IT layoffs cast shadow on home sales in hubs

THE SPORADIC LAYOFFS in information technology (IT) firms seemingly have dampened the residential real estate sentiments in key IT hubs such as Pune, Bengaluru and Hyderabad, pushing unsold inventory up and sales downwards in these cities.

- RAGHAVENDRA KAMATH

Among others, US-based IT company Oracle recently laid off 12,000 staff in the country and more cuts likely to happen, reports said. The country's largest IT services firm Tata Consultancy Services (TCS) reduced its staff strength by 23,460 in FY26.

Unsold inventory of housing units in Bengaluru has gone up 23% in the first quarter of 2026 to 71,611 units, followed by a 12% rise in Pune to 54,439 units and a 3% rise in Hyderabad. The increase in unsold units in these cities is the highest among the top cities in the country, according to Knight Frank India.