Meet the ₹12,000-crore home sales club

Developers across 60 cities sold 413,000 units in 2022-23, compared to 361,000 units the previous year, Liases Foras Real Estate Rating & Research stated.

Developers across 60 cities sold 413,000 units in 2022-23, compared to 361,000 units the previous year, Liases Foras Real Estate Rating & Research stated.

And now, for the first time, four real estate companies—Gurugram-based DLF Ltd, Bengaluru-based Prestige Group, Mumbai-based Godrej Properties Ltd and Macrotech Developers Ltd—clocked bookings of over ₹12,000 crore each in 2022-23. That’s a milestone for the sector.

DLF led the pack with ₹15,058 crore of sales. The four developers surpassed their annual guidance by a wide margin. They were able to sense the demand shift towards the premium segment post the pandemic and launched projects to meet this need.

Prestige Group had sought to achieve ₹12,000 crore as its residential sales guidance for 2022-23. It ended up with sales of ₹12,931 crore during the year, up 25% from the previous year. It sold about 9,900 units, or 27 units every day!

Lodha Malabar, which promises “palatial living", is being developed by Macrotech Developers. The project crossed the ₹1,000 crore sales mark last year and, overall, the company recorded it best ever sales of ₹12,064 crore in 2022-23.