Real Estate – Sector Update – Pre-sales Trend
Published on 26 Sep 2026
Our channel checks indicate Q2FY27 pre-sales across our coverage and non-coverage universe mix bag reporting relying on launch-led and sustenance sales. Strong launch momentum was witnessed across companies like Oberoi Realty (OBER IN), Prestige Estate (PEPL IN), Godrej Properties (GPL IN), Brigade Enterprises (BRGD IN), and SOBHA Ltd (SOBHA IN). Overall, companies have launched cumulative GDV of ~INR230bn in Q2 and witnessing healthy absorption, supported by strong EOI conversions in well-located projects, alongside continued pricing power in premium micro-markets. OBER is expected to lead with ~INR79-80bn worth of bookings at 360 West. GPL and BRGD are likely to report flat pre-sales YoY despite new launches worth of INR30bn GDV, given high base. DLF and ABRL are likely to report subdued numbers given the absence of new launches, relying largely on sustenance sales. FY27 guidance remains broadly intact, supported by a strong H2 launch pipeline. Timely RERA approvals, rather than demand, remain the key near-term risk to launch execution and pre-sales visibility.
