore, up 40% from last year. Sales expected to increase to over 150 msf and ₹1.5-lakh crore this fiscal year. Companies have added projects worth ₹2.5-3-lakh crore, ensuring revenue visibility for years. Smaller players also seeing growth. Focus on business development to meet high demand. Inventory falling, indicating strong sales.


Real Estate Players Thrive Despite Challenges

Thirteen leading **real estate** companies have defied odds by selling over 100 million square feet in FY24, raking in a total of ₹1.1-lakh crore. An impressive 40% jump compared to the previous year!

Thriving Amidst Challenges

Despite elevated mortgage rates and soaring home prices, the industry has witnessed a surge in **housing sales**. The Reserve Bank of India maintaining a steady lending rate at 6.5% for a year now has not dampened the spirits of buyers.

Standout Performers

Mumbai-based **Godrej Properties** and Bengaluru-based **Prestige Estates Projects** have emerged as leaders in the market, surpassing their sales targets with ease. Godrej Properties alone sold 20 million square feet, amounting to a staggering ₹22,527 crore.

Expanding Horizon

Not just the big players, even smaller firms like **Keystone Realtors** and **Shriram Properties** are riding the wave of demand. Keystone Realtors has set its sights on accelerating the pace of launches, while Shriram Properties eyes a 15% sales growth this year.

Building for the Future

Real estate players are not resting on their laurels. They are actively acquiring land, taking up redevelopment projects, and monetizing their existing land banks to fuel their project pipelines.

Promising Pipeline

**Macrotech Developers** and **Sunteck Realty** are among the frontrunners, with new projects worth billions in the pipeline. Despite the increased pace of launches, inventory in the industry has seen a 6% dip, reaching a multi-year low.

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