DLF, Oberoi Realty, Godrej Properties: Real estate stocks trade in positive territory; here is why

India's economy grew by a stronger-than-expected 7.8% in the April-June quarter (Q1 FY26), its fastest pace in five quarters, before US President Donald Trump imposed tariffs that now cloud the outlook, threatening key exports like textiles.

The gross domestic product (GDP) growth in the first quarter of the ongoing fiscal year was mainly driven by a good showing by the farm sector and also helped by services like trade, hotels, finance and real estate, according to the latest government data released on Friday.

The previous highest pace of growth in the country's GDP was recorded at 8.4% during January-March 2024, as per the data.

"The strong GDP growth of 7.8% demonstrates the resilience and potential of our economy. This positive momentum is encouraging for the real estate sector and will boost investor and consumer confidence," CREDAI National President Shekhar Patel said.

Patel said the industry looks forward to the proposed GST reforms, which will further boost demand.

NAREDCO President G. Hari Babu also said the strong GDP growth augurs well for the real estate sector, as it would boost demand, especially during the upcoming festive season.

Housing sales increased sharply during the 2022-24 calendar years. However, the demand slackened in the first half of 2025 because of a sharp rise in prices post-COVID pandemic.

Q1 FY26 presales review

India’s top listed real estate developers—DLF, Lodha Group, Prestige Estates, and Oberoi Realty, excluding Godrej Properties—reported strong presales growth in the first quarter (Q1) of 2025-26 (FY26), even as earnings showed a mixed trend.

According to Nomura, the top five developers—DLF, Lodha, Prestige, Oberoi, and Godrej—recorded a cumulative 59% year-on-year (Y-o-Y) growth in presales.

“This momentum is not just about volume; it’s about the quality of demand. Premium and luxury projects, particularly in Mumbai, Delhi-National Capital Region (NCR), and Bengaluru, are driving growth," the report added.

DLF and Prestige led the quarter in presales. Prestige’s sales surged 303% YoY, driven by launches in Bengaluru, Chennai, and NCR. The company had missed its 2024-25 launch targets due to approval delays, with some projects carried forward into Q1FY26.

DLF’s performance was driven by its luxury project, DLF Privana North in Gurugram, which clocked sales of ₹11,000 crore.

Lodha’s presales rose 10% YoY, partly hit by two weeks of geopolitical tensions between India and Pakistan.