Track2Realty Brand Ranking 2023-24
The 12th edition of Track2Realty BrandXReport 2023-24 is witness to the fact that the fiscal performance of nearly all the large & listed players is at an all time high. The real estate leadership is hence defined by the consumer experiences and their shared satisfaction along with the aspiration for the respective brands in the business.
Bengaluru-based Prestige Group has emerged as the National Brand Leader for the 2nd consecutive time. As a matter of fact, all the Top 3 National Brands of last fiscal year retain their respective Brand Rank with better Brand Score. Out of the Top 5 National Brands, 5 players are yet again from Bengaluru market. Sobha Limited improves its Brand Rank and jumps up to Number 4 this time around.
Puravankara Limited is another impressive performer of the year and stands as 5th Best National Brand. Godrej Properties has lost its cutting edge in recent times and drops further this year in Brand Rank at Number 6. K Raheja Corp drops down 1 spot while Oberoi Realty scales up to be placed at Number 7. Lodha scales up 1 spot to be at Number 9 this time around. Embassy Group exits the Brand Leadership chart this fiscal year. Adani Realty is among the leading National Brands for the 1st time at Number 10.
EAST INDIA
East India continues to be the least brand conscious market. Ambuja Neotia completes its decade of Brand Leadership in the region. It’s not just size and scale that is defining Brand Leadership of Ambuja Neotia in the region. Siddha Group emerges as the dark horse of East India and scales up as the 2nd Best Brand across East India. Forum Group also jumps ahead as the 3rd Best Brand in the region.
RDB and Unimark scales up 1 spot each to be placed at Number 5 and 6 respectively. South City Projects lose its competitive edge in the market to drop down to Number 4 this time around. Srijan Realty also loses its Brand Competitiveness to drop down to Number 7 this fiscal year. Emami Realty and Hiland Group continue to be at Number 9 and 10 respectively.
WEST INDIA
Lodha emerges as Number 1 Brand of the region. The erstwhile Market Leader, Godrej Properties, loses its Brand Equity to drop down to Number 4. Rustomjee is the only New Entry that re-enters into the Elite List of Top Brands across West India this time around. Oberoi Realty & K Raheja Corp are now Number 2 and 3 respectively. Sunteck Realty, Hiranandani, Adani Realty & Piramal Realty maintain their respective Brand Rank of last fiscal year. Kalpataru is yet again Number 10 Brand in West Zone.
NORTH INDIA
The Market Leader, DLF, continues to maintain its Numero Uno position. Noida-based County Group registers its best ever performance to emerge as the 2nd Best Brand of North India. Ashiana Housing scales up to Number 3 this fiscal year. Signature Global makes an impressive debut at Number 7 for the first time. Mahagun also makes its re-entry as a Top Brand but Godrej Properties slips down to Number 4. Gulshan Homz and Ace Group inter-change their respective Brand Rank at Number 5 and 6 this fiscal year. M3M drops down to Number 8 while Eldeco maintains its Brand Rank at Number 10.
SOUTH INDIA
Prestige, Brigade & Puravankara continue to dominate the Brand Leadership of the region. Sobha has scaled up this time around and now stands at Number 4. Embassy Group and RMZ maintain their respective Brand Rank at Number 6 and 7 yet again. Casa Grande improves its Brand Performance to elevate its standing at Number 8. Total Environment is pushed down to Number 9 this fiscal year. Akshaya Homes is yet again at Number 10 this time.
RESIDENTIAL
Group emerges as the New Brand Leader of Residential Market across India. Sobha Limited bounces back among the Top 2 National Brand in Residential Segment. National Brand Leader Prestige Group stands at Number 3 in Residential Segment. Last year’s Brand Leader, DLF, is pushed down to Number 4 this time around. Puravankara strengthens its positioning at Number 5 with better Brand Score. Oberoi Realty is pushed down at Brand Rank to be at Number 8 now. Hiranandani and Ashiana Housing find their respective Brand Rank at Number 9 and 10 this time around. K Raheja Corp and Piramal Realty lose their Brand Leadership in Residential Segment.
SENIOR HOUSING
Ashiana Housing continues its Brand Leadership in the Segment for the 7 consecutive years. All the Top 6 Top Brands retain their respective Brand Rank this fiscal year again. No new player could emerge as a Reliable Brand in the Segment. Silverglades re-enters into Senior Housing Brand Leadership at Number 7 this time. Rakindo exits the Brand Leadership of Senior Housing. Primus Senior Living drops down 1 spot to be at Number 8 this time around. Covai Property Centre drops to Number 10 this time around, down 2 spots from its erstwhile Brand Rank.
