• Pre-sales guidance: The company retained its full-year pre-sales guidance of ₹9,000 crore alongside a launch pipeline target of 12 million square feet with a gross development value of nearly ₹11,900 crore. Management expects sales and project launches to pick up momentum from Q2 onwards after a typically muted Q1.
• Price realizations: Average price realizations rose 20% year-over-year to over ₹14,000 per square foot in Q1, driven by high-end inventory sales. Over the coming years, realizations are expected to normalize to a range of ₹10,000 to ₹11,000 per square foot as new pipeline projects launch.
• Launch deferrals: Around 1.5 million square feet of planned launches were pushed out of Q1 due to regulatory and approval delays linked to local and state government leadership changes. The company expects these deferred launches to materialize across Q2 and Q3.
• Chennai project litigation: Amid ongoing litigation in the Madras High Court regarding approvals for Brigade Morgan Heights, the company has refunded or is completing refunds for roughly 80 bookings worth ₹80–100 crore. Management expressed confidence in its approvals and plans to reopen bookings once legal clarity is achieved.