A SERIES OF LAUNCHES LINED UP

Realtors expect 20-40% jump In

festive sales

RAGHAVENDRA KAMATH Mumbai, October 3

PROPERTY DEVELOPERS ARE expecting 20-40% yearly growth in festive sales in the December quarterof FY25.Most of them havelined up a series of launches during the quarter.

The October-December quarter is crucial for developers as it accounts for about 40% of their sales. During the corresponding quarter a year ago, companies in the BSE Realty Index had posted 5.4% growth in net sales.

During Q3, Bengalurubased Prestige Estates Projects is expecting about 40% yearly growth in sales and combined with the upcominglaunches,it expects to more than double its sales over the September quarter, said Irfan Razack, chairman and managing director, Prestige Estates.

“We are expecting a very healthyuptake ofhomesacross cities this festive season. We have received very good response totherecentlaunches in Bengaluru and Mumbai and a certain number of customers are waiting to confirm their purchases,” Razack said.

This festive season is coming on the back of surplus monsoon rains and also with the promise of home loan rate cuts in the near future owing to the rate cuts in the US, he said.

Prestige is planning to launch more than 10 projects across Delhi-NCR, Bengaluru, Hyderabad, Chennai & Goa in

ON EXPANSION MODE

W Prestige expects 40% jump in sales in October-December quarter

B Shriram Properties is expecting 20% growth with four launches

M Sunteck expecting 30-35% growth

B K Raheja Corp Homes expecting 35% growth

this quarter. Some of these will belarge-format projectswithan inventory of over ₹3,000 crore. Viswa Prathap Desu, chief operating officer, residential, Brigade Enterprises,said during the September quarter, buyers heldback theirpurchasesas this was an inauspicious time and they prefer to wait for Dussehra and Deepavali festivals to finalise theirinvestments. “This festive season has already seen increased sales in consumer durables which is a very positive sign. Further, we have seen the home loan rates remain unchanged. All these signs indicate that we could look forward to a positive quarterin terms of sales,” Desu said. Shriram Properties is expecting 20% growth with four launches in Q2, said Vivek Venkateswar, chief sales & marketingofficer,Shriram Properties. Mumbai-based developers

are also equally buoyant about festive sales.

Kamal Khetan, chairman and managing director of Sunteck Realty,said theyare expecting 30-35% growth this year compared to 20-25% growth in the previous season on the back of positive market sentiments. “Positive market sentiment is supporting this momentum, with discerning buyers increasingly seeking premium and high-end properties,'Khetan said.

Ashish Dhami,chief of sales, and marketingat KRaheja Corp Homes, is optimistic about achieving a 35% growth in its revenues over Q2.

Pradeep Aggarwal, founder & chairman at Gurugram-based SignatureGlobalsaid:“Duringthe last financial year, we clocked the pre-salesofX7,270 crore and this yearwearetargetingthepre-sales tothetuneof 10,000 crore.”