Buying Home In 2025? Real Estate Developers Are Gearing Up For A Launch Surge Despite Mixed Q1 Sales

Indian real estate developers may have delivered mixed pre-sales performances in the first quarter of FY26, but they're sending a clear message to homebuyers: demand is here to stay, and more homes are on the way.

According to a report by Emkay Global, the residential real estate market saw a mixed bag of Q1 operational updates. While companies like Prestige Estates and Keystone Realtors reported standout pre-sales growth of 3x YoY and +75% YoY respectively, others like Lodha (+10%), Sobha (+11%), and Signatureglobal India (-15%) underwhelmed due to a high base effect or fewer new launches.

However, the overall sentiment remains optimistic. “We expect the laggards to ramp up their performances ahead, given a strong set of launches planned in the coming quarters. Demand continues to remain healthy,” the Emkay report noted.

Strong Starters: Prestige and Keystone Set the Pace
Prestige Estates has already achieved ~45% of its FY26 pre-sales guidance in just one quarter, thanks to a slew of new launches backed by robust buyer interest. Keystone Realtors, which has set a 33% YoY growth target for FY26, is also off to a promising start.

This growth is reflective of broader confidence in the sector. “Healthy footfalls at project sites and traction for newly launched projects in the sector give us confidence that developers will largely meet their FY26 pre-sales guidance,” the report added.

New Launches, Big Bets: Developers Ramp Up Business Development
Even as some firms grappled with slower sales, business development (BD) activity soared across the board in Q1FY26.
Lodha added 5 new projects with a Gross Development Value (GDV) of Rs 227 billion, already achieving more than 90% of its full-year BD guidance.
Godrej Properties acquired 5 projects worth Rs 114 billion in GDV.
Keystone surpassed its FY26 BD target by locking in 3 new projects worth Rs 77.3 billion in GDV.
Signatureglobal acquired ~10 acres in Sohna (~0.53 msf of development potential).
Puravankara, in July, was selected to redevelop 8 societies in Mumbai Metropolitan Region with a Rs 21 billion GDV potential.

This accelerated business development is aimed at building a robust launch pipeline, ensuring that developers are well-positioned to meet anticipated demand in H2FY26 and beyond.

Land Deals Surge, Residential Use Dominates
A separate report by Anarock highlights that the value of land deals in H1CY25 reached Rs 309 billion, already 5% higher than all of CY24. The total size of land transacted in the first half of 2025 stood at 2,898 acres, 15% higher than CY24.

Of this, 782 acres are tied to joint development agreements (JDAs), and the development potential of the land is pegged at 233 million square feet. Importantly, 45% of land transacted during CY21–24 is earmarked for residential development — a trend that continues in H1CY25.

“The quantum of acres transacted in H1CY25 stood at 32% of cumulative transactions seen during CY21-24,” the Emkay report said, noting that the surge is driven significantly by Tier 2 and 3 cities, where demand is growing rapidly.

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What This Means for Homebuyers
For consumers, this signals an upcoming wave of fresh housing supply across top cities and emerging markets. While some developers may have had a slow start, the aggressive project additions and land acquisitions point toward a confident and competitive market ahead — one that could bring better pricing, newer configurations, and more location options for homebuyers.
 

Emkay’s top real estate picks for investors are Aditya Birla Real Estate (BUY) and Puravankara (BUY) — names also likely to stay in the spotlight for consumers in the coming quarters.
As the market gears up for a busy second half of the fiscal year, homebuyers can expect a surge of new projects and potentially favorable pricing as developers compete for their attention.