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Resilient housing demand continues across key property markets, with Bengaluru maintaining strong momentum, according to a sector update by Antique Stock Broking Limited.
Channel checks by the brokerage indicate that Bengaluru recorded heightened absorption in the fourth quarter (4Q), consistent with trends seen in the second and third quarters. Demand remained strongest in the Rs 15 million-Rs 25 million ticket-size segment, while absorption was relatively muted for homes priced below Rs 15 million and in the premium category above Rs 50 million. Within Bengaluru, North Bengaluru witnessed heightened demand, while South Bengaluru also showed healthy traction. However, the Sarjapur micro-market experienced comparatively slower absorption. New project launches in favourable pricing "sweet spots" received encouraging responses, the report noted. Antique further highlighted that several developers including Godrej Properties, Prestige Estates, Sobha, Brigade Enterprises, Lodha Developers, Aditya Birla Real Estate, and Arvind Smartspaces have significant exposure to the Bengaluru market, with launches and sustenance sales expected to perform well. The brokerage said launches by its coverage companies remain on schedule, with projects introduced in January and February 2026 reporting healthy absorption. Aditya Birla Real Estate (ABREL), after a relatively quiet first half of FY26, saw two successful launches in the third quarter. The company is preparing for multiple launches backed by RERA approvals across key projects in Thane, Gurugram, Pune, and North Bengaluru. Antique expects ABREL's FY26 pre-sales to exceed Rs 85 billion, compared with Rs 80.9 billion in FY25. Sobha reported robust pre-sales of Rs 61 billion in the first nine months of FY26, marking a 37 per cent year-on-year increase. The company has already launched two projects in 4Q and filed RERA for two large NCR developments. Antique expects Sobha's FY26 pre-sales to surpass Rs 85 billion and potentially reach Rs 90 billion. Godrej Properties (GPL) posted pre-sales of Rs 240 billion in 9MFY26, up 25 per cent YoY, with a strong pipeline of launches across Bengaluru, Noida, Pune, and Nagpur. Antique expects GPL to exceed its FY26 guidance of Rs 325 billion and potentially touch Rs 350 billion. Prestige Estates (PEPL) recorded pre-sales of Rs 223 billion in 9MFY26, up 122 per cent YoY, supported by a sharp uptick in launches. Key Bengaluru projects have shown strong sales momentum, and Antique expects PEPL's FY26 pre-sales to comfortably cross Rs 300 billion. Oberoi Realty (OBER) delivered steady pre-sales growth driven largely by sustenance sales, with only one major launch expected in 4QFY26. Antique estimates FY26 pre-sales of Rs 55-60 billion. Arvind Smartspaces (ARVSMART) reported muted performance in 9MFY26, citing approval-related challenges. The company has four launches planned for 4Q, and Antique expects it to approach its FY26 guidance if pending approvals materialise. Brigade Enterprises (BRGD) saw softer pre-sales due to limited launches but has multiple projects lined up in Bengaluru and Hyderabad. Antique noted a possibility of slightly lower FY26 pre-sales compared to last year. Lodha Developers (LODHA), having achieved 70 per cent of its FY26 guidance by 9MFY26, is expected to meet its Rs 210 billion target supported by upcoming launches in Mumbai and Pune. DLF is likely to post FY26 pre-sales in the Rs 210-220 billion range, largely flat year-on-year, aided by a senior living launch and sustenance sales. Sunteck Realty (SRIN), despite recent launches, is projected to report FY26 pre-sales slightly below guidance at around Rs 30 billion. (ANI)
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