Indian Real Estate Sector Shows Mixed Pre-Sales Performance Amid Strong Launch Momentum
Mumbai, June 24, 2026: The Indian real estate sector is witnessing a varied performance in pre-sales for the first quarter of the financial year 2027, characterized by a distinct split between companies driven by heavy new launches and those relying entirely on existing inventory. According to a comprehensive sector update released by Prabhudas Lilladher (PL) Research, a prominent brokerage firm maintaining an “Overweight” rating on the industry, strong launch momentum from key players has injected fresh Gross Development Value (GDV) worth approximately ₹276 billion into the market during the quarter. Channel checks reveal a healthy absorption rate and robust Expression of Interest (EoI) conversions in strategically located projects, indicating that real estate developers still retain considerable pricing power across premium micro-markets.
The report highlights that the stellar surge in volume is primarily led by a handful of aggressive developers, including Prestige Estates Projects, Godrej Properties, and Sobha Ltd. Conversely, prominent players such as Brigade Enterprises, Oberoi Realty, DLF Ltd, and Aditya Birla Real Estate are navigating a relatively muted quarter due to a total absence of major new launches, leaving them dependent on sustenance sales from current holdings. Analysts at PL Research stated that they maintain a constructive stance on developers with strong launch pipelines, balance sheet discipline, and execution track records. Their preference remains heavily weighted toward players with exposure to the high-growth Bengaluru and Mumbai markets, premium brand positioning, and immediate near-term launch visibility, noting these entities are best placed to sustain pre-sales growth through the rest of the financial year.
Among individual corporate performers, Prestige Estates Projects is projected to lead the pack with estimated first-quarter pre-sales surpassing ₹70 billion to ₹75 billion, buoyed by the exceptional sell-out of its Gardenia Estate Phase 2 plotted development in Bengaluru at launch and massive traction for its Golden Grove project in Hyderabad. Godrej Properties is similarly positioned for a strong quarter, expecting pre-sales between ₹80 billion and ₹85 billion driven heavily by its Samaris and Vanantara projects, keeping it on track for its annual pre-sales guidance of ₹390 billion. Bengaluru-based Sobha Ltd is also showing stellar growth, with an expected 35% to 45% increase in pre-sales sequentially and year-on-year, thanks to enthusiastic market responses to its newly launched Crescent residential project in Gurugram and Hoskote development in East Bengaluru. Meanwhile, Sunteck Realty is tracking a steady 22% year-on-year growth, aiming for approximately ₹8 billion in pre-sales following positive consumer reactions to multiple tower launches in the Mumbai Metropolitan Region.
In contrast, the sustenance-driven developers are expecting flat or declining quarters. Brigade Enterprises is anticipating soft pre-sales of ₹8 billion to ₹10 billion, though it aims to catch up later in the year through an ambitious 11.6 million square feet launch pipeline to meet its annual target of ₹90 billion. Oberoi Realty faces double-digit year-on-year de-growth with projected steady pre-sales of ₹10 billion to ₹12 billion while it awaits key regulatory clearances for its upcoming 360 West Gurgaon project. National major DLF Ltd is tracking a quiet first quarter with anticipated pre-sales of ₹15 billion to ₹20 billion due to a high base from the previous year and an absence of fresh launches, though its medium-term pipeline remains incredibly robust with a potential GDV of ₹595 billion. Lastly, Aditya Birla Real Estate expects a soft quarter with pre-sales landing between ₹6 billion and ₹8 billion, with management skewing the bulk of its major ₹95 billion launch pipeline into the second half of the financial year.
