Page 2 - Housing Demand

Godrej Properties records highest-ever Q4, full-year bookings in FY25

At bookings worth Rs 10,163 crore, the company saw a 7% rise year-on-year in the fourth quarter. Booking for the whole FY25 were worth Rs 29,444 crore, up 31%

Godrej Properties Q4 sales bookings up 7% at Rs 10,163 cr on strong demand

Realty firm Godrej Properties on Tuesday reported a 7 per cent growth in sales bookings to record Rs 10,163 crore in the fourth quarter of last fiscal on better demand for its housing projects. The company's sales bookings or pre-sales increased 31 per cent to Rs 29,444 crore in the full 2024-25 fiscal year, according to a regulatory filing. With sales bookings of nearly Rs 30,000 crore, Godrej Properties is likely to emerge as the largest listed real estate company in the 2024-25 fiscal year in terms of sales bookings. DLF is India's largest real estate company in terms of market capitalisation. Godrej Properties said its latest March quarter sales booking value grew 7 per cent annually to Rs 10,163 crore. This was achieved through the sale of 3,703 homes with a total area of 7.52 million square feet. "This is the highest ever quarterly booking value achieved by Godrej Properties," the filing said. This is also the 7th consecutive quarter in which the company has delivered more

Macrotech Q4 pre-sales rise 14% to Rs 4,810 crore on strong housing demand

Real estate company Macrotech Developers Ltd on Monday reported a 14 per cent increase in sales bookings to a record Rs 4,810 crore in the fourth quarter of this fiscal mainly on strong housing demand. Its sales bookings stood at Rs 4,230 crore in the year-ago period. In a regulatory filing, Mumbai-based Macrotech Developers informed that the company's sales bookings grew 21 per cent last fiscal year to Rs 17,630 crore from Rs 14,520 crore in the FY24. "We achieved our best-ever quarter pre-sales of Rs 4,810 crore, showing 14per cent Y-o-Y (year-on-year) growth. With this, we have achieved pre-sales of Rs 17,630 crore in FY25 (up 21 per cent Y-o-Y), surpassing our FY25 guidance and delivering sustainable, predictable 20 per cent growth," the company said. Macrotech Developers, which sells properties under the Lodha brand, is one of the largest real estate companies in the country. It has a significant presence in Mumbai Metropolitan Region (MMR), Pune and Bengaluru housing ...

Housing demand stays strong, prices to rise above inflation: Credai chief

Housing demand continues to be strong and is expected to grow further on the back of tax incentives offered in the Budget and a recent repo rate cut, CREDAI President Boman Irani said. CREDAI is an apex body for private real estate developers. In an interview with PTI, Irani asserted that there are no signs of demand slowdown in the Indian housing market, rather it will continue to rise in the long-term horizon. However, he said there could be an impact in some markets that are "over-heated" but overall at pan-India level there are no concerns at all on the growth going up only. Short-term blips in a real estate cycle is not something that we need to worry about. We need to see long-term growth," he told PTI in Nashik, where CREDAI recently organised its two-day conference. Asked whether the frenzy and euphoria seen in the last three calendar years has subsided, Irani said, "I don't think so." He cited the property registration data of Mumbai market for February this year to prove

Housing demand strong in major cities, but euphoria easing: Pirojsha Godrej

Demand for residential properties remains "very strong" across major cities but the euphoria seen in the last few years is mellowing down a little bit, said Pirojsha Godrej, the executive chairperson of Godrej Properties. Godrej Properties is one of the leading real estate developers in the country. It became the largest listed realty firm in 2024 in terms of sales bookings or pre-sales by selling more than Rs 28,000 crore worth of properties. In an interview with PTI, Pirojsha Godrej noted that there is no demand slowdown in the housing market, as reflected from the company's pre-sales numbers. "Am I seeing a slowdown in demand. The answer is 'No'. Because we have seen Rs 500 crore plus sales in our new housing project launches in five different cities (during the December quarter) across North, South, West and East India. That to me is pretty indicative of a very strong housing market," he said. Pirojsha added: "But, I would say that some of that euphoria is perhaps mellowing dow

RBI's rate cut to have limited impact, more needed to boost housing: Credai

Realtors' apex body CREDAI on Friday said the RBI's decision to cut benchmark lending rate by 25 basis points might have "limited direct impact" and sought further reduction in the next monetary policy meet for "stronger impetus" to housing demand. Reduction in repo rate may lead to lowering of interest rates on home loans provided banks decide to pass on the benefits. Commenting on the monetary policy announcement, CREDAI National President Boman Irani said, "The RBI's decision to reduce repo rate by 25 basis points to 6.25 per cent supplements recent announcements in the Budget aimed at boosting spending and spur economic growth." This supportive monetary policy was "imperative", especially after the recent 50 basis points reduction in Cash Reserve Ratio (CRR), which has already injected significant liquidity into the banking system, he added. "While the current cut may have a limited direct impact, we anticipate that a further rate cut in the next MPC meeting will provide strong

