DLF, Godrej Properties, Kolte Patil, Brigade, Mahindra, Oberoi Realty report 4% QoQ Sales Increase
DLF, Godrej Properties, Kolte Patil, Brigade, Mahindra, Oberoi Realty, Prestige, Purvankara and Sobha Developers are major listed real estate companies in India, dealing with mainly housing segment or commercial real estate.
Housing sales revenue of the top 9 stock exchange-listed developers continued to grow steadily in the last festive quarter. Despite all headwinds, their collective revenues in Q3 FY20 stood at a little less than INR 5,800 crore, increasing by 4% on a quarterly basis and 2% in a year. Meanwhile, the total area sold by these top developers (excluding DLF) during the festive quarter was nearly 7.1 mn sq. ft. against 7.2 mn. sq. ft. in the preceding quarter, and 7.9 mn. sq. ft. a year ago.
The top listed developers analysed include DLF Ltd., Sobha Ltd., Puravankara Ltd., Prestige Estates, Brigade Enterprises Ltd., Mahindra Lifespace Developers Ltd., Godrej Properties Ltd., Oberoi Realty Ltd. and Kolte Patil developers.
The total area sold (in mn sq. ft.) was slightly higher during last year’s festive quarter (Oct-Dec FY 19), while the total revenue was more this year. This indicates that the sale of homes other than affordable housing saw a higher overall sales value.
The collective data trends of the first three quarters of FY 2020 indicate that the overall revenue of the top 9 developers was close to INR 16,500 crore as against INR 15,730 crore during the corresponding period in FY 2019. The total residential space sold by these top players (excluding DLF) b/w Apr-Dec was approx. 21 mn sq. ft. against a little over 20 mn sq. ft. a year ago.