ANAROCK’s analysis of the investor presentations, annual reports, and regulatory filings of the top 11 listed developers reveals that combined pre-sales revenue increased from INR 1,25,841 Cr in FY25 to INR 1,48,158 Cr in FY26, registering an annual growth of 18%. The analysed developers are Godrej Properties, Prestige Estates, DLF, Lodha (Macrotech), Signature Global, Brigade Enterprises, Puravankara, Oberoi Realty, Kolte-Patil, Keystone (Rustomjee) and Sobha Ltd.
Anuj Puri, Chairman – ANAROCK Group, says, “The strongest growth was witnessed among developers with significant premium and luxury housing portfolios. Prestige Estates tops the chart with a sharp 76% annual growth in pre-sales revenue, followed by Puravankara at 48%, Keystone/Rustomjee at 33%, Sobha at 30%, Godrej Properties at 16% and Lodha at 16%.”
Data trends also indicate that pan-India expansion has now become a major strategic focus for India’s top listed developers. These players are rapidly reducing dependence on their ‘home’ markets and expanding into high-demand residential markets across MMR, NCR, Bengaluru, Hyderabad, Pune, and Chennai.
“For instance, nearly 68% of Godrej Properties’ FY26 pre-sales came from markets outside MMR,” says Puri. “Similarly, Prestige Estates has aggressively diversified beyond Bengaluru, with nearly 60% of its FY26 pre-sales contributed by Mumbai, Hyderabad and NCR. Lodha (Macrotech) also continued reducing its dependence on MMR, with nearly 32% of FY26 pre-sales generated from Pune and Bengaluru markets. Puravankara has been expanding aggressively into redevelopment opportunities in Mumbai and other key cities, reducing Bengaluru’s share in its overall business.”
Notably bucking this trend, NCR-focused DLF remains heavily concentrated in its home market, with nearly 90% of FY26 pre-sales originating from NCR itself. Signature Global also continued to remain entirely NCR-centric during FY26.
“There is sound logic involved in India’s leading developers transitioning from regional brands to national residential platforms,” says Anuj Puri. “Players diversifying their geographic exposure are better positioned to capture demand across multiple high-growth corridors – while reducing dependence on single-city market cycles. The data clearly highlights that multi-city expansion, particularly in premium and luxury housing, is emerging as the key growth driver for listed developers.”
| Pre-sales Revenue of Top Listed Realty Developers (INR Cr) | |||
| Company | FY25 | FY26 | % Change |
| Godrej Properties | 29,444 | 34,171 | 16% |
| Prestige Estates | 17,023 | 30,024 | 76% |
| DLF | 21,223 | 20,143 | -5% |
| Lodha (Macrotech) | 17,630 | 20,530 | 16% |
| Signature Global | 10,290 | 8,250 | -20% |
| Brigade Enterprises | 7,847 | 7,424 | -5% |
| Purvankara | 5,006 | 7,407 | 48% |
| Oberoi Realty | 5,281 | 5,447 | 3% |
| Kolte-Patil | 2,791 | 2,605 | -7% |
| Keystone (Rustomjee) | 3,028 | 4,022 | 33% |
| Sobha | 6,278 | 8,135 | 30% |
New Launch Pre-sales Data Confirms Strategy
New supply trends across listed developers indicate a growing push toward geographic diversification as these realty firms seek to tap wider housing demand, reduce dependence on single-city cycles, and establish national-scale residential platforms. The most prominent players adopting this strategy are Godrej Properties, Lodha, Prestige, and Sobha.
According to ANAROCK Research, only around 32% of Godrej Properties’ FY26 pre-sales came from its home market MMR, compared to 55% in FY21, highlighting its aggressive expansion strategy. Out of the total new units supply by Godrej Properties in the top 7 cities in FY 2026, just 10% was in their home city MMR – the remaining 90% was across other top cities.
Prestige Estates too reduced Bengaluru dependence sharply, with home-market pre-sales contribution declining from about 90% in FY21 to just 40% in FY26 as Mumbai, Hyderabad and NCR gained prominence in their new launch pipeline. Out of the total new units supply by Prestige Estate in FY 2026, just 33% was in their home market Bengaluru – the remaining new launches were in other top cities.
Sobha’s expansion beyond Bengaluru also accelerated in FY26, with nearly 1/3rd of its launches and sales contribution coming from other markets. Brigade Enterprises and Puravankara also expanded their footprint across Chennai, Hyderabad, Pune and Mumbai markets.
In contrast, DLF, Oberoi, Keystone and Signature Global continued to remain highly concentrated in their ‘home’ markets, indicating a more region-focused growth strategy compared to peers pursuing national expansion.