While overall housing sales in India recorded a decline in Q2 FY20, the housing sales value of India’s top 9 listed developers stayed on course during the quarter. On a quarterly basis, their housing sales value rose by a very respectable 5% – from approx. INR 52.5 bn in Q1 FY20 to nearly INR 55.2 bn in Q2 FY20.
On a yearly basis, the figures are a bit more sombre – these listed developers collectively saw their housing sales value rise by 2% from INR 53.9 bn in Q2 FY19. Nevertheless, growth of any kind stands out in a market which had been facing headwinds for so long.
Housing Sales Value (INR billion) | |||
Listed Builders | Q2 FY19 | Q1 FY 20 | Q2 FY20 |
Mahindra | 2.6 | 1.2 | 1.1 |
Brigade | 3.4 | 5.6 | 5 |
DLF | 6.3 | 7.1 | 7.3 |
Godrej | 7.9 | 8.9 | 14.4 |
Oberoi | 5.7 | 4 | 3.2 |
Kolte Patil | 4 | 2.8 | 2.7 |
Sobha | 7.4 | 7.8 | 6.8 |
Prestige | 10.3 | 10.2 | 10.3 |
Purvankara | 6.3 | 4.9 | 4.4 |
Total | 53.9 | 52.5 | 55.2 |
Going by the overall area-wise absorption data available as on date, the top eight listed developers collectively notched up a 5% annual increase. Available data indicates that their area-wise sales rose to 7.25 mn sq. ft. in Q2 FY20 from 6.9 mn sq. ft. in Q2 FY19.
On a quarterly basis, these real estate majors saw a 9% gain in overall housing absorption. In the previous quarter of Q1 FY20, the overall absorption recorded by eight listed developers alone was nearly 6.64 mn sq. ft.
Absorption (mn sqft) | |||
Q2 FY19 | Q1 FY20 | Q2 FY20 | |
Brigade | 0.67 | 1.09 | 0.96 |
Godrej | 1.02 | 1.33 | 2.25 |
Kolte Patil | 0.77 | 0.51 | 0.5 |
Mahindra | 0.4 | 0.22 | 0.19 |
Oberoi | 0.24 | 0.24 | 0.14 |
Prestige | 1.68 | 1.40 | 1.46 |
Puravankara | 1.09 | 0.79 | 0.71 |
Sobha | 1.03 | 1.06 | 1.04 |
Total | 6.9 | 6.64 | 7.25 |