After a lull in H1, real estate players are gearing up for a revival with multiple launches in the second half of FY25. Major realty players based in Bengaluru outlined their expansion plans in the post-earnings conference call.

Key players like Prestige Estate Projects, Puravankara, Sobha and Brigade Enterprises are ramping up with new launches. Prestige has confirmed plans to launch projects worth ₹52,000 crore by March next year. This includes projects in Bengaluru, Chennai, Hyderabad, Goa, and Delhi-NCR, totalling 53 million square feet (msft), expected to generate a sales bookings value of ₹52,114 crore.

Large-scale launches

The planned launches for H2 are approximately five times the scale of those in H1 for Prestige. During the first half, Prestige launched a total of 10 msft across five projects. The gross development value (GDV) of these H1 projects stood at ₹10,000 crore, with Q2 launches contributing ₹8,600 crore. This pattern is reflected across the industry, with other realty players also preparing for large-scale launches in the second half.

Mirroring this, Puravankara launched 1.80 msft of developable area in H1, including new phases in existing projects and one new project. For H2, the company looks to launch 12.27 msft of new projects and 3.44 msft in additional phases. This brings the total developable area for H2 to 15.70 msft, with a potential GDV of ₹13,000 crore, marking a substantial ramp-up compared to H1.

Meanwhile, Sobha Limited, which posted a PAT of ₹26.1 crore for Q2FY25, has announced a robust pipeline of 19.29 msft of residential area over 18 projects, with 5.5 msft planned for H2. The company launched 3.53 msft across five projects in H1, shared Jagadish Nangineni, Managing Director, Sobha Ltd, during the conference call.

Likewise, Brigade Enterprises, which launched 4.35 msft in H1, has set its sights on launching 16 msft in H2.

Factors driving growth surge

The surge in H2 launches is largely attributed to delays in approvals and deferrals caused by election-related disruptions that redirected officials to other duties,” explained Irfan Razack, Chairman and Managing Director of Prestige Group, during an investor call.

“I believe after the elections in Maharashtra this November, there should be no further issues. Over the last year, these distractions have impacted timelines, but hopefully, things will now fall into place,” he added.

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