Realty's FY25 goal hinges on H2

Tall task?

- Harsha Jethmalani

Listed realty firms have miles (read: million square feet) to go as far as meeting their ambitious FY25 pre-sales or booking targets are concerned. The September quarter (Q2FY25) results of realty companies were forgetful, thanks mainly to muted launches.

All-India residential sales dropped to 231 million square feet (msf), down 7% both year-on-year and sequentially in Q2FY25, said a Kotak Institutional Equities report on 27 November. This was a fallout of weakness in launches, which stood at 221 msf, down 10% year-on-year and 9% sequentially. Moreover, these launches also included around 37 msf of affordable and mid-income launches by the Delhi Development Authority in September. Adjusted for it, launches were even weaker at around 195 msf, down 22% year-on-year and quarter-on-quarter, said the Kotak report.