Real estate pre-sales to show robust growth in FY24: Motilal Oswal report Business Standard
Real estate pre-sales in India are estimated to grow by 30 per cent year-on-year (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 Rs 252 billion, up 54 per cent Y-o-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.
