India’s residential real estate market continued its strong upward trajectory in Q2FY26, with top-listed developers reporting robust pre-sales, healthy collections, and sustained financial discipline, even as new project launches declined sharply. Pre-sales for the top 23 listed players rose 31% year-on-year to ?4.05 lakh crore, even though launch volumes dropped 61% YoY for the top 15 developers. Despite limited new supply, developers capitalised on resilient sustenance sales. The quarter saw strong contributions supported by marquee launches and strong brand equity. H1FY26 numbers also reflect this momentum: pre-sales for the top 21 players grew 34% YoY to ?8.73 lakh crore.

Developers moderated price hikes to preserve affordability. Average realisations for the top 20 increased 4% YoY, helping push volumes up 18% YoY to 30.65 msf. Collections, a key indicator of financial health, grew 15% YoY to ?266,444 mn in Q2FY26, aided by faster construction progress and steady customer inflows. Several leading developers reported strong double-digit growth.

Land acquisition remained a strategic priority. Developers allocated around 34% of H1FY26 collections to land capex, in line with FY25 levels, underscoring strong balance sheets and confidence in sustained housing demand. The most active investors in land parcels were among the top developers.