Top listed realty developers expand beyond home markets as FY26 pre-sales rise 18% to ₹1.48 lakh crore in FY26: Anarock

India’s residential real estate market is increasingly being driven by developers expanding beyond their traditional home markets to build multi-regional footprints, according to an analysis by Anarock Group. 

The analysis of investor presentations, annual reports and regulatory filings of 11 listed real estate developers showed that combined pre-sales revenue rose 18% year-on-year to ₹1.48 lakh crore in FY26 from ₹1.25 lakh crore in FY25. 

The developers analysed include Godrej Properties , Prestige Estates Projects , DLF ,  Macrotech Developers , Signature Global, Brigade Enterprises ,  Puravankara , Oberoi Realty , Kolte-Patil Developers , Keystone Realtors, and Sobha . 

Anuj Puri, Chairman of Anarock Group, said developers with strong premium and luxury housing portfolios recorded the sharpest growth in pre-sales revenue during FY26. 

“Prestige Estates topped the chart with a 76% annual growth in pre-sales revenue, followed by Puravankara at 48%, Keystone/Rustomjee at 33%, Sobha at 30%, and both Godrej Properties and Lodha at 16%,” Puri said. 

Pan-Indian expansion

The report noted that pan-Indian expansion has emerged as a major strategic focus for leading listed developers, with companies increasingly reducing dependence on their home markets and expanding into high-demand residential markets such as Mumbai Metropolitan Region (MMR), NCR, Bengaluru, Hyderabad, Pune, and Chennai. 

According to the analysis, nearly 68% of Godrej Properties’ FY26 pre-sales came from markets outside MMR while Prestige Estates Projects derived nearly 60% of its pre-sales from Mumbai, Hyderabad, and NCR. 

Similarly, Macrotech Developers continued reducing its dependence on MMR, with nearly 32% of FY26 pre-sales generated from Pune and Bengaluru. Puravankara also expanded aggressively into redevelopment opportunities in Mumbai and other cities. 

In contrast, DLF remained heavily concentrated in NCR, with nearly 90% of FY26 pre-sales originating from the region. Signature Global also continued to remain entirely NCR-focused during the fiscal year. 

“There is strong logic behind India’s leading developers transitioning from regional brands to national residential platforms,” Puri said. 

“Developers 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 indicates that multi-city expansion, particularly in premium and luxury housing, is emerging as a key growth driver for listed developers,” he added. 

The report also highlighted that new supply trends among listed developers increasingly reflect a push towards geographic diversification. 

According to Anarock Group, only around 32% of Godrej Properties’ FY26 pre-sales came from MMR, down from 55% in FY21. Of the company’s total new unit launches across the top seven cities in FY26, only 10% were in MMR, with the remaining 90% spread across other major cities. 

Prestige Estates Projects also significantly reduced its dependence on Bengaluru, with the home market’s contribution to pre-sales declining from around 90 per cent in FY21 to 40% in FY26 as Mumbai, Hyderabad and NCR gained prominence. 

Of Prestige Estates’ total new launches in FY26, only 33% were in Bengaluru while the rest were spread across other key markets. 

Sobha also accelerated its expansion beyond Bengaluru, with nearly one-third of its launches and sales contribution coming from other markets. Brigade Enterprises and Puravankara similarly expanded their presence across Chennai, Hyderabad, Pune, and Mumbai. 

However, DLF, Oberoi Realty, Keystone Realtors, and Signature Global continued to remain largely concentrated in their home markets, indicating a more region-focused growth strategy.