New Delhi: The revenues from home sales of top listed real estate developers increased by 5 percent while new launches halved in the first nine months of the current fiscal.
The top listed developers clocked Rs 16,500 crore in revenues from residential properties in the first nine months of the ongoing financial year as compared to Rs 15.730 crore in the same period of the previous fiscal.
The new launches by top real estate companies came to 15.71 million square feet in the first nine months of the ongoing financial year as compared to 31 million square feet in the same period of the previous financial year, according to a report by ANAROCK Property Consultants.
The listed companies included in the analysis are DLF Ltd, Puravankara Ltd, Sobha Ltd, Brigade Enterprises Ltd, Prestige Estates, Kolte Patil Developers, Mahindra Lifespace Developers, Godrej Properties and Oberoi Realty.
As far the festive quarter of October-December 2019, these companies had a collective revenues of about Rs 5,800 crore, up 2 percent as compared to the same quarter of the previous year.
The total space sold by these companies (excluding DLF) stood at 7.1 million square feet in the festive quarter of 2019 as against 7.9 million square feet in the same quarter of 2018.
Godrej Properties, Prestige Estates and Sobha Ltd were the top 3 companies with maximum sales revenues during the first nine months of the current financial year. They accounted for a 55 percent share of the total sales revenue of Rs 16,500 crore.