Top 11 developers target ₹1.8 trillion in pre-sales for FY27: Report

Anarock expects combined bookings to rise 22.3 per cent year-on-year, supported by steady demand, new launches and higher average selling prices

Top 11 listed developers are targeting combined presales of ₹1.82 trillion in FY27, up from ₹1.49 trillion in FY26, a 22.3 per cent year-on-year (Y-o-Y) rise, according to real estate consultancy Anarock.

 

India’s listed residential developers are sustaining sales momentum despite rising property prices, elevated construction costs and global geopolitical turbulence, the report said. Steady end-user demand, launch pipelines and execution are supporting growth.

 

 Prashant Thakur, executive director & head - research & advisory, Anarock Group, said, “Demand remains healthy across most key residential markets, supported by a steady launch pipeline and sustained buyer confidence.” 

 Of the 11 developers, 10 are projected to report positive presales growth in FY27, while one is expected to see a marginal decline, largely due to a high base.

 

“While the explosive growth of the past three years is normalising, the sector’s underlying resilience remains unshaken. Nearly half of the analysed developers are on track to clock over 20 per cent presales growth,” Thakur said.

 

Oberoi Realty is expected to be the standout performer, with estimated presales growth of 141 per cent Y-o-Y in FY27, while DLF is expected to remain broadly flat.

 

He added that the top performers are aggressively launching new projects and continue to capture high-demand micro-markets. Divergence in individual growth rates stems from varying launch and completion schedules.

 

The inventory-to-annual bookings ratio remains comfortable, ranging from 0.07x to 2.70x based on FY27 estimates. Most developers have inventory equivalent to less than 1.5 years of annual bookings, reducing the risk of inventory overhang, the report said. The inventory-to-annual bookings ratio is a measure of how much available stock a developer has compared with its bookings/pre-sales in a year.

 

“The residential demand composition continues to evolve - while unit sales growth is moderating, booking values remain strong thanks to rising average selling prices, larger apartment sizes, and sustained demand for premium housing. This allows these developers to maintain healthy pre-sales growth despite higher property prices and increasing construction costs”, Thakur stated.

 

Anarock’s analysis of a broader set of listed developers showed aggregate net debt remained largely stable in FY26, edging down marginally even as combined presales rose about 18 per cent Y-o-Y.

 

Much of the incremental growth was funded through internal accruals and operating cash flows rather than fresh borrowings, the report said. Several developers continued to maintain net cash positions, with most expanding their surplus during FY26.

 

Listed and grade A developers also increased their share of new launches across major markets. Their share rose from 66 per cent to 70 per cent in the National Capital Region and from 53 per cent to 57 per cent in Bengaluru between FY26 and Q1 FY27. In the Mumbai Metropolitan Region, their share rose from 24 per cent to 26 per cent.

 

“Homebuyers and lenders are consolidating strongly around financially strong, transparent developers with proven execution. This stabilises the residential market despite global volatility. Moving forward, launch strategies will be surgical. These players are focusing on high-visibility projects, phased execution, and disciplined capital allocation,” Thakur added.