Q4 Results Preview: Pre-sales to moderate on new launch delays, says Motilal; picks Prestige Estates, Sobha, Godrej Prop
Motilal Oswal Financial Services stated that the realty companies within its coverage universe anticipate reporting pre-sales of ₹25,000 crore in Q4FY24, up 4% YoY but down 11% QoQ. It indicates that pre-sales are probably going to reduce because there aren't many launches, according to the brokerage house.
The brokerage stated that the overall bookings for FY24 are anticipated to reach ₹90,700 crore, up 33% YoY from the initial projection of 15-20% growth. Despite a robust project pipeline, the pace of new launches could not be maintained in Q4 of FY24, even though it had risen up in Q3FY24 as a result of several firms experiencing delays in approval.
Therefore, a small number of companies experienced a consecutive slowdown in reservations. Nonetheless, every firm under its coverage—aside from Sunteck Realty—finished FY24 with a solid performance, with a 20–60% increase in bookings.
Read more on livemint.com
