Realty Sales Bookings Fall 21% in Q1 FY27

Combined sales bookings of 28 major listed real estate developers declined 21% year-on-year during the first quarter of FY27.

The companies collectively recorded ₹39,964 crore in pre-sales during April-June 2026 compared with ₹50,900 crore a year earlier.

However, the decline does not necessarily indicate a uniform slowdown in homebuyer demand.

Nineteen of the 28 developers included in the data recorded growth in sales bookings. Several major companies also delivered substantial increases during the quarter.

Godrej Properties led the sector with ₹8,651 crore in sales bookings, while Lodha Developers recorded ₹4,630 crore. Sobha’s sales increased sharply to ₹3,656 crore.

At the same time, some developers recorded sizeable declines, partly reflecting fewer launches during the quarter and the high base created by strong sales in the previous year.

For homebuyers, the numbers highlight an increasingly project-specific housing market. Demand can vary significantly depending on location, developer reputation, pricing, configuration and the quality of newly launched inventory.

A decline in aggregate sales therefore does not automatically translate into lower property prices or weaker demand in every micro-market.

Sandeep Sadh’s Take:

“Homebuyers should not read a national sales decline as a signal that every local market is weakening. Mumbai real estate remains highly micro-market and project specific.”