India’s 28 major listed real estate companies recorded combined sales bookings of INR 39,964 crore in the first quarter of FY27, down 21% from INR 50,900 crore in the year-ago quarter. The figures, compiled from investor presentations, showed that lower sales volumes and limited project launches affected overall pre-sales. The housing segment continued to account for the bulk of the sales bookings. 
Godrej Properties emerged as the largest listed developer by sales bookings during the quarter, with sales of INR 8,651 crore compared with INR 7,082 crore in the corresponding period last year. Prestige Estates Projects ranked second with bookings of INR 6,579.3 crore, although its sales were down sharply from INR 12,126.4 crore a year earlier. 
Lodha Developers reported pre-sales of INR 4,630 crore, up from INR 4,450 crore, while Sobha’s sales bookings increased to INR 3,656 crore from INR 2,079 crore. Signature Global, however, recorded a decline to INR 1,970 crore from INR 2,640 crore. 
DLF, the largest real estate company in India by market capitalisation, reported sales bookings of just INR 657 crore compared with INR 11,425 crore in the year-ago period. The company did not launch any project during the first quarter of FY27. Aditya Birla Real Estate’s pre-sales also declined to INR 329 crore from INR 422 crore. 
Among other developers, Puravankara’s sales bookings rose to INR 1,439 crore from INR 1,124 crore, while Kalpataru recorded INR 1,329 crore compared with INR 1,249 crore. Max Estates saw its pre-sales increase sharply to INR 1,093 crore from INR 217 crore. Brigade Enterprises reported a marginal decline to INR 1,061 crore from INR 1,118 crore, while Oberoi Realty’s sales bookings fell to INR 1,049.88 crore from INR 1,638.68 crore. 
Mahindra Lifespace Developers more than doubled its sales bookings to INR 925 crore from INR 449 crore. Embassy Developments also recorded a sharp increase, with bookings rising to INR 868 crore from INR 198 crore. Sunteck Realty’s pre-sales increased to INR 787 crore from INR 657 crore, while Raymond Realty more than doubled its bookings to INR 700 crore from INR 306 crore. 
Kolte-Patil Developers reported almost unchanged sales bookings at INR 617 crore against INR 616 crore in the year-ago period. Keystone Realtors’ bookings declined to INR 617 crore from INR 1,068 crore, while TARC increased its pre-sales to INR 602 crore from INR 225 crore. Shriram Properties recorded INR 484 crore against INR 441 crore. 
Arvind SmartSpaces increased its sales bookings to INR 432 crore from INR 175 crore, while Sri Lotus Developers rose to INR 409 crore from INR 61 crore. Ashiana Housing, which focuses on senior living projects, reported bookings of INR 358 crore compared with INR 431 crore. Arihant Superstructures recorded INR 173.1 crore against INR 150.6 crore, while Arkade Developers increased its bookings to INR 155.1 crore from INR 142 crore. 
Ajmera Realty & Infrastructure reported pre-sales of INR 146 crore, up from INR 108 crore, while Suraj Estate Developers increased its bookings to INR 141 crore from INR 81 crore. Eldeco Housing & Industries reported a decline to INR 105.7 crore from INR 221.1 crore. Overall, 19 of the 28 developers reported an increase in pre-sales, while nine reported a decline. 
Real estate consultants attributed the decline in collective bookings to fewer fresh launches by major developers, a high base from the previous year and cautious sentiment among prospective homebuyers. Global economic uncertainties, including the impact of the West Asia conflict, also affected market sentiment. Consultants expect sales activity to improve from the second quarter of FY27 as developers bring more projects to the market. 
Sales bookings, also referred to as pre-sales, have become an important measure of operational performance for listed developers. However, the value of bookings is not recognised as revenue immediately, as revenue recognition is linked to the completion of the respective real estate projects. Many unlisted developers do not disclose quarterly or annual sales booking figures, meaning the 28-company data does not represent the entire Indian real estate market. 
Source PTI