At the start of each financial year, most listed Indian developers tell investors how much they expect to sell. This 'pre-sales guidance' is one of the most useful documents a homebuyer can read, because it reveals where a developer intends to launch, how hard its sales teams will be pushing, and how confident management is about demand.

For FY27 (April 2026 to March 2027), the aggregate picture is clear. ANAROCK Research, in an August 2026 analysis, estimated that the top 11 listed developers' combined pre-sales could rise about 22.3% to roughly ₹1.82 lakh crore, from about ₹1.49 lakh crore in FY26. Ten of the eleven were expected to grow; DLF was expected to be flat on a high base.

FY26 actuals and FY27 targets, as disclosed

The list below combines company-stated FY26 results and FY27 guidance with ANAROCK's compiled estimates (in ₹ crore; ANAROCK published in ₹ billion). Where a company gave its own number, we cite it.

  • Godrej Properties: FY26 booking value ₹34,171 crore (company release, April 2026); FY27 booking guidance about ₹39,000 crore, with launch guidance of about ₹48,000 crore and delivery guidance of 13.5 million sq ft (per Q1 FY27 results coverage).
  • Prestige Estates: FY26 pre-sales ₹30,024 crore, up 76%; FY27 target of ₹35,000–36,000 crore (15–20% growth), per CMD Irfan Razack in June 2026.
  • Lodha (Macrotech): FY26 pre-sales ₹20,530 crore; FY27 guidance about ₹24,000 crore (17% growth), reaffirmed after Q1 FY27, with management expecting H1 to contribute about 40–42% of the year.
  • DLF: FY26 bookings ₹20,143 crore; FY27 target about ₹20,000 crore, with management prioritising margins and cash flow over volume growth.
  • Sobha: FY26 sales ₹8,136 crore, a record, up 30% (Q4 FY26 operational update); FY27 guidance of roughly 30% growth, backed by about 10 million sq ft of launches (per earnings-call coverage). ANAROCK's estimate is about ₹10,600 crore.
  • Signature Global: FY26 pre-sales ₹8,250 crore (company release); ANAROCK estimates about ₹10,000 crore for FY27, a 22% rise.
  • Brigade Enterprises: FY26 pre-sales ₹7,424 crore, down 5% on approval delays; FY27 target of about ₹9,000 crore (ANAROCK estimate of 22% growth).
  • Puravankara: FY26 sales ₹7,407 crore, a record (per its investor presentation); ANAROCK estimates about ₹11,200 crore for FY27, up 51%.
  • Oberoi Realty: FY26 bookings ₹5,447 crore; ANAROCK estimates about ₹13,000 crore for FY27 (141% growth), driven by its Gurugram entry.
  • Mahindra Lifespaces: FY26 residential pre-sales about ₹3,400 crore; ANAROCK estimates about ₹4,800 crore for FY27, up 41%.

Where the growth is meant to come from

Guidance is only as credible as the launch pipeline behind it, and the pipelines point to a handful of cities. Prestige's chairman named Bengaluru, Mumbai and Delhi-NCR as key markets for a launch pipeline he put at about ₹60,000 crore in June 2026. DLF's remaining medium-term pipeline is about 25 million sq ft with roughly ₹60,215 crore of sales potential, concentrated in Gurugram plus projects in Mumbai and Goa, per its Q1 FY27 disclosures. Sobha's roughly 10 million sq ft of FY27 launches were described as spanning Bengaluru, Gurugram and other markets, per research coverage of its guidance.

Brigade's Q1 FY27 presentation lists about 12 million sq ft of upcoming residential launches: 4.32 million sq ft in Bengaluru, 3.00 million in Chennai, 3.95 million in Hyderabad and 1.09 million in Mysuru. Puravankara's planned pipeline of about 20.48 million sq ft (approximate GDV ₹27,300 crore) is concentrated in Bengaluru and Mumbai.

Reading guidance with a buyer's eye

Guidance is a target, not a promise, and companies revise it. Three signals help separate realistic targets from stretched ones.

  • Q1 run-rate versus full-year target: Lodha booked about ₹4,630 crore in Q1 against a ₹24,000 crore target, and said H1 would be roughly 40–42% of the year, implying a heavier second half. DLF booked ₹657 crore against ₹20,000 crore, so almost all of its year depends on launches still awaiting approval.
  • Launch dependence: when most of a year's target relies on projects not yet launched, approval delays move the whole number. Brigade's FY26 shortfall, attributed to approvals, is a recent example.
  • Collections guidance: Godrej guided ₹24,000 crore of FY27 collections. Collections targets are a useful cross-check because they depend on construction progress, not just marketing.

