Top 11 Listed Developers Post 18% Growth in FY26 Pre-Sales: What It Means for Homebuyers
India's largest listed real estate companies closed FY26 on a strong note collectively, even as individual fortunes diverged sharply across regions and price segments. According to ANAROCK Research, which analysed investor presentations, annual reports and regulatory filings, the combined pre-sales revenue of India's top 11 listed real estate developers rose 18 per cent to over Rs 1.48 lakh crore in FY26 from nearly Rs 1.26 lakh crore in FY25. The study covered Godrej Properties, Prestige Estates, DLF, Lodha, Signature Global, Brigade Enterprises, Puravankara, Oberoi Realty, Kolte-Patil, Keystone and Sobha. The growth, however, was far from uniform. ANAROCK Chairman Anuj Puri noted that developers with stronger exposure to premium and luxury housing recorded higher growth, led by Prestige Estates at 76 per cent, followed by Puravankara at 48 per cent, Keystone at 33 per cent and Sobha at 30 per cent, while Godrej Properties and Lodha each posted 16 per cent growth. Prestige Estates' bookings jumped from Rs 17,023 crore in FY25 to Rs 30,024 crore in FY26, underlining how a shift toward high-value homes and new-city entries can supercharge sales momentum. ANAROCK also flagged that geographic diversification has become a key strategy for leading developers, with nearly 68 per cent of Godrej Properties' FY26 pre-sales coming from markets outside MMR, and Prestige generating about 60 per cent of its pre-sales from markets beyond Bengaluru, including Mumbai, Hyderabad and NCR. Against this backdrop, Signature Global's own FY26 numbers tell a more cautious story. The Gurugram-based developer's sales bookings fell 20 per cent to Rs 8,220 crore in FY26, down from a record Rs 10,290 crore in the previous financial year. Volumes bore the brunt of the slowdown: the company sold 2,114 units in FY26, almost half of the 4,130 units sold in FY25, while total sales area for the year contracted sharply. The pressure was most visible in the festive Q3, when sales bookings fell 27 per cent year-on-year to Rs 2,020 crore, prompting the company to concede in a regulatory filing that it will not be able to meet its pre-sales guidance of Rs 12,700 crore, which looked comfortable a few months back, though it would attempt to maintain sales at the same levels as last year. The report places Signature Global squarely among the developers that ANAROCK describes as staying close to home. DLF, Oberoi, Keystone and Signature Global continued to remain highly concentrated in their home markets, indicating a more region-focused growth strategy compared to peers pursuing national expansion. For Signature Global, that has meant an unbroken focus on Gurugram and the wider NCR belt, even as South India-based peers such as Prestige, Sobha, Brigade and Puravankara pushed into Mumbai, Hyderabad, Pune and Chennai. There is a silver lining in the numbers, though. Despite the drop in volume, Signature Global's average sales realisation rose to Rs 15,250 per square foot in FY26, up from Rs 12,457 per square foot in FY25, a shift the company attributes to premiumisation across key projects. Chairman and Managing Director Pradeep Kumar Aggarwal said FY26 reflected the company's focus on disciplined growth and strengthening its financial position, highlighting a significant reduction in net debt and steady operational performance, supported by better realisations and strong collections. The company closed the year with Rs 2,770 crore in cash and cash equivalents, giving it headroom to keep investing even as sales volumes cooled. That premiumisation push is visible on the ground. Signature Global has moved beyond its affordable-housing roots with launches like Sarvam at DXP Estate on the Dwarka Expressway in Sector 37D, and has gone a step further by tying up with Italian luxury brand Tonino Lamborghini to develop a branded residential project named Tonino Lamborghini Residences Gurugram, spread across 12.40 acres in Sector 71, comprising 812 luxury flats, marking the brand's entry into India's residential market. The pivot mirrors the wider sector trend ANAROCK highlighted: multi-city expansion, especially in premium and luxury housing, is emerging as a key growth driver for listed developers, and even NCR-focused players are leaning harder into higher-ticket products to offset softer transaction volumes. For homebuyers, the ANAROCK report is a useful signal of where the market is headed. Sector-wide growth of 18 per cent shows underlying housing demand remains healthy, but the wide gap between the fastest- and slowest-growing developers suggests buyers should look closely at a developer's execution track record, balance sheet strength and project pipeline rather than headline sales numbers alone. Signature Global's improved realisations, reduced debt, and continued launch activity in Gurugram indicate a developer adjusting its strategy for a maturing NCR market, even as it works to regain the growth momentum of its record FY25.
