Listed real estate developers have beaten the residential downturn blues so far this year. Residential sales value of top 9 realty developers in the first quarter of 2019-20 stood at around Rs 5,280 crore; in 2018-19, their sales jumped 159% compared with 2016-17, and also surpassed the market’s peak years of 2014-15 by 63%. The total sales value achieved by these players in 2018-19 was around Rs 22,800 crore.
These companies have together sold around 44 million sq ft of residential space in 2018-19 against around 17 million sq ft in 2016-17- the demonetisation period – and 27 million sq ft in 2014-15. Their sales have collectively grown by 63% since the housing market’s peak years of 2014-15, showed data from ANAROCK Research.
“The housing space sold by the nine listed firms in the first quarter of the current fiscal was nearly 17.5 million sq ft in a single quarter – slightly less than half the total space sold in all four quarters of 2018-19.
While the data for the three quarters of this financial year is still underway, we can expect sales to be much higher,” said Anuj Puri, chairman, ANAROCK Property Consultants. The top listed developers considered for analysing trends include DLF, Mahindra Lifespace Developers, Godrej Properties, Oberoi Realty, Sobha, Puravankara, Prestige Estates, Brigade Enterprises and Kolte Patil Developers.
“Homebuyers are returning to the market but given the uncertainty and trust deficit in the realty sector, established and listed developers with strong execution track record are witnessing good sales traction. Among the various offerings, ready to move in and near completion projects are being preferred by homebuyers for this very reason,” said Rajeev Talwar, CEO, DLF.
Source: https://economictimes.indiatimes.com/