Real Estate

Mindspace REIT (MREIT) recorded ~0.8msf gross leasing in Q2FY26 (down 60% YoY) as committed occupancies touched 92.1%. Management expect this to increase to 95% by end-FY26E (ex-Pocharam). The company posted Q2FY26 NOI

Godrej Properties (GPL) logged pre-sales of INR85bn (up 64% YoY) and collections of INR41bn (up 2% YoY) in Q2FY26. It launched 12 project/phases during the quarter with GDV of ~INR101bn and added four projects with GDV

Brookfield REIT (BREIT) reported gross leasing of ~0.6msf in Q2FY26, (down 39% YoY), of which 46% came from GCCs. Committed occupancy rose 100bp QoQ to 90% at end-Q2FY26. Q2FY26 NOI rose 5% YoY to INR5.1bn while DPU

EMBREIT’s gross leasing in Q2FY26 fell 30% YoY to 1.5msf, though occupancy rose 200bp QoQ to 90% (by area) and 93% by value. GCCs made up 56% of the overall leasing during the quarter. Q2FY26 NOI increased 15% YoY to

Nexus REIT (NREIT) posted a 14% YoY rise in NOI in Q2FY26 (8% YoY on LTL basis) with a DPU of INR2.2 (up 10% YoY), aided by 16% YoY consumption growth (10% YoY on LTL basis). Management indicated the momentum in

The number of housing units registered in Mumbai plunged 10% YoY/3% MoM to 11,649 units during Oct-25. By value too, registrations contracted 14% YoY/20% MoM to INR173bn on a higher base. It is still the second-highest

Lodha Developers (Lodha) posted Q2FY26 pre-sales of ~INR45.7bn, up 7% YoY and collections of ~INR34.8bn, up 13% YoY. H1FY26 pre-sales at ~INR90bn are up 8% YoY. The company launched 7.8msf projects with GDV of ~INR133bn

DLF’s Q2FY26 pre-sales increased 6.3x YoY to INR43.3bn, led by sell-out of its maiden project in Mumbai (spanning ~0.9msf with a GDV of ~INR23bn). Q2FY26 collections rose 13% YoY to ~INR26.7bn. DLF retained its net-cash

Consumption at Phoenix Mills’ (PML) malls in Q2FY26 expanded 14% YoY (13% YoY in H1FY26) despite ‘asset repositioning’ being underway in four malls (which has affected trading occupancy temporarily). The benefit of such

Brigade Enterprises (BEL) delivered Q2FY26 pre-sales of ~INR20.3bn (up 12% YoY) and collections of INR20bn (up 3% YoY). The company launched three housing projects spanning 2msf in Q2FY26 with GDV of ~INR22bn, and has a

Housing sales (by value) fell 6% YoY in Sep-25, but rose 8% YoY in 9mCY25, led by a 13% YoY jump in Q3CY25. Launches (by value) also decreased 12% YoY in Sep-25 and 6% YoY in Q3CY25 (up 3% YoY in 9mCY25). Unsold

Sunteck Realty (SRL) clocked Q2FY26 pre-sales of INR7bn (up 34% YoY/7% QoQ) and collections of INR3.3bn (up 24% YoY/down 6% QoQ). H1FY26 sales/collections stood at ~INR13.6bn/6.1bn (up 32%/12% YoY). The company

Sobha clocked overall pre-sales of ~INR19bn (up 61% YoY) in Q2FY26 despite the company launching just one project during the quarter. Collections rose 49% YoY to INR20.5bn. H1FY26 pre-sales/collections surged 34%/31%

Oberoi Realty (OBER) reported Q2FY26 pre-sales of INR13bn, down 10% YoY/21% QoQ, due to lack of launches during the quarter. Collections, on the other hand, rose 12% YoY/36% QoQ to ~INR13.5bn. H1FY26

Office space leasing at 15.9msf in Q3CY25 (up 31% YoY) eclipsed completions at 13.6msf (up 44% YoY), pulling down vacancies to 14.2% (down 240bp YoY/60bp QoQ). Demand has surpassed supply for the past six consecutive

Phoenix Mills (PML) posted strong Q2FY26 retail consumption growth of 13% YoY led by its Mumbai, Indore, Ahmedabad, Pune and Bengaluru malls. H1FY26 consumption thus works out to 12% YoY. Gross leasing in office gathered

Signature Global (SGIL) logged pre-sales of INR20.1bn (down 28% YoY/24% QoQ) while collections edged up 2% YoY/1% QoQ to INR9.4bn in Q2FY26. H1FY26 pre-sales/collections fell 21%/12% YoY to ~INR46.5bn/18.7bn. Average

Prestige Estates (PEPL) clocked pre-sales of ~INR60.2bn (up 50% YoY) in Q2FY26 aided by launch of four projects spanning ~3.9msf (down 52% YoY) with GDV of ~INR39.7bn. H1FY26 pre-sales at INR181.4bn (up 2.6x YoY) have

Lodha Developers (Lodha) clocked Q2FY26 pre-sales of INR45.7bn (up 7% YoY) while collections increased 13% YoY to INR34.8bn. H1FY26 pre-sales/collections rose 8%/10% YoY to INR90.2/63.6bn. The company has achieved its

Sobha’s Q2FY26 overall pre-sales came in at ~INR19bn (up 61% YoY/ down 8% QoQ) despite the company launching just one project during the quarter. Realisations rose 8% YoY to INR13,647/sft in Q2FY26. Bengaluru’s share in