Synopsis: India’s listed top 5 real estate developers have almost 60% of pre-sales in the property segment for FY26, as the housing segment has seen robust demand, premiumisation, and large-scale project releases in key markets.
India’s housing real estate market demonstrated excellence in FY26, showing stability throughout various leading price point markets. The country’s leading developers remained active with their expansion and new projects by introducing mega projects and high-end properties. These 5 listed largest real estate companies accounted for approximately 60% of the total number of property transactions during this period, showing the growth of organized players.
1. Godrej Properties – ₹34,171 Crore
FY26 pre-sales: ₹34,171 crore (vs ₹29,444 crore in FY25). For the second consecutive year, Godrej Properties retained its pole position, surpassing its guidance of ₹32,500 crore in pre-sales, driven by strong demand in both luxury and mid-premium housing categories. The contribution of Mumbai stood at over ₹11,000 crore, comprising significant launches such as Godrej Trilogy in Worli (₹2,000 crore) alongside township projects in Kandivali, Thane (₹7,500 crore+ potential) and Kharghar (₹3,500 crore), establishing its leadership in the MMR market.
Outside of Mumbai, other key contributors include projects in NCR such as Godrej Riverine in Noida (₹2,000 crore+ sales) and DMIC Greater Noida (₹7,000 crore+ potential), projects in Bengaluru such as Vanantara and MSR City (total of around ₹4,000 crore in sales), and the Madison Avenue project in Hyderabad (₹1,000 crore+). Further, the company made expansion in plotted developments in Panipat and Nagpur. Overall, FY26 shows excellent execution and pan-India expansion, along with a solid pipeline supported by 20 land acquisitions with ₹42,000 crore revenue potential.
Key highlights of FY26 have been strong national diversification, with almost 68% pre-sales originating from outside the Mumbai Metropolitan Region (MMR), showing increased presence in leading housing markets in India.
2. Prestige Estates Projects – ₹30,024 Crore
FY26 pre-sales: ₹30,024 crore (vs ₹17,023 crore in FY25). Prestige Estates Projects witnessed a crossover to the ₹30,000 crore pre-sales level during FY26, which was 76% higher YoY on the back of high demand in metros. It had already announced ₹22,327.3 crore in pre-sales in 9 months of FY26, which was 122% higher YoY compared to its previous full-year performance.
Geographically, Mumbai accounted for 36% of Q3 FY26 sales, followed by Bengaluru at 25%, whereas Hyderabad and NCR each contributed 16%. The company had announced 31.84 million sq. ft. worth ₹27,350 crore Gross Development Value (GDV) of launches during the year under review and added ₹50,000+ crore of pipeline during the same period.
Operationally, Prestige was present in Bengaluru, Mumbai, NCR, Hyderabad, and Chennai, where the company is undertaking 128 projects covering 195 million sq. ft. as of December 2025. Prestige had also added 102 acres of land with ₹20,400 crore GDV potential and a planned ₹8,000-10,000 crore capex in MMR and Pune. Strategically, it has expanded its footprint in NCR through a ₹938.75 crore partnership in Bharatnagar Buildcon, whereas it also had a healthy commercial portfolio with 95+% of office occupancy and ₹4,000 crore projected annuity income by FY30.
3. Lodha Developers (Macrotech) – ₹20,530 Crore
FY26 pre-sales: ₹20,530 crore (vs ₹17,630 crore in FY25). Lodha Developers made its best-ever pre-sale performance at ₹20,530 crore in FY26. Nevertheless, Lodha continued to exhibit its impressive growth trend, where about 32% of total sales came from Pune and Bengaluru, emphasizing its continuous diversification beyond MMR. Over the last 9 months, it launched 5 projects, each having a combined GDV of ₹58,800 crore, exceeding its annual guidance and making future launches even more promising.
Major developments in FY26 involved the continuation of its impressive performance in its MMR region by Lodha and Lodha Luxury, along with the ongoing development of Palava (Dombivali), its largest integrated smart city project. It diversified its presence in Pune and Bengaluru, whose combined contribution towards the total sale is increasing, and entered the market in Delhi-NCR with two joint development projects. For the future, there is a strong H2 FY26 launch pipeline of around 15 launches with a total value of ₹14,000 crore across MMR, Pune and Bengaluru totaling 10 million sq ft.
4. DLF – ₹20,143 Crore
FY26 pre-sales: ₹20,143 crore (vs ₹21,223 crore in FY25). DLF continued to strengthen its leadership in the ultra-luxury housing segment, supported by marquee projects and a robust development pipeline, contributing to nearly 90% of its total sales. Nonetheless, it continues to rule in the ultra-luxury category owing to its robust pipeline, including The Dahlias at Golf Course Road, Gurugram, with the ability to generate revenues worth ₹26,000 crore and initial bookings indicating promising signs of demand. The scale of operations at DLF cannot be matched by any other firm, having developed 185+ projects and 352 million sq ft till now with an additional 280 million sq ft in the development pipeline.
The key launches in FY26 include DLF Privana North at Gurugram, which got sold out completely in a week for ₹11,000 crore, and DLF Arbour Senior Living, launching itself in the senior housing segment for revenues of ₹2,000 crore. Furthermore, the company is diversifying itself from its usual business of expanding through DLF Westpark at Mumbai, targeting the mid-premium market, and its planned ultra-luxury villas project at Reis Magos, Goa, for FY27.
5. Signature Global – ₹8,250 Crore
FY26 pre-sales: ₹8,250 crore (vs ₹10,290 crore in FY25). Of the top five developers, Signature Global developers’ average sales realization increased by 22% year-on-year to ₹15,250 per sq ft, reflecting the company’s successful move towards premium housing. With a sellable area of 53.3 million sq ft and concentrated efforts on Gurugram’s fast-growing areas, Signature Global is perfectly positioned to leverage the demand for housing in the region.
The growth will be driven by major residential projects in Sector 71 and Sector 37D, the highly strategic location of the land parcel in the Sohna Elevated Corridor and Gurugram Commercity, which is a joint venture between Signature Global and RMZ Group with an indicative capital value of over ₹15,000 crore. The company has even strengthened its premium profile with the introduction of Lamborghini-branded residences, entering the luxury housing segment.
Future Outlook
The Indian residential real estate market is likely to remain highly concentrated, with leading listed real estate developers holding on to the lead in the pre-sales segment due to its robust housing demand, premiumisation and large size of projects being launched. Expansion in new micro-markets, increased contribution of luxury and township projects, and continued land acquisition activity will drive growth.
Written By Ameet S
