Quick Note - India real estate round-up - 1QFY27F – Resilient start

Research evidence excerpt

Quick Note - India real estate round-up - 1QFY27F – Resilient start

Global Markets Research

1 June 2026India real estate round-up

EQUITY: PROPERTY

1QFY27F – Resilient start Research Analysts

India Property

Akash Gupta - NFASLQuick Note akash.gupta3@nomura.com

+ 91 22 40374043In1QFY27F,weexpectarelativelystrongerlaunchline-upfromGPL,OberoiandSobha.

PEPLhadonebiglaunchinthebeginningofthequarter.Launchvisibilityforthekey

projectsofDLFappearsrelativelylow,whileABRELandBrigadehaveaslow/nolaunch

pipelinein1QFY27F,respectively.

Overall,1QFY27willseethreesuperluxuryprojectlaunchesinourview,allinNCR:

• 360 North (high probability launch, +INR200mn/ unit, Golf Course Extension Road,

NCR) by Oberoi Realty.

• Samaris (launched, +INR100mn/ unit, Golf Course Road, NCR) by Godrej Properties.

• Crescent (launched, ~INR55mn/ unit, Golf Course Extension Road, NCR) by Sobha.

1QFY27willalsoseetwolargemass-marketprojects,inourview,inHyderabadand

Bangalore:

• Golden Grove Hyderabad (5,000 units total, Hyderabad) by Prestige Estates.

• One World (+3,000 units in 1st phase (~2,000 units to be launched; Bangalore) by

Sobha.

Below, we highlight the key projects by developers:

• GPL (GPL IN, Neutral): Projects to be launched in 1QFY27:

○ Samaris, Sector 53, Golf Course Road, Gurgaon (GDV INR55bn): First phase,

with around 240 units launched (out of 500). Our channel checks indicate resilient

market response.

○ Vanantara, Bannerghatta, Bangalore (GDV INR 25-30bn): Our channel checks

indicate resilient market response.

○ A project in Kukatpally, Hyderabad (GDV INR38bn) may be launched.

• Oberoi (OBER IN, Buy): Sector 58, Gurgaon: RERA filed. We expect RERA

approval around 15 June. Our channel checks indicate project launch timeline around

18-20 June.