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Godrej Properties has managed to retain its brand leadership for the second consecutive time, as per Track2Realty’s BrandXReport 2020-21. This is noteworthy as Godrej has been able to break the jinx of corporate conglomerates in the Indian real estate business, where most of the corporate conglomerates have struggled to enjoy consumer confidence.
The ninth edition of the report noted that most of the brands in the National Brand Leadership witnessed improvements in their consumer confidence index, in the post-COVID world. In the post-pandemic market, where a K-shaped recovery has been reported from across sectors, the larger and organised real estate developers have been gaining market share, brand equity and price premium, at the cost of developers who, till recently, did not feel at a disadvantageous position owing to lesser brand recognition.
Gainers and losers
Sobha Limited was yet again at number two this time but looked far more resilient than last fiscal year. DLF Limited continued its upward journey, to become the fourth-best brand at the national level. Embassy fell to number five in National Brand Leadership this time around, even though its brand score remained the same as last year.
The best performer at the National Brand Leadership was Brigade Group, which leaped from 10th spot last year to number six this time. Oberoi Realty remained at number seven on the National Brand Leadership index. Puravankara also maintained its ranking at number eight, while improving its brand score. K Raheja Corp slipped three places to rank at number nine this fiscal year. Ashiana Housing exited the National Brand Leadership top 10, while Piramal Realty returned at number 10.
None of the national top brands were from the east zone, yet again. Ambuja Neotia continued to be the most bullish brand in the region. This brand was also a close contender in the race for the national top 10 brands.
South City Projects retained its number 2 rank in east India, while Siddha Group scaled up one spot to become the third-best brand in the region. Forum Group dropped to number 4 this fiscal. Hiland Group was back among the top 10 brands in east India yet again, while Shrachi Group exited the brand leadership chart of east India. Srijan Realty, RDB Group, Unimark Group and PS Group retained their last year’s respective brand rankings.
Godrej Properties continues to be the brand leader in the west Zone. Oberoi Realty was back at number 2 after a gap of two years. K Raheja Corp maintained its standing at third, while Sunteck Realty dropped from number 2 to number 4.
Piramal Realty gained significantly, from number 8 to now at number 5. Lodha Group was back at number 6 after a gap of two years. Kalpataru lost its brand equity significantly, to drop from number 5 to now at 7th spot. Hiranandani also dropped to 8th rank from its last position at number 6. L&T Realty & Kanakia Spaces retained their previous ranks at number 9 and 10, respectively. Adani Realty went out of the list of top 10 brands this year.
The top 4 brands in north India have retained their respective rankings. North India was also the only region where all the top 4 brands could improve their brand score in the COVID-hit market. ATS, once ranked joint number 1 brand, exited the list of top 10 brands across north India. Mahagun slipped from number 5 last fiscal year to now at number 10.
Noida-based Gulshan Homz and Gurugram-based Central Park improved their rankings, while Ace Group, which entered the list last year, moved up to number 7 this fiscal. Eldeco returned to the list of top 10 brands of north India at number 8, while M3M retained its position at number 9. Developers like Sobha and Adani also seem set to enter the top 10, moving forward.
Sobha Limited retained its brand leadership for the seventh consecutive year but lost some of its brand score, as did Prestige Group, which retained its second position. Embassy scaled down two spots in the region to be at number 5 now, while Brigade proved to be a resilient brand amid the pandemic, to scale up to number 3. Puravankara improved its position by two places, to rank at number 4 this year.
Godrej Properties scaled down one spot, moving to number 6 this year, while Akshaya scaled up one spot to number 8. Total Environment dropped down a level to rank at number 9 this fiscal year.
Sobha Limited continued to be the brand leader in the residential segment, even though it lost its brand score this time. All the top 4 brands in the residential segment – Sobha, Godrej, Prestige and Oberoi – retained their respective ranking from last year, with slightly lesser brand scores.
Brigade Group moved up, becoming the fifth-best brand and DLF Limited was pushed down to number 6 in the segment. Puravankara and Sunteck Realty retained their previous year’s brand ranks. While Hiranandani exited the list of brand leaders in the residential segment, K Raheja Corp returned at number 9. Ashiana Housing too exited the list of top residential brands this fiscal year, while Piramal Realty returned at number 10.
The top three brands in the super luxury segment – Sobha, Prestige and DLF – retained their respective brand leadership. No new brand could enter into top 10. Sobha Limited retained its leadership position for the sixth consecutive time. Godrej Properties made giant leap from number 7 to now rank as the fourth-best luxury brand. Oberoi Realty scaled up one spot to number 5, while Sunteck Realty slipped from number 4 last year to number 6 this time around.
