Multi-City Expansion Drives 18% Rise in Listed Realty Developers’ Pre-Sales to Rs 1.48 Lakh Crore

Mumbai, May 28 (TNT): India’s leading listed real estate developers recorded an 18 per cent increase in pre-sales revenue in FY26, driven largely by aggressive expansion into multiple high-growth housing markets beyond their traditional home bases, according to an analysis by ANAROCK Group.

The combined pre-sales revenue of 11 major listed developers rose from ₹1,25,841 crore in FY25 to ₹1,48,158 crore in FY26.

The analysis covered Godrej Properties, Prestige Estates Projects, DLF Limited, Macrotech Developers (Lodha), Signature Global, Brigade Group,Puravankara Limited, Oberoi Realty, Kolte-Patil Developers, Keystone Realtors (Rustomjee) and Sobha Limited.

According to Anuj Puri, Chairman of ANAROCK Group, developers with strong premium and luxury housing portfolios registered the highest growth. Prestige Estates led the pack with a 76 per cent rise in pre-sales revenue, followed by Puravankara at 48 per cent, Keystone (Rustomjee) at 33 per cent, Sobha at 30 per cent, while Godrej Properties and Lodha each posted 16 per cent growth.

Developers Expanding Beyond Home Markets

The report highlighted that major developers are increasingly reducing dependence on their traditional markets and expanding into high-demand residential hubs such as the Mumbai Metropolitan Region (MMR), NCR, Bengaluru, Hyderabad, Pune and Chennai.

Godrej Properties derived nearly 68 per cent of its FY26 pre-sales from markets outside MMR. Similarly, Prestige Estates significantly diversified beyond Bengaluru, with nearly 60 per cent of its pre-sales coming from Mumbai, Hyderabad and NCR.

Lodha (Macrotech) also reduced its dependence on MMR, with almost 32 per cent of FY26 pre-sales generated from Pune and Bengaluru. Puravankara expanded aggressively through redevelopment projects in Mumbai and other key cities, reducing Bengaluru’s share in its overall business.

In contrast, [DLF Limited](https://www.dlf.in?utm_source=chatgpt.com) remained heavily dependent on the NCR market, which contributed nearly 90 per cent of its FY26 pre-sales. [Signature Global](https://www.signatureglobal.in?utm_source=chatgpt.com) continued to operate almost exclusively within NCR.

Geographic Diversification Emerging as Growth Driver

Puri said India’s leading developers are transitioning from regional brands to national residential platforms, enabling them to tap demand across multiple growth corridors while reducing exposure to single-city market cycles.

“Players diversifying their geographic exposure are better positioned to capture demand across multiple high-growth corridors. The data clearly shows that multi-city expansion, particularly in premium and luxury housing, is emerging as the key growth driver for listed developers,” he said.

New Launch Trends Reinforce Strategy

The analysis also found that developers are increasingly spreading new launches across multiple cities.

Only around 32 per cent of Godrej Properties’ FY26 pre-sales came from MMR, down from 55 per cent in FY21. Just 10 per cent of its new residential supply in FY26 was launched in its home market, with the remaining 90 per cent spread across other major cities.

Prestige Estates reduced Bengaluru’s contribution to pre-sales from around 90 per cent in FY21 to 40 per cent in FY26, while only one-third of its new launches during FY26 were in Bengaluru.

Sobha also accelerated expansion beyond Bengaluru, with nearly one-third of its launches and sales coming from other cities. Brigade Enterprises and Puravankara similarly strengthened their presence in Chennai, Hyderabad, Pune and Mumbai.

However, developers such as Oberoi Realty, Keystone Realtors, DLF and Signature Global have largely maintained a region-focused strategy, continuing to derive most of their business from their home markets.

The findings underscore a broader shift in India’s residential real estate sector, where geographic diversification is increasingly becoming a key strategy for sustaining growth and capturing demand across the country’s expanding urban centres.

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