Indian real estate pre-sales moderate in Q1 on fewer launches, high base effect

Leading listed real estate developers in India reported a moderation in pre-sales for the April-June quarter (Q1FY27) due to delayed project approvals and a high base from the previous year. DLF's bookings fell 94% to ₹657 crore due to a lack of new launches, while Prestige Estates saw a 46% drop to ₹6,579 crore against a strong Q1FY26. However, Godrej Properties bucked the trend with a 22% year-on-year increase in bookings to ₹8,651 crore, and analysts maintain that underlying housing demand remains healthy.