With accumulative revenue bookings of approx. Rs.14,883 large integer in H1 FY22 against Rs.9,483 metallic element in H1 FY21, listed players performed well despite the 2nd COVID-19 wave.
Continued to reap dividends from the post-pandemic surge in demand for branded homes, the highest 9 stock exchange-listed developers raked in Rs 14,883 crore of revenue bookings in H1 FY22 – pointy dealing from Rs 9,483 crore within the same amount of the previous fiscal.
As the second COVID-19 wave wreaked economic mayhem throughout Q1FY 22, these players effectively clocked a 57% annual growth in their overall residential booking revenues in H1 FY22.
Commenting on the same, Anuj Puri, Chairman, ANAROCK Group, said, “In terms of area, these nine listed developers oversubscribed approx. 18.46 mn sq. ft. of the housing area in H1 FY22, once more in exceptional distinction to approx. 13.28 mn sq. ft. within the corresponding amount a year ago.
Amounting to associate annual growth of 39%, the overall territory sold in H1 FY22 has conjointly surpassed that of the corresponding pre-COVID-19 H1 period (FY20 period), once approx. 17.2 Mn sq. ft. area sold.
ANAROCK has collated the information as per capitalist shows of every one of the companies. Driven by homebuyers’ increasing preference for branded homes, the listed developers have another time outperformed the market.
The continued low rate of interest regime and homebuyers’ need to avoid construction-related risks also compete for a role. “Less than a decade ago, a speculator-driven housing market saw unnatural demand chasing the incorrect reasonably offer.
Today, these players are unleashing right-priced, right-sized supply geared toward organic end-user demand. This can be the results of intensive research before pressing the ‘commit’ button and is one of all the foremost notable options of the reinvented Indian housing market,” Puri said.
Quarterly Trends obviously throughout H1 FY22, the residential market’s second-quarter performance was considerably higher than the first.
For the Indian economy at large, the second pandemic wave in a Gregorian calendar month and May of this twelvemonth was way more devastating than the primary wave in 2020 that had a significant wetting impact on residential activity.
Nevertheless, in terms of activity, the second wave quarter fared slightly higher than the first. Quarterly Performance – Key Highlights: # the highest nine listed players together oversubscribed homes price office 10,669 metallic element in Q2 of FY22 (July to September).
# As for the quarter of FY22 (when the second pandemic wave was at its worst), the highest nine listed players sold approx.
# whereas, within the half-moon of FY22, the overall area sold by these top 9 developers saw a yearly drop of 15% compared to Q1 FY21, their booking revenue was 10% over the preceding amount – approx.
4.99 mn sq. ft., whereas a year agone in Q1 FY21, the realm sold was additional at 5.9 mn sq. ft. Office 4,214 metallic elements in Q1 FY22 against INR 3,838 Cr in Q1 FY21. This might indicate higher sales within the middle to premium categories.