India's student housing market expected to expand as demand rises

Student enrolment in higher education was 43.3 million in 2021-22, increasing 26.5 per cent from 34.2 million in 2014-15, according to data from the Ministry of Education

Supply of homes priced up to Rs 1 crore falls 30% in 2024: PropEquity

Fresh supply of affordable and mid-income homes costing up to Rs 1 crore fell 30 per cent last year to nearly 1.99 lakh units across nine major cities, according to PropEquity. Real estate data analytics firm PropEquity on Tuesday pointed out that India's top nine cities, where a majority of Indians migrate for jobs, are "staring at a housing crisis". PropEquity attributed this fall in new supply of affordable and mid-income homes to a shift in developers' focus towards luxury housing. The supply of homes in the affordable and mid-income category (priced Rs 1 crore and below) across nine cities has dipped to 1,98,926 units in 2024 from 2,83,323 units in the preceding year. The supply was 3,10,216 units in 2022. "Today, 8 per cent of India's population live in tier-1 cities and this number is expected to grow exponentially in the next five years as more people move to these cities for employment opportunities," Samir Jasuja, Founder and CEO of PropEquity, said. The lack of supply i

Housing sales drop 9% in 9 major cities to 471k units in 2024: PropEquity

Housing sales across nine major cities dropped 9 per cent to nearly 4.71 lakh units in 2024 on lower demand as well as fall in fresh supply, according to PropEquity. Data analytics firm PropEquity, part of listed entity P E Analytics, on Wednesday released the housing data for nine major cities namely Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Navi Mumbai, Pune and Thane. As per the data, the sales of residential properties declined 9 per cent to 4,70,899 units during 2024 from 5,14,820 units in the preceding year. New supply fell 15 per cent to 4,11,022 units in 2024 on the back of two quarters of under-activity due to general elections and monsoon. Samir Jasuja, CEO & Founder, PropEquity said, "The drop in housing supply and sales in 2024 is due to the high base effect, as 2023 was a peak year." "A detailed analysis of the numbers reveals that despite the drop, the supply to absorption ratio in 2024 remains the same as 2023 which indicates that the fundamentals .

Keystone Realtors sale bookings up 40% to Rs 863 crore in Q3 on high demand

Keystone Realtors Ltd on Thursday reported a 40 per cent growth in sale bookings to Rs 863 crore in the December quarter on robust housing demand. Keystone Realtors markets its properties under Rustomjee brand. In a regulatory filing, the company informed that its pre-sales or sale bookings stood at Rs 863 crore during the third quarter of this fiscal from Rs 616 crore in the corresponding period of the preceding year. During the April-December period of this fiscal, the pre-sales increased to Rs 2,174 crore against Rs 1,423 crore in the year-ago period. "In the third quarter of 2024-25, we saw impressive growth across key business indicators," Boman Irani, Chairman and Managing Director of Keystone Realtors, said. He said the company has almost achieved the pre-sales of 2023-24 in just 3 quarters of this fiscal, "putting us in a strong position to achieve the full year pre-sales guidance given by us". Irani expressed confidence that the company is well-positioned to not only sec

Demand-supply mismatch: Affordable housing shortage must be addressed

A Knight Frank study shows that India will face an affordable housing shortage of 31.2 million units by 2030. There is already an existing shortage of 10.1 million units

Puravankara bookings fall 17% to Rs 1,331 cr despite strong housing demand

Realty firm Puravankara Ltd's sale bookings fell 17 per cent to Rs 1,331 crore in the second quarter of this fiscal year despite strong housing demand. Its sale bookings stood at Rs 1,600 crore in the year-ago period. The company sold properties worth Rs 2,459 crore during the first six months of this fiscal year, down from Rs 2,725 crore in the corresponding period of the previous year. "In Q2FY25, we have achieved collections of Rs 1,033 crore and pre-sales of Rs 1,331 crore mostly from sustenance sales. Our performance continues to reflect robust housing demand across key markets, driven by our strategic focus on customer-centric offerings and operational efficiencies," Ashish Puravankara, Managing Director of Puravankara Ltd, said. In the first half of the fiscal, he said the company witnessed sustained traction across its portfolio and continued to replenish land bank by acquiring over 5.75 million square feet of saleable area in Mumbai, Bengaluru and Goa with a total potentia

Indian real estate mkt to jump manifold by 2047, to touch $10 trn: Report

Housing demand in Indian real estate market continues to be strong with no signs of slowdown and there is a need to boost supply to meet the requirements, according to realtors' apex body CREDAI. The association said that housing sales in any particular quarter could fall due to lesser number of launches, but consumer demand that has surged post COVID pandemic remains intact. CREDAI is holding its flagship conference 'CREDAI NATCON' here during September 23-26 being attended by more than 1,100 delegates. When asked about estimated fall in sales during the current quarter, CREDAI National Chairman Manoj Gaur said the new launches have been lower in the September quarter. "There is no inventory. There is a huge demand for residential properties from good developers at right locations and attractive prices," Gaur told reporters here. He was replying to a query about PropEquity latest data which estimates 18 per cent fall in sales across nine major cities to 1,04,393 units during ...

