Listed real estate majors home in on market-share gains, price hikes

The sector has been able to offset interest rates, input cost pressures

After a better-than-expected performance in a seasonally weak July-September quarter (second quarter, or Q2) in 2022-23 (FY23), the sales momentum in the real estate sector continues to remain resilient. In addition to maintaining growth, listed realty players are gaining market share and raising prices, offsetting some of the pressure from higher interest rates and rises in input costs.

For realty majors, sales growth in Q2FY23 was up about 8 per cent sequentially and 29-31 per cent, compared with the year-ago quarter.

Analyst Rupesh Sankhe of Elara Capital says the quarter demonstrated strong performance, in contrast with a typically soft Q2.