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The Indian real estate sector is riding high on strong sales momentum, according to Morgan Stanley’s latest report. Big players like DLF Limited and Oberoi Realty are set to report impressive pre-sales growth in the third quarter of FY25, thanks to key project launches.

Morgan Stanley expects these companies to achieve a 20-35% growth in sales compared to the previous quarter. DLF’s sales are predicted to grow by 60% year-on-year (YoY) in FY25, outpacing its competitors.

Luxury Projects Drive Sales

DLF’s Dahlias project in Gurugram is making headlines as India’s most expensive residential project. Located on Golf Course Road, it has already sold 150 units worth ₹12,000 crore. Apartments in this project range from 9,500 to 16,000 square feet, with prices starting around ₹100 crore. Dahlias has a massive revenue potential of ₹34,000 crore, which is 2.5 times higher than DLF’s premium Camellias project.

Oberoi Realty’s 360 West in Mumbai’s posh Worli area is another luxury hotspot. The project, popular among celebrities and top business executives, recorded 13 unit sales recently.

Mixed Sales Performance in Q2

DLF’s sales bookings in the second quarter of FY25 dropped to ₹692 crore due to delays in approvals for new launches. However, the company is confident of a strong comeback in Q3 with a solid sales pipeline.

Other major players are also expected to perform well. Macrotech Developers (Lodha) is likely to report pre-sales of ₹4,100 crore, while Godrej Properties could achieve ₹5,300 crore. These figures align with market expectations.

For Prestige Estates, even with assumed sales of ₹10,500 crore in Q4, the overall growth for FY25 may be limited to just 2%.

Conclusion

Morgan Stanley’s report highlights a positive outlook for the real estate sector, driven by strong luxury sales. With projects like DLF Dahlias and Oberoi 360 West leading the charge, the industry is set for a promising 2025. 

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