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Q2 FY27 Realty Scoreboard: 7 Builders Reported, Who Won?

  • by- Grihik
  • Oct 15, 2026
Prestige, Puravankara, Kolte-Patil, Raymond, Max Estates, Keystone and Sobha reported Q2 sales. See who grew fastest and why base effects matter.
Q2 FY27 Realty Scoreboard: 7 Builders Reported, Who Won?

The July-September earnings season is under way, and seven listed developers have now reported. Percentages can mislead, so here are the absolute numbers too.

What did each report?

Developer

Q2 FY27 sales

Change vs a year ago

Prestige

Rs 7,225 crore

+20%

Sobha

Rs 2,206 crore

+16%

Puravankara

Rs 2,136 crore

+62%

Max Estates

about Rs 2,100 crore

from Rs 156 crore

Keystone Realtors

Rs 1,423 crore

+84% (record)

Kolte-Patil

Rs 1,019 crore

+52% (record)

Raymond Realty

Rs 902 crore

+98%

Together that is about Rs 17,000 crore (our sum), with Prestige alone accounting for about 42%.

 

 

How should we read the percentages?

  • Base effect: Max Estates' jump looks huge only because a year ago was tiny

  • Launch-led: Kolte-Patil's record rests on one Pune launch, which was about 60% of its quarter

  • Price-led: Puravankara's realisation rose 32%, so much of its growth is price

  • Luxury-led: Keystone's record came from luxury projects, though its collections fell 19% to Rs 541 crore, so cash lagged bookings

Who has not reported yet?

Larger names such as Godrej Properties, Lodha, DLF and Brigade had not appeared in the reports I reviewed. Their numbers will decide the sector's overall picture.

What does it mean?

The quarter looks healthy but uneven, and premium and launch-driven. The RBI's rate hike on October 7 will test whether that holds in the festive quarter.