K Raheja Corp also dropped to number 7 from its previous rank at number 5. The Phoenix Mills jumped two spots to number 8 this fiscal year. Kalpataru and Embassy lost one spot each, to rank at number 9 and 10, respectively.
Senior housing is fast emerging as a key segment, post-COVID-19. Ashiana Housing maintained its brand leadership in the segment, owing to its first movers’ advantage. Antara retained its number 2 rank and Brigade Group scaled up to third place.
Columbia Pacific Communities enters into the list of top brands in senior housing with an impressive performance at number 4. Covai Property Center lost three spots to rank at number 5 now. Paranjape Schemes lost one spot to finish at number 6 this fiscal year. Vedanta Senior living retained its place at number 7 and Silverglades dropped from number 6 last year to number 8, now. Adani Realty was at number 9 and Rakindo dropped to number 10. The Golden Estate exited the list of top 10 brands in senior housing.
It has been one of the worst years for office spaces, following the COVID-19 pandemic. However, the success of REITs indicates that there could be tough competition in this space ahead. DLF was back as the best brand in the office space segment, after a gap of four years. Embassy was at number 2, after four years of brand leadership.
K Raheja Corp, Prestige Group and RMZ Corp retained their respective rank at number 3, 4 and 5, respectively. Panchshil Realty entered the list of top office space brands at number 6 this fiscal year. Hiranandani dropped one level to be at number 7 now.
Brigade Group retains its spot at number 8, while Godrej Properties dropped two places to number 9 this year. Salarpuria Sattva retained its brand rank at number 10. Oberoi Realty exited the list of top brands in the office space segment.
The top three brands in the retail segment continued to have their respective market dominance in the most challenging year for Indian retail. Phoenix Market City continued to be the market leader, followed by DLF Ltd and Prestige Group.
K Raheja Corp, Virtuous Retail and Lulu Group also maintained their respective brand rankings. Brigade Group moved up from number 9 to now at number 7. South City and Oberoi Realty lost one spot each, to rank at number 8 and 9, respectively. Ambuja Neotia entered into the list of top retail brands. Ambience Group exited the list. This was the first time that two retail brands from east India entered the list. Most of the top retail brands were from south, west and east India. Delhi-NCR, once referred to as the ‘mall capital of India’, had only one brand in the top 10 list.
Although it was an ordinary year for the hospitality sector, yet brand performance in terms of top-of-the-mind recall was not static. Prestige Group continues its market dominance as brand leader in the hospitality segment, even though its brand score took a hit. Embassy Group and Brigade Group scaled up one spot each, to rank as the second and third best brand in the segment. K Raheja Corp dropped from number 2 position to number 4. Panchshil Realty scaled up one spot to number 5, while Phoenix Mills jumped two places to number 6 this time around.
Oberoi Realty slipped down two spots to number 7 and ABIL Group dropped a place to number 8. Salarpuria Sattva was at number 9, improving by one spot and Eros Group exited the brand leadership list in the hospitality segment. Ambuja Neotia entered the elite list for the first time this year.
Housing finance would be a segment to watch out for, post-COVID-19, as the lenders’ increasing focus on asset quality and borrowers’ LTV (loan to value) remain areas of concern. The top four brands in housing finance maintained their respective positions. Indiabulls Housing Finance improved it rank by one spot, to be at Number 5. Bank of India lost one spot to number 6, while LIC Housing Finance jumped three places, to emerge as the seventh best brand in the segment. Piramal Capital & Housing Finance was back among the top after a gap of a year. Bank of Baroda scaled down from number 8 to number 9 this time around. Tata Capital was the biggest loser, dropping three places to number 10. IDBI Home Finance exited the chart. Overall, there were three public sector and seven private sector players in the list.
See also: Best banks for home loans in 2021
This was the first time that the Track2Realty BrandXReport completely relied upon online surveys, to assess the perception of the brands in a pandemic-hit market. Consequently, the sample size that was once 10,000 was also reduced to 4,000 participants. Backed with the in-house research of available data in the public domain, Track2Realty then undertook an extensive online poll of respondents from across the country. The consumers were asked many open-ended and close-ended questions about their experiences and perception about the sector and the respective companies. The focus was, to gauge the post-pandemic mood of the consumers and trust index of the companies. The last step of the three-pronged methodology, involved taking the opinion of neutral experts in our jury board. In all this exercise more than half the weightage was given to the consumer survey.
