Top Builders Eye ₹1.5 Lakh Crore Pre-Sales in FY26; DLF, Prestige Lead the Race

India’s biggest listed developers are racing ahead with ambitious pre-sales targets of ₹1.49 lakh crore for FY2026, according to ANAROCK Research. What stands out is that nearly 30% of this target has already been achieved in just the first quarter.

DLF Ltd and Prestige Estates are the front-runners. “DLF has already hit close to 52% of its ₹20,000–22,000 crore pre-sales target in Q1 itself,” said Anuj Puri, Chairman of ANAROCK Group. “Prestige has clocked around 45% of its ₹27,000 crore annual target.”

In FY2025, the top 10 listed developers recorded bookings worth ₹1.20 lakh crore. Their current target reflects a 23% year-on-year growth. Godrej Properties led the last fiscal with pre-sales of ₹29,444 crore, followed by DLF at ₹21,233 crore.

The growth push is also backed by aggressive land banking. In the first half of 2025, developers acquired more than 2,898 acres by entering into 76 deals; this is 1.15 times the total volume of land that was registered as transacted throughout 2024.

Why Investors Are Watching Closer

This is the strongest balance sheet for listed builders entering FY26 in many years. The average net debt-to-equity ratio of developers has come down to as low as 0.05 in FY25, which is a 90% reduction from the levels of FY2017 at 0.55. Most of these players are now practically debt-free, and as such, the risks of stalled or defaulted projects have been reduced significantly.

There is increasing interest from foreign and domestic institutional investors in this financial discipline. Upgrades in ratings, cheaper cost of financing, and normal cash flows provide more room for expansion for most of the developers. A few large players are reported to hold net cash balances, aimed at keeping their leverage below 0.4 in the next three years.

What It Means for Homebuyers

For the buyer, it would give more confidence that the delivery will be done in time, due to the healthy balance sheets. Acquisition spree on land makes it clear that project pipelines in cities are robust. Strong demand but very little distressed sales in the market will probably keep home prices firm in key markets like NCR, Bengaluru, and Mumbai.

Clearly, the top builders in India are entering fiscal year 26 with stronger finances, sharper focus, and clear appetite for growth- putting them in place for another record year.