Nearly 2,000 housing projects stalled across 42 cities: PropEquity

Nearly 2,000 housing projects comprising 5.08 lakh units are stalled across 42 cities in the country, mainly due to financial mismanagement by developers and lack of execution capabilities, according to data analytic firm PropEquity. As per the PropEquity data, there are 1,981 residential projects that are stalled totalling 5.08 lakh units. Of these stalled projects, as many as 1,636 projects totalling 4,31,946 units are in 14 tier I cities, while 345 projects totalling 76,256 units are in 28 tier II cities. It also pointed out that the number of stalled units rose to 5,08,202 from 4,65,555 units in 2018. Samir Jasuja, Founder and CEO at PropEquity said, "The problem of stalled projects and the subsequent rise is due to the lack of execution capabilities of developers, cash-flow mismanagement and diversion of funds to buy new land banks or retire other loans." He stressed on the need to provide independent third-party audit services for homebuyers to empower them to make an informe

Godrej Properties sales jump four-fold in June quarter to Rs 8,637 crore

Godrej Properties clocked a four-fold jump in consolidated net profit to Rs 520.05 crore year-on-year

Real estate demand to remain buoyant in India, says Abhinandan Lodha

Lodha firm targets Rs 2,400 cr revenue in FY25

Credai, NAREDCO seek repo rate cut in next MPC meet to boost housing demand

Realtors apex bodies CREDAI and NAREDCO have sought a reduction in repo rate in the next monetary policy to bring down interest rates on home loans and further boost demand for residential properties. The Reserve Bank of India (RBI) on Friday kept the repo rate unchanged. Commenting on the decision, realtors apex body CREDAI National President Boman Irani said the country achieved high economic growth in the last fiscal on contributions from all sectors, including real estate. "Coupled with other healthy macro-economic indicators and CPI at an 11-month low at 4.83 per cent recorded in last April, RBI possesses a strong opportunity to provide a sustained, formidable platform to further elevate this holistic economic development across industries," he said. In the next monetary policy, he said the RBI should look toward "cutting the repo rates for the first time since February 2023, and offer lower lending rates that would boost consumer spending even more." Realtors body NAREDCO ..

Mumbai city sees 12,000 property registrations in May, up 22% annually: Rpt

Registration of properties in Mumbai municipal region increased 22 per cent during May to 12,000 units driven by strong housing demand, according to real estate consultant Knight Frank. Citing Maharashtra government data, Knight Frank India said Mumbai city (area under BMC jurisdiction) recorded around 12,000 property registrations last month as against 9,823 units in May last year. State exchequer garnered Rs 1,034 crore in May 2024, up 24 per cent from the same month last year. Of the overall registered properties in May 2024, residential units constituted 80 per cent. "The continuous year-on-year growth in property sales and registrations provides a continuum to the growth story that propelled on the back of state government incentive and since then, despite a rise in average prices across the city, sales and registrations of properties have maintained the momentum," Shishir Baijal, Chairman & Managing Director, Knight Frank India, said. This reflects the appetite of the ...

Keystone Realtors sales up 41% to Rs 2,266 cr on strong housing demand

Keystone Realtors Ltd, which sells properties under 'Rustomjee brand', on Monday reported a 41 per cent growth in sales bookings to Rs 2,266 crore driven by strong housing demand. Its sales bookings stood at Rs 1,604 crore in the 2022-23 fiscal year. The Mumbai-based company sold 1.21 million square feet area last fiscal, up 17 per cent from 1.04 million square feet in the preceding year, according to a regulatory filing. During the fourth quarter of 2023-24, the sales bookings surged by 78 per cent to Rs 843 crore from Rs 473 crore in the year-ago period. It sold 0.38 million square feet area in the January-March quarter, as against 0.28 million square feet in the corresponding period of the last year. "The fiscal year FY24 has proven to be an eventful period for our company, marked by notable achievements across all key performance metrics including pre-sales, collections, launches, and new project additions," said Boman Irani, CMD of Keystone Realtors. He said the company's ..

Macrotech Q4 sales bookings up 40% at Rs 4,230 cr on strong housing demand

Realty firm Macrotech Developers Ltd on Friday reported a 40 per cent annual growth in its sales bookings to Rs 4,230 crore in the fourth quarter of last fiscal driven by strong housing demand. Its sales bookings stood at Rs 3,030 crore in the year-ago period. Macrotech Developers, which sells its properties under the Lodha brand, registered a 20 per cent growth in its sales bookings to a record Rs 14,520 crore last fiscal from Rs 12,060 crore in the 2022-23 financial year, according to a regulatory filing. "We had Q4, FY24 pre-sales of Rs 4,230 crore - our best quarterly performance ever, up 40 per cent on YoY (year-on-year) basis," Macrotech Developers said. "For FY24, pre-sales were Rs 14,520 crore - once again our best-ever annual pre-sales performance, thus meeting our guidance of delivering consistent and predictable 20 per cent growth," it added. The company's net debt has come down to Rs 3,010 crore as on March 31, 2024, from Rs 7,070 crore at the end of the previous ...