Track2Realty Brand Ranking 2022-23
The 11th annual edition of Track2Realty BrandXReport 2022-23 has been witness to some tectonic shift in the Brand Leadership of Indian real estate. While many of the erstwhile Brand Leaders have lost the cutting edge, some grounded and low-profile brands have established their footprint.
Prestige Group has emerged as the new Brand Leader of Indian real estate. The brand had continuously been closer to the Leadership and among the Top 3 National Brands. Brigade Group makes a giant leap and jumps from Number 5 to now the 2nd Best Brand of the business. DLF is continuously scaling up and now rests as 3rd Best Brand at the National level. Godrej Properties is losing its sheen as a Valuable Brand and slips down to Number 6 from Number 2 this fiscal year. Puravankara is also proving to be the Dark Horse of the National Brand Leadership and emerges from Number 7 to now at Number 5.
The biggest Face Loss at the National Brand Leadership is with the erstwhile undisputed Brand Leader Sobha Limited that drops to Number 6 this time around. Oberoi Realty & Embassy Group retain their respective Brand Rank at Number 8 and 9. Sunteck Realty exits the National Brand Leadership this fiscal year. Lodha Group has bounced back into the Elite List of National Brand Leadership after a gap of 4 years.
EAST INDIA
No new brand could make inroads into the Elite List of Top 10 Brands from East India. Ambuja Neotia continues to be undisputed Brand Leader of Eastern India for the 9th time. South City Projects has also strengthened its position as the 2nd Best Brand in the region. Siddha Group scales up from Number 4 to now at Number 3. Forum Group scales down to Number 4 from Number 3 earlier.
Srijan Realty scales up one spot to be at Number 5 now. RDB Group loses its 5th spot to be at Number 6 this time around. Unimark maintains its 7th Brand Rank yet again this time. PS Group scales up one spot to be 8th Best Brand in the region. Emami drops down to Number 9 and Hiland maintains its 10thspot in the region.
WEST INDIA
Godrej Properties continues to be the Brand Leader in this region of India. K Raheja Corp emerges as the 2nd Best Brand across the West India this fiscal year. Oberoi Realty drops down to Number 3 this time around. Lodha also scales up 1 Spot to be at Number 4 now.
Sunteck Realty drops down to be 5th Best Brand in the region. Hiranandani maintains its previous Brand Rank of Number 6. Adani Realty scales up to be 7th Best Brand this fiscal year. Piramal Realty drops down at Number 8 this time around. L&T Realty scales up at Number 9 while Kalpataru drops down to be at Number 10.
NORTH INDIA
The Top 3 Brands – DLF, Godrej Properties & ABA Corp – are still the Brand Leaders of North Indian realty landscape. Ashiana Housing retains its 4th Spot yet again this time.
ACE Group has scaled up as the 5th Best Brand in the region, while Gulshan Homz drops down to Number 6. M3M India has jumped up from Number 10 to now at Number 7 of Brand Leadership. Central Park has scaled up from Number 9 last fiscal year to now at Number 8. Gaurs enters the Elite List of North Indian Brand Leaders after a gap of 9 years. Eldeco drops down to Number 10 this fiscal year. ATS Group exits the Brand Leadership Chart of North Indian realty.
SOUTH INDIA
The undisputed Brand Leader of South Indian real estate that elevated it to National Brand Leadership – Sobha Limited– has taken a hit like never before. From the Market Leader to now at Number 5, Sobha Limited has been the biggest Brand Disaster of this fiscal year in the region.
Prestige Estates that has always been ‘yet near & yet so far’ has emerged as the Best Brand of the region. Brigade also strengthens its Brand Cutting Edge to emerge as the 2nd Best Realty Brand of South India. Puravankara Limited has been the dark horse of the region that has now scaled up as the 3rd Best Brand across the South Indian property landscape. Godrej Properties also seems to be losing its Brand Equity in the region to drop down at Number 4 this fiscal year. Total Environment scales up to Number 8 after a gap of 2 years. Casagrand scales up to Number 9 this time around, while Akshaya Homes drops down at Number 10.
