India's listed realty firms see sales bookings slide 21% in June quarter

India's largest listed real estate companies witnessed a significant contraction in sales momentum during the June quarter, with collective pre-sales dropping to Rs 39,964 crore compared to Rs 50,900 crore in the year-ago period, according to data compiled from investor presentations.

The quarter-on-quarter decline of 21 per cent reflects a cautious approach by major developers, who held back from launching new housing projects amid lingering global economic uncertainties. The housing segment continued to be the primary contributor to overall sales bookings across the sector.

Godrej Properties emerged as the top-performing listed real estate developer in terms of sales bookings, achieving pre-sales of Rs 8,651 crore during the June quarter, up from Rs 7,082 crore in the corresponding year-ago period. The company's strong performance contrasted with the broader sector slowdown.

Despite the overall decline, there were bright spots within the sector. Of the 28 major listed developers tracked, 19 companies reported growth in pre-sales during the quarter. Key performers among those showing growth included Lodha, Sobha, Max Estates, Puravankara, Kalpataru, Embassy Developments, Mahindra Lifespace, and Raymond Realty, indicating varied performance across the market.