Godrej Properties named the new leader in Track2Realty’s BrandXReport 2019-20
According to Track2Realty’s BrandXReport 2019-20, Godrej Properties, which dethroned Sobha Limited after five years, looks most resilient and in far better shape than its peers in the post-Coronavirus market
August 24, 2020: In a first, real estate major Godrej Properties has been ranked as the national brand leader in Indian real estate in the eighth edition of the Track2Realty BrandXReport 2019-20. Godrej has proved its market leadership, at a time when the leading names in the industry have taken a severe beating this fiscal year that ended with the global Coronavirus pandemic. According to the report, this is one brand that looks most resilient and in far better shape than its peer brands in the post-Coronavirus market.
It is not just the fiscal performance or the stock market resilience that have elevated Godrej Properties to the coveted brand leadership across India. Godrej’s performance has improved on various parameters, leading to better consumer experience and consumer connect. In an uncertain market, Godrej Properties looks most promising to meet the delivery commitments, as well. Godrej’s presence in other businesses, has also helped its real estate brand.
Gainers and losers
Sobha Limited lost its brand leadership position after five consecutive years. The brand, nevertheless, is still miles ahead of many other real estate companies, not only on its home turf of south India but also overall, in terms of residential developments and luxury housing. It would be interesting to see whether Sobha Limited can bounce back as the national leader or if the challenges ahead would take the sheen out of a brand that was once the benchmark of Indian housing quality.
One brand that has surprised many with its steady march to the national brand leadership is Ashiana Housing, which entered the national brand leadership ranking for the first time this year. After 2012-13, this was the first time that more than one north Indian brand was in the top-10 list of brand leadership. DLF Limited improved its brand positioning significantly this time around. Piramal Realty dropped out of the top 10 list of National Brand Leadership. Bengaluru-based Brigade Group lost significant ranking this year.
Overall, the National Brand Leadership ranking was yet again dominated by Bengaluru with five developers in the top 10.
Kolkata witnessed two extreme ends of price points, from luxury to affordable, with oversupply in both the segments. However, none of the segments seemed to attract buyers, indicating a clear demand and supply mismatch in this region. Brand trust is increasingly becoming an issue in the region with many projects stuck up for reasons ranging from fiscal to execution challenges.
Ambuja Neotia continues to be the brand leader in the region. Siddha Group was the most bullish brand and is now ranked on number 4. Once a promising brand, Srijan Realty witnessed a downward movement. None of the corporate groups in the real estate business could establish themselves as trustworthy brands in the region. The east zone is the only region where national leader Godrej Properties is not in the list of top 10 brands.
While Godrej Properties was the leader in the west zone, the brand performer of the region was Sunteck Realty that jumped from number 5 to the second-best brand in the region now. Sunteck Realty pushed down K Raheja Corp by one spot on the Band Leadership chart.
Kalpataru Real Estate moved up by three spots to number 5. Kanakia Spaces was the only new entrant in the elite list of brand leaders of the west zone this fiscal year, returning after a gap of two years. Hiranandani Group moved up one spot to number 6, while Adani Realty dropped to number 7 this fiscal year. Mahindra Lifespaces was pushed out of the leadership chart in the region. Piramal Realty dropped from number 4 to number 8, in terms of brand trustworthiness, while L&T Realty which entered the list last year, has retained its position.
In north India, some of the large players by market size/fiscal topline failed to find a place in leadership rankings, due to poor consumer confidence, while new players seemed to be rising fast. DLF continued to command the leadership of north India and improved its standing in the region. ABA Corp jumped from number 7 to now at number 4. It also had a higher consumer confidence score than its peers in the region.
Godrej Properties was the second best brand, yet again. Ashiana Housing maintained its standing at third position, while M3M was back among the leaders in the region. ATS continued to slide, from being number 1 in 2016-17 to number 6 now. Mahagun India and Gulshan Homz also slid, while Eldeco and Adani exited the brand leadership chart in the region.
Sobha Limited retained its brand leadership for the sixth consecutive year. Despite losing its national tag, Sobha continued to dominate the public perception in the south. Prestige Group was back at the second spot, while the Embassy Group lost one spot, to rank at number 3 this time around. Akshaya Homes entered the chart after a gap of six years and was the only Chennai-based brand from south India. Century Real Estate exited the leadership chart in the region. Total Environment strengthened its leadership position this year, while Salarpuria Sattva lost significant ground in its brand competitiveness. Brigade, Godrej, RMZ and Puravankara retained their brand rankings from the previous year.
