Residential sales of 9 leading real estate companies increased by 2% at almost Rs 5,800 crore.

According to property consultant Anarock, housing sales bookings of the top nine listed developers increased by 2% to nearly Rs 5,800 crore during the third quarter of this fiscal year.

DLF, Sobha, Puravankara, Prestige Estates, Brigade Enterprises, Godrej Properties, Mahindra Lifespace Developers, Oberoi Realty and Kolte Patil have been included in this sales bookings list.

“In the last festive quarter, housing sales from the nine top stock exchange firms continued to grow steadily. Despite all downturns, collective revenue in the third quarter of the 2020 fiscal year remained slightly smaller than Rs 5,800 crore, growing 4% each quarter and 2% a year,” says Anarock.

In the first three quarters of fiscal 2020, the total sales bookings of the Top 9 developers were equivalent to Rs 16,500 crore, compared with Rs 15,730 crore during the same span of last year.

The three top players with the highest sales revenue in the first nine months of fiscal 2020 were Godrej Properties, Prestige Estates and Sobha. The combined sales represented a 55% share of Rs 16,500 crore total sales revenue.

“The developers’ tendency to purposely limit new supplies persists, as new launches at this period can contribute to more unsold stocks and adversely represent cash flows,” said the consultant.

Over the period from April to December of 2019 to nearly 15.71 million sq ft in the corresponding period of fiscal 2020, the new launches of 9 top builders listed (excluding DLF) have fallen by more than half.