SUPER LUXURY
DLF continues to command the Brand Leadership of Super Luxury. Prestige and Lodha retain their Number 2 and 3 Brand Rank respectively. Sobha Limited, once the Brand Leader of the Segment, elevates its Brand Rank this time around to Number 4. Oberoi Realty elevates its Brand Rank from Number 8 to Number 5 this time around. The Phoenix Mills makes a giant leap in the Segment to emerge as 6th Best Brand of Super Luxury. Godrej Properties exits the Brand Leadership of Super Luxury. Panchshil Realty and County Group make their entry into the elite league of Brand Leadership of Super Luxury. Piramal jumps up from Number 9 to Number 7 this time around. K Raheja Corp drops down from Number 6 to now at Number 8.
OFFICE SPACE
DLF continues to be the Market Leader of Office Spaces. Prestige Group emerges as the 2nd Best Brand in the Space. K Rahja Corp and Embassy Group lose 1 Spot each to be at Number 3 and 4 respectively. RMZ Corp, Nucleus Office Spaces and Brigade Group maintain their respective Brand Rank of last fiscal. The Phoenix Mills enters into the Elite League of Brand Leaders in the Segment. Godrej Properties exits the Brand Leadership this time around. Panchshil Realty improves its Brand Rank 1 level to be at Number 8 this time around. Hiranandani drops 1 spot to be at Number 9 now.
RETAIL SPACE
Phoenix Mills continues to be the Brand Leader in Retail Spaces. DLF & Prestige Group maintain their 2nd and 3rd Brand Rank respectively. Nexus Malls topples Lulu Malls to emerge as 4th Best Brand in the Segment. Brigade Group and Oberoi Realty improve their respective Brand Rank this fiscal year. K Raheja Corp drops down to Number 8 in Brand Leadership this fiscal year. Ambuja Neotia improves its Brand Performance this time around to stand at Number 9. Virtuous Retail drops down from Number 6 to now at Number 10.
HOSPITALITY
Panchshil Realty scales up as the 2nd Best Brand in H0spitality Segment. Oberoi Realty takes a giant leap from Number 9 to now at Number 3. The Phoenix Mills is another Star Performer in the Segment that jumps from Number 6 to now at Number 4. Bennet & Bernard retains its Brand Rank at Number 7 this time around. Ambuja Neotia enters into the Elite league of Brand Leaders in the Segment. K Raheja Corp and Embassy Group lose their Brand Equity in the Segment.
HOME FINANCE
SBI is the Brand Leader of the Segment yet again this time. ICICI Home Finance emerges as the 2ndBest Brand in the Segment. PNB Housing Finance topples Axis Bank at Number 4 this time around. Axis Bank is now at Number 6 of Brand Leadership. Bank of Baroda jumps 2 spots to be at Number 5 this time around. Union Bank of India and Indiabulls Housing Finance jumps up 1 spot each to emerge as 7th & 8th Best Brand respectively in the Segment. Canara Bank sheds 3 Spots to drop at Number 9 this time around. Bank of India retains its 10th Spot of Brand Leadership in the Segment.
METHODOLOGY
Track2Realty BrandXReport 2023-24 has relied on a hybrid model of survey; with 5000 online respondents and an equal number of offline participants. It has been a mix of open-ended and close-ended questionnaires. The surveying method has been one-on-one interviews. Along with the random surveys on ground, we also relied upon the extensive data bank with us for an informed choice of discerning audience.
In our opinion, this was the best possible means to assess the brand perception, and the changing landscape of brand consciousness. In this representative sampling, Track2Realty could get the mood of the nation with a very heterogenous audience profile.
The methodology had been three pronged: In-house research with whatever information available in the public domain. In a business where the large universe of the brands is not listed; even debt not necessarily being on the books; and the developers’ reluctance, denial, and/or non-cooperation in sharing data; the information gap does exist. However, the research team tracked all the developments through available information in the public domain and sources within the sector.
Second stage has been to collate the information and get into online and offline survey across India. The consumers were asked open-ended and close-ended questions to understand their brand consciousness, liking/disliking, acceptance/rejection, and future choices in the property market.
Finally, we also solicited the opinion of independent and neutral experts in our jury board. In all this exercise, more than half the weightage was given to the consumer survey.
Track2Realty is an independent media group managed by a consortium of journalists. Starting as the first e-newspaper in the Indian real estate sector in 2011, the group has today evolved as a think-tank on the sector with specialized research reports and rating & ranking. We are editorially independent and free from commercial bias and/or influenced by investors or shareholders. Our editorial team has no clash of interest in practicing high quality journalism that is free, frank & fearless.
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