Unsold inventory is up. However, analysts believe the ongoing financial year (FY25) will be a record year due to strong traction from new launches.
Post-Covid-19, the sector witnessed a strong upswing in all top markets. Over FY21-24, 11 real estate majors saw an aggregated annual growth of 43 per cent.
Guidance implies aggregate sales booking will grow by 27 per cent (Y-o-Y) to ₹1.25 trillion in FY25 and these 11 companies have already recorded ₹27,800 crore in sales booking in Q1FY25.
New launches of gross development value (GDV) of ₹1.52 trillion are in planning, and the current inventory is ₹1.47 trillion. Launches with a GDV of ₹1.15 trillion are lined up in H2FY25. In some cases, sales bookings are at over 100 per cent of unsold inventory, indicating that new launches are urgent.
This story is from the September 24, 2024 edition of Business Standard.
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This story is from the September 24, 2024 edition of Business Standard.
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