India’s top 10 builders met nearly 30% of their FY26 sales goal by quarter one. They aimed for ₹1.49 trillion and achieved ₹44,317 crore, per Anarock. Global trade issues and higher home prices slowed sales early in 2025. Still, developers are on track for their FY26 targets. Last year, these builders had ₹1.21 trillion in sales.
They seek 23% growth this fiscal year. DLF and Prestige are leading sales. Anuj Puri of Anarock noted DLF hit 52% of its ₹20,000–22,000 crore target. Prestige reached 45% of its ₹27,000 crore goal. The real estate market saw slower housing supply. However, investment hit record levels. Experts expect demand to stabilize. Sales may fall short of 2023 numbers. Developers bought 2,898 acres in the first half of 2025. This showed strong sales momentum.
Their debt is also much lower. The average debt-to-equity ratio dropped to 0.05 in FY25. This is down over 90% from its FY17 high. Equity funding and better cash flow helped lower debt. Puri stated this reduction benefits Indian real estate long-term. Low debt and incoming equity allow growth and trust. Some large developers now have more cash than debt. The industry goal is a debt-to-equity ratio below 0.4. More builders should reach net cash status soon.