50% increase in sales of major realty companies in 9 months of FY2019

Due to various policy reforms such as RERA and GST, 10 real estate developers of real estate have registered an increase of 50.7% in sales during April-December 2018.

During the first nine months (April-December) of FY2019, the sales of ten major listed entities in the sample set were 2.24 million sq ft, which recorded an increase of 50.7% compared to the previous year. The rating agency IKra told in a report in its report.

On the contrary, the sale price of the area booked in 9 months of FY19 increased to Rs. 14,461 crore, compared to Rs. 10,980 crore in the same period a year ago, registering an increase of 31.7%.

Within the residential real estate segment, the ongoing process of consolidation remains strong after the implementation of structural reforms such as RERA and GST due to which there has been considerable decline in the market.

Agarwal further said that despite the recession in the financial position of NBFC, the pace of growth continued in the third quarter of FY19. Probably due to large developers, due to recent structural changes and liquidity issues, better performance was seen than smaller companies.

In the financial year 2019 alone, about 89 lakh sq ft sales were recorded, which is the highest level after 20 quarters of FY15.

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