India’s real estate sector slowed in the first quarter of FY27 as sales bookings of 28 listed property developers fell 21% to nearly ₹40,000 crore. The decline came from fewer new launches and cautious buyers amid global uncertainties. Godrej Properties stood out with strong growth in bookings despite the overall fall.
The combined sales bookings of these firms were ₹39,964 crore compared with ₹50,900 crore last year. DLF reported only ₹657 crore in bookings compared with ₹11,425 crore last year. Prestige Estates dropped to ₹6,579 crore from ₹12,126 crore. Analysts said the absence of fresh launches by major players contributed to the sharp decline.
Godrej Properties posted ₹8,651 crore in bookings, up from ₹7,082 crore last year. Lodha recorded ₹4,630 crore, Sobha ₹3,656 crore, Max Estates ₹1,093 crore, Embassy Developments ₹868 crore, and Raymond Realty ₹700 crore. Oberoi Realty, Brigade, Signature Global, Aditya Birla Real Estate, and Eldeco Housing reported lower numbers compared with last year.
Experts expect recovery in Q2 as developers plan new launches. Sales bookings remain a key measure of performance, though revenue recognition depends on project completion. The sector is likely to regain momentum once new projects reach the market.