Real estate players see steady growth in September quarter driven by ongoing projects

Developers post Q2 pre-sales growth driven by ongoing projects

Prestige Estates Projects, Lodha Developers, and Puravankara had a steady September quarter, driven largely by sales from existing or ongoing projects with fewer launches during the period.

Prestige recorded Rs 60,173 million in Q2 sales, up 50 percent year-on-year, while Lodha achieved Rs 45.7 billion in pre-sales, a 7 percent increase, the firms said in their business update.

Puravankara reported pre-sales of Rs 1,322 crore, up 4 percent from a year earlier, with most of the sales coming from existing or ongoing projects, the companies said.

Across all three companies, collections and sales growth reflected continued buyer demand, steady execution, and financial discipline despite a restrained launch pipeline.

Prestige said that it achieved record-breaking sales of Rs 1,81,437 million in the first half of FY26, surpassing its full-year FY25 performance. Sales volume for Q2 stood at 4.42 million square feet, up 47 percent YoY, translating to 2,069 units sold. The average realisation for apartments rose 8 percent to Rs 14,906 per square foot, while plots saw a 43 percent increase to Rs 9,510 per sq ft.

Collections were Rs 42,128 million, up 54 percent, taking the half-year total to Rs 87,356  million. The company launched 3.87 million sq ft of developable area, with a total gross development value (GDV) of Rs 39,669 million.

“What makes this performance even more gratifying is the contribution from multiple geographies — Bengaluru, NCR, and Mumbai have all delivered exceptionally well,” Prestige Group chairman and managing director said. “In Mumbai, our flagship project Prestige Nautilus has been a remarkable success, achieving over 60 percent inventory sales with more than Rs 4,400 crore in value within just a few months of launch.”

Its Prestige City Indirapuram, its first NCR project, got tremendous response, clocking sales of more than Rs 8,300 crore and collections of Rs 1,500 crores in just a few months, he said.

Lodha Developers reported pre-sales of Rs 45.7 billion in Q2 FY26, reflecting a 7 percent year-on-year growth. Collections stood at Rs 34.8 billion, up 13 percent compared from the previous year. The company said growth came “despite limited launches in the quarter”. Lodha added one project with a GDV of Rs 23 billion in the Mumbai Metropolitan Region (MMR) and achieved its full-year business development guidance of Rs 250 billion in H1 FY26.

“With the Hon’ble Supreme Court green lighting the Environmental Clearance (EC) process in late August, we have significant launches in H2 and are on track to meet our FY26 pre-sales guidance of INR 210 bn,” Lodha said in a filing.

Puravankara reported pre-sales of Rs 1,322 crore, a 4 percent YoY rise. Its collections stood at Rs 1,047 crore, up 8 percent from the previous year.

“In Q2 FY26, we sustained the growth momentum, driven entirely by sustenance sales, achieving pre-sales of Rs 1,322 crores and collections of Rs 1,047 crores, both improving year-on-year,” managing director Ashish Puravankara said.