Leadership tone: confidence, with cost caveats

The tone across management commentary is confident but not euphoric. Prestige's Irfan Razack framed demand around long-term ownership, noting: "The customer is buying a real asset." He also acknowledged rising construction costs linked to raw-material prices after the West Asia conflict, per Outlook Business. Lodha's management cautioned investors against extrapolating a land-sale-heavy Q1. DLF's release emphasised approvals, not demand, as the binding constraint.

What this means for buyers

Property Point's reading: when a developer publicly commits to a growth number, two things tend to follow, and both are relevant to you.

  • Expect a heavy second half of launches. Several developers' guidance implies October 2026 to March 2027 will see significant new supply in Bengaluru and Gurgaon. More launches means more choice, and more competition for your booking.
  • Year-end pressure can create flexibility. A developer tracking behind guidance in Q3 or Q4 has an incentive to close sales. That rarely shows up as a list-price cut at a strong brand, but it can appear as better payment plans, floor-rise waivers or included parking.
  • Strong guidance can also mean firm pricing. A developer comfortably ahead of target, such as one with a sold-out launch, has little reason to negotiate. Judge each project by its own sales velocity.
  • Do not buy because a builder is growing. Guidance reflects corporate strategy; your decision should rest on the specific project's location, approvals, RERA timeline and price relative to resale comparables.

City lens: what FY27 guidance implies for Bengaluru, Gurgaon and Chennai

Bengaluru appears in nearly every southern developer's FY27 plan, and Godrej reported Bengaluru as its largest Q1 FY27 market. Gurgaon is the centre of DLF's pipeline and a key growth market for Godrej, Sobha, Signature Global and Oberoi. Chennai features more modestly, through Brigade's planned 3.0 million sq ft, Puravankara's growing share (17% of its Q1 FY27 sales value, up from 15%) and a new Godrej project on OMR added in Q1 FY27. Buyers in Chennai should expect fewer branded launches than in the other two cities, which can support pricing for well-executed projects.

Developer by developer: what the guidance implies at the sales desk

Translating corporate targets into practical expectations, based on each company's disclosed position after Q1 FY27:

  • Godrej Properties started FY27 with a record ₹8,651 crore quarter against a ₹39,000 crore target, and added projects worth about ₹9,500 crore of expected bookings, nearly half its full-year business-development guidance. Expect a steady flow of launches; pricing on hot launches is likely to stay firm.
  • Prestige booked about ₹6,579 crore in Q1 against ₹35,000–36,000 crore, so most of its year depends on launches later in FY27. Buyers may see significant new Prestige supply in Bengaluru, MMR and NCR in the second half.
  • DLF booked ₹657 crore against about ₹20,000 crore. Its year rests almost entirely on approvals for Gurugram-led launches; existing inventory buyers should not assume the company is under pressure to discount, since DLF has said it prioritises margins over volume.
  • Sobha's record Q1 of ₹3,656 crore puts it well on track for roughly 30% growth, which suggests limited urgency to negotiate on its strongest projects.
  • Brigade booked ₹1,061 crore against a target of about ₹9,000 crore, with roughly 12 million sq ft of launches planned. A back-loaded year can mean more flexibility on existing inventory late in the year.
  • Oberoi Realty's FY27 rests heavily on its Gurugram launch, which ANAROCK's estimate implies could more than double its bookings.

Risks to the FY27 numbers

Guidance is set at the start of the year, and several developers flagged risks that could move it. Buyers should understand these because they also affect project timelines.

  • Approvals: DLF's Q1 FY27 shortfall and Brigade's FY26 shortfall were both attributed to approval delays, not demand.
  • Construction costs: Prestige's chairman acknowledged rising raw-material costs after the West Asia conflict, which can pressure pricing upward.
  • Inventory build-up: ANAROCK reported top-7-city unsold inventory of about 6.31 lakh units in Q3 2026, up about 12% year-on-year, as launches outpaced sales.
  • External demand: ANAROCK's Q1 2026 report noted that some Middle Eastern NRI buyers temporarily deferred purchases amid geopolitical uncertainty.