Sobha Limited continued to be the leader in the residential segment. Godrej Properties emerged as the second-best in the segment. Prestige Group was pushed down to third-best in the residential segment across India. Ashiana Housing and Sunteck Realty were the new entrants in the segment, while the Hiranandani Group returned among the top-10. Oberoi Realty, DLF, Brigade and Puravankara retained their previous year’s brand standing.
Super luxury segment
Sobha Limited retained its position as best super luxury brand for the fifth consecutive time. Prestige Group took the second spot while DLF was placed third. Godrej Properties scaled up to its best ever performance as the seventh-best luxury developer this fiscal year. Kalpataru Realty made a comeback into this segment, while Sunteck Realty also returned after a gap of three years. Oberoi Realty retained its position at number 6 for the third year. The only new entry into this segment was Phoenix Group. Embassy Group dropped from the second position last fiscal year to number 9 and K Raheja Corp went from third spot to fifth, this year.
Office space segment
Embassy continued to be the leader in the segment amidst fierce competition, with many REIT listings in the pipeline and co-working gathering momentum. DLF was at number 2 and K Raheja Corp, which finalised plans for a REIT listing, was at number 3 in the segment. Brigade Group improved its rank to number 8, while Oberoi Realty was pushed to the ninth spot this fiscal year. Prestige Group, RMZ Corp, Godrej Properties and Salarpuria Sattva retained their rankings from the previous year.
Phoenix Market City continued to be the market leader in the retail segment this year, as well. Virtuous Retail made a big entry into the list at number 5. Ambience Group also returned to the list of top brands this year. Lulu Group moved up from number 8 to number 6 in the segment, while Prestige Group moved up to number 3, pushing K Raheja Corp to number 4. Oberoi Realty dropped to number 8 from its previous position as number 5, while Brigade Group fell from number 6 to number 9. South City Mall retained its ranking at Number 7.
Prestige Group grabbed the top spot, while K Raheja Corp emerged as the second-best brand in the segment. A brand leader for the last two years, Embassy Group fell to number 3 this fiscal year. Brigade Group moved up to number 4, while Oberoi Realty dropped to number 5. Eros Group was the only new entrant at number 9. Salarpuria Sattva lost its brand equity in the segment to be at number 10 this time around. Panchshil Realty, ABIL Group and The Phoenix Mills retained their rank from last fiscal.
Senior housing segment
Ashiana Housing continued to be leader in the segment for the fourth consecutive year. Two new brands, Vedanta Senior Living (at number 7) and The Golden Estate (at number 8), made their entry into the elite list of top 10 brands in the segment. Covai Property Center moved up from number 6 to number 3 this year. Silverglades moved up from number 8 to number 6. Brigade Group maintained its position at number 4 for the last four years. Paranjape Schemes dropped to number 5, while Rakindo dropped to number 9 and Adani Realty dropped to number 10.
HDFC continues to be the leader in the home finance segment across India. Indiabulls Housing Finance dropped from number 2 to number 6. SBI Home Finance was the biggest gainer, leaping from number 7 last fiscal to number 2 now. Bank of India also rose to its best-ever position at number 5. ICICI Home Finance emerged as the third-best brand in the segment after a gap of three years. Axis Bank slipped to number 4, while Tata Capital slipped to number 7. Bank of Baroda entered the list at number 8. In this segment, players were rated with a new parameter of asset quality, in the wake of rising defaults.
The Track2Realty – BrandXReport used a hybrid methodology this time around, owing to the COVID-19 spread during the course of the consumer survey. Backed with the in-house research of available data in the public domain, Track2Realty then undertook a 20-city consumer survey and switched to online surveys, following the national lockdown. The consumers were asked many open-ended and close-ended questions about their experiences and perception about the sector and the respective companies. Track2Realty also changed the questionnaire with the outbreak of the pandemic, to assess the brand resilience during the crisis. The last step of the three-pronged methodology, involved taking the opinion of neutral experts in our jury board. In all this exercise more than half the weightage was given to the consumer survey.
Which is the most trusted real estate brand in India?
Godrej Properties has emerged as the brand leader in Indian real estate, according to the Track2Realty BrandXReport 2020-21.
Who is the brand leader in India’s housing market?
Sobha Limited was the most trusted brand in India’s residential segment and super-luxury segment, in 2020-21, as per the BrandXReport by Track2Realty.
Which is the top lender in India for home loans?
HDFC was the brand leader in the home finance segment across India, in Track2Realty’s BrandXReport 2020-21.