'Listed realty firms log steady sales growth in Q3FY20'

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SME Times News Bureau | 19 Feb, 2020
Although the real estate sector has been largely going through a slowdown, a report by Anarock Realty Consultants has said that the major real estate companies listed on stock exchanges have recorded a steady growth in their revenue during the October-December quarter of financial year 2019-20.

The report said that housing sales revenue of the top nine listed developers during the third quarter of FY 2019-20 stood nearly Rs 5,800 crore, increasing by 4 per cent on a quarterly basis and 2 per cent on a year-on-year basis.

"The total area sold by these top developers (excluding DLF) during the festive quarter was nearly 7.1 million square feet against 7.2 million square feet in the preceding quarter, and 7.9 million square feet a year ago," it said.

"The total area sold was slightly higher during last year's festive quarter, while the total revenue was more this year. This indicates that the sale of homes other than affordable housing saw a higher overall sales value," said the report.

The listed developers analysed include DLF, Sobha, Puravankara, Prestige Estates, Brigade Enterprises, Mahindra Lifespace Developers, Godrej Properties, Oberoi Realty and Kolte Patil developers, Anarock said.

Further, the collective data trends of the first three quarters of FY 2019-20 indicate that the overall revenue of the top nine developers was close to Rs 16,500 crore as against Rs 15,730 crore during the corresponding period in the previous fiscal.