India’s listed real estate players have delivered a strong first half this fiscal, with combined property sales nearing Rs. 92,500 crore. A recent PTI report, based on data drawn from regulatory filings of leading developers, indicates that 28 major listed realtors collectively logged sales bookings of Rs. 92,437 crore in H1FY26.
While the overall performance shows a healthy demand, a closer look shows that a handful of developers dominated the charts, raising the big question: Who sold the most?
Who Sold the Most?
The data shows that Prestige Estates Projects Ltd secured the top position in April-September of FY26, achieving pre-sales of Rs. 18,143.7 crore, making it the leading listed developer for the period. DLF Ltd, which holds the highest market capitalisation in the sector, followed closely with Rs. 15,757 crore in pre-sales. Godrej Properties, another major Mumbai-based developer, reported sales bookings of Rs. 15,587 crore, while Lodha Developers posted property sales of Rs. 9,020 crore during the same six-month period.
Signature Global, headquartered in the Delhi-NCR region, generated Rs. 4,650 crore in sales bookings in H1FY26. Collectively, these top five developers alone contributed more than Rs. 63,000 crore, accounting for nearly 70 percent of all pre-sales recorded by the 28 tracked real estate companies.
In FY25, 26 major listed real estate firms together sold properties worth Rs. 1.62 lakh crore. Godrej Properties Ltd topped the table in the previous fiscal with sales bookings of almost Rs. 30,000 crore
How Did Other Realty Players Perform?
Beyond the top performers, several mid-sized and emerging developers also recorded robust numbers. Bengaluru-based Sobha Ltd and Brigade Enterprises reported property sales worth Rs. 3,981.4 crore and Rs. 3,152 crore, respectively. Mumbai’s Oberoi Realty Ltd posted bookings of Rs. 2,937.74 crore, while Kalpataru Ltd achieved Rs. 2,577 crore in pre-sales. Puravankara Ltd, another Bengaluru-origin developer, delivered Rs. 2,455 crore in property sales.
Among Mumbai-based firms, Keystone Realtors (Rustomjee) logged Rs. 1,839 crore, while Sunteck Realty and Aditya Birla Real Estate reported pre-sales of Rs. 1,359 crore and Rs. 1,312 crore, respectively. Pune-based Kolte-Patil Developers sold properties worth Rs. 1,286 crore, and Mahindra Lifespace Developers Ltd closed the first half with Rs. 1,200 crore in pre-sales. Bengaluru’s Shriram Properties Ltd recorded Rs. 1,126 crore.
In the sub-Rs. 1,000 crore category, numerous developers delivered steady performance. Mumbai-based Ajmera Realty & Infrastructure Ltd and Raymond Realty logged Rs. 828 crore and Rs. 760 crore, respectively. Ashiana Housing Ltd, operating in the Delhi-NCR belt, posted Rs. 734.4 crore. Both Embassy Developments Ltd (Bengaluru) and Arvind Smartspaces Ltd (Ahmedabad) reported Rs. 607 crore each.
Delhi-NCR-based TARC Ltd recorded pre-sales of Rs. 565 crore, while Mumbai’s Arihant Superstructures Ltd and Max Estates Ltd (Delhi-NCR) posted Rs. 386.4 crore and Rs. 373 crore, respectively. Arkade Developers Ltd achieved Rs. 331 crore, and Sri Lotus Developers logged Rs. 319 crore. Lucknow-headquartered Eldeco Housing & Industries Ltd reported Rs. 309.2 crore, and Suraj Estate Developers Ltd, based in Mumbai, rounded off the list with Rs. 234 crore in pre-sales for H1FY26.
What Market Indicators Reveal About Realty Stocks in H1?
Market data shows that the NIFTY Realty Index gained 5 percent during H1FY26, mirroring the sector’s solid operational momentum. However, sentiment turned cautious in recent weeks. Over the past five trading sessions, the index has dropped more than 4 percent, and in the last 30 days, it has slipped 3.75 percent.
Looking at a broader horizon, the index is down 4 percent over the past six months, and on a year-to-date basis, it has declined nearly 13 percent, indicating persistent pressure despite strong sales bookings across major developers.
Outlook
According to a Grant Thornton Bharat analysis, while challenges such as affordability constraints, regulatory complexities, and global macro uncertainty might continue, India’s real estate sector appears well-positioned to strengthen its growth trajectory. The report notes that the industry is increasingly resilient due to technological advancements, evolving consumer behaviour, and ongoing formalisation.
The firm stated, “While the sector is growing, it continues to face challenges like regulatory hurdles, rising construction costs, and liquidity issues, especially for smaller developers. While reforms like RERA and GST boost transparency, ongoing policy support and financing access are vital for long-term stability.”
Overall, supported by steady investor interest, continued urbanisation, infrastructure expansion, and deeper tech integration, analysts believe the sector is primed for sustained momentum through FY2025–26 and beyond.
-Manan Gangwar
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