‘Listed realty firms buck trend, log steady sales growth in Q3 of FY20’

The report said housing sales revenue of the top nine listed developers during the third quarter of FY 2019-20 stood AT nearly Rs 5,800 crore, increasing by 4 per cent on a quarterly basis and 2 per cent on a year-on-year basis.

“The total area sold by these top developers (excluding DLF) during the festive quarter was nearly 7.1 million square feet against 7.2 million square feet in the preceding quarter, and 7.9 million square feet a year ago,” it said.

“The total area sold was slightly higher during last year’s festive quarter, while the total revenue was more this year. This indicates that the sale of homes other than affordable housing saw a higher overall sales value,” the report said. The listed developers analysed include DLF, Sobha, Puravankara, Prestige Estates, Brigade Enterprises, Mahindra Lifespace Developers, Godrej Properties, Oberoi Realty and Kolte Patil developers, Anarock said.

Further, the collective data trends of the first three quarters of FY 2019-20 indicate that the overall revenue of the top nine developers was close to Rs 16,500 crore as against Rs 15,730 crore during the corresponding period in the previous fiscal.

Meanwhile, changing demographics, proliferating entrepreneurship, digitisation and millennial demand are boosting the demand for various alternate real estate categories, the latest report by CII-Anarock titled ‘Emerging Asset Classes: The Future Looks Promising’ said.

Anuj Puri, chairman, Anarock Group, said, “Co-living, student housing and co-working have rental yields of anywhere between 7-11% - a significant step-up from the 3% national average rental yield of traditional housing formats. Co-living, student housing and senior living are the next evolutionary step in the residential real estate domain, while co-working has evolved from traditional office real estate. The drivers behind this evolution are changing social dynamics, a highly enabled start-up environment, rising interest in higher education by migratory student population, and the need for quality housing solutions for senior citizens.”

While co-working as a segment has flourished in India, there are notable differences in how local and global players address it. As of today, domestic co-working operators have restricted their presence to tier I cities, while global players are also penetrating into tier II and III cities.