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Realty pre-sales to clock robust growth in FY24
Business Standard
|December 06, 2023
Real estate pre-sales in India are estimated to grow by 30 per cent year-onyear (Y-o-Y) in 2023-24 (FY24), driven by sustenance sales as launches were subdued for most companies, according to a Motilal Oswal report.
'Sustenance sales' refer to brisk sales of residual inventory from existing projects.
Twelve listed real estate companies registered their second-best quarter ever, with cumulative pre-sales of ₹252 billion, up 54 per cent Yo-Y and 44 per cent quarter-on-quarter.
Ongoing projects contributed 56 per cent to total pre-sales in the first half (H1) of FY24. At the same time, new launches reported a 60 per cent absorption, contributing to 44 per cent of pre-sales, according to Motilal Oswal.
Typically, 'pre-sales' is a term used by developers to indicate that a certain amount of inventory has been booked in a given period, but only a part of the payment has been received.
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