Homesfy Realty Ltd., India’s first publicly traded brokerage, has announced its highest annual pre-sales value to date in FY23. According to the nation’s premier technologically advanced real estate brokerage, their pre-sales value for Q4-FY23 grew by 51% over Q3-FY23, totaling 599 Crores, and by 15% over Q4-FY22, despite the challenging global economy and the growing price of loans on the domestic market.
Additionally, Homesfy Realty reported an average unit price for FY23 of ₹91 Lacs, a 7.5% growth from the previous year’s price of ₹84 Lacs. Furthermore, Bangalore’s and Mumbai’s sales volumes rose by 37% and 42%, respectively, in comparison to FY22. Top developers like Lodha, Runwal Group, Prestige, Godrej, and L&T made considerable contributions to the high sales value and volume growth. Bangalore contributed 20%, followed by Mumbai with around 70% of the overall sales volume.
Homesfy Realty’s broker aggregation platform, mymagnet.io, contributed pre-sales value worth ₹222 Crore, up 53% from ₹145 Crore, and reported a 51% growth rate to ₹47.38 Crore as cash flow from collections. The CEO of Homesfy.in & Mymagnet.io, Mr. Ashish Kukreja, expressed his satisfaction with the results, calling them “transformative years for the sector” and stating that the strong demand for quality tier-1 branded homes is expected to continue despite global uncertainty.
According to data from REA India, there was a 22% growth in housing sales in India across eight cities, from 70,630 units in the Q4 of the previous fiscal year to 85,850 units in the last quarter, January-March 2023. New launches surged by 86% to 1,47,780 units, which was the highest for a quarter from 79,530 units, suggesting that the Indian housing market is expanding significantly.
Mr. Kukreja also believes that the Indian government’s infrastructure mega-projects, such as highways and new airports, and significant policy initiatives like “Housing for All,” will stimulate both quantitative and qualitative growth in the real estate market, including Tier 2 and Tier 3 markets, generating substantial returns for investors.
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