Realtors build hopes on new cities, more launches after tepid H1

REAL ESTATE COMPANIES are looking to increase the number of project launches and add new cities to boost bookings in the second half of FY25, following a muted first half due to elections and other factors.

- RAGHAVENDRA KAMATH

Most developers are banking on geographical expansion, while others plan to augment the supply of mid-income housing projects for higher bookings.

Prestige Estates Projects has lined up launches across its key markets such as Bengaluru, Hyderabad, Mumbai, Goa, and Chennai, in addition to a large project in Delhi-NCR, said Irfan Razack, its chairman and MD. These projects are worth almost ₹30,000 crore of gross development value (GDV) and these will drive the sales for the next four months, he said.

"The demand remains very strong and all we need to do is get the right product to the market at the right price," Razack said. Another 4-5 launches are in the works for February and March which will also add to the inventory available for sale in the rest of FY25, he said.