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.
Follow and Connect with us: Twitter, Facebook, Linkedin, Instagram
The regulator determined that the project was ongoing when the real estate law came into…
Due Diligence Before Purchasing Property, Due diligence is an essential step in any real estate…
This follows a SEBI order on November 4 directing Embassy REIT to suspend Aravind Maiya…
Previously, Macrotech also acquired real estate firm Ivanhoe Cambridge's stake in the three entities, aligning…
LEED (Leadership in Energy and Environmental Design) certification has become a prestigious standard in the…
From January to September 2024, QIP issuances across all sectors totaled ₹75,923 crore, with real…
This website uses cookies.