RESIDENTIAL SEGMENT
The erstwhile undisputed Market Leader Sobha’s fall from grace has been the most notable development of the year; Sobha now stands at Number 6. Godrej Properties also loses its sheen and now stands at Number 4 this year. DLF emerges as the new Brand Leader of the Residential Segment across the country. Prestige Group has scaled up as the 2nd Best Brand in the Segment.
Brigade has improved its Brand Performance quite a bit and now stands at Number 3, as against Number 5 last fiscal year. The dark horse has been Puravankara Limited that has scaled up from Number 9 to be the 5th Best Brand of Residential Real Estate. Oberoi Realty drops down to Number 7 from its previous standing as the 6th Best Brand of Residential Segment. Sunteck Realty drops down from Number 7 to now at Number 9. Piramal Realty retains its position as the 10th Best Brand in the Residential Segment.
AFFORDABLE HOUSING
Provident Housing is the undisputed Brand Leader of Affordable Housing across the country. Sobha Dream Series could not retain its last Brand Rank at Number 1 this time around. From being the Numero Uno in 2018-19, the brand has fallen to Number 7 this fiscal year. Signature Global has emerged as the dark horse in the Segment. The low-profile Signature Global has scaled up from Number 8 to now as the 2nd Best Brand in Affordable Housing.
Prestige Group, Gaurs and Migsun make their entry into the Elite List of Top Affordable Housing for the 1st time. Happinest and Joyville retain their last Brand Rank at Number 3 and 4 respectively. HomeKraft loses its Cutting Edge in the Segment and drops to Number 8 as against Number 6 last time. Sunteck West World also loses 1 Spot to be at Number 6 now. Tata Value Homes and XRBIA exit the Leadership Chart of Affordable Housing this time around.
SUPER LUXURY
After being the Numero Uno for the last 9 consecutive year, Sobha Limited has fallen to Number 5 this fiscal year. DLF has yet again emerged as the Best Luxury Brand after a gap of 9 years. Prestige Group is also a giant performer in Luxury Segment and has scaled up as the 2nd Best Brand in the Segment.
Lodha has yet again bounced back into the league of Best Luxury Brands after a gap of 4 years. Godrej Properties has also lost its cutting edge a bit and drops 1 spot to be at Number 4 this time around. Sunteck Realty drops down to Number 7 from its previous Brand Rank at Number 5. Piramal Realty also drops down from Number 7 to now at Number 9. Phoenix Mills rests at Number 10 this fiscal year. Kalpataru exits the Leadership Chart of Super Luxury Segment this time around.
SENIOR HOUSING
Ashiana Housing retains its Brand Leadership in the segment. Columbia Pacific Communities has taken a giant stride to emerge as the 2nd Best Brand in the Senior Housing Segment. Brigade also scales up as 3rd Most Valuable Brand in the segment.
Antara loses its Brand Recall to be pushed down to 5th position of Senior Housing. Vedanta Senior Living and Adani Realty retain their respective Brand Rank of last fiscal year at Number 5 and 6. Covai Property Centre drops down to Number 8, Paranjape to Number 9 and Rakindo to Number 10. Primus Senior Living has stormed into the Big League of Brand Leadership in the Senior Housing. Silverglades exits the leadership chart of Senior Housing this fiscal year.
OFFICE SPACE
No new Brand could make its entry into the Top 10 List of Office Space this time around. DLF continues to be the Brand Leader in the Segment. K Raheja Corp has scaled up to be the 2nd Best Brand this fiscal year.
Embassy Group has scaled down to Number 3 from its erstwhile Brand Rank at Number 2. RMZ has emerged as the 5th Best Brand in Segment. Nucleus Office Spaces has scaled down to Number 6 this time around. Brigade Group is the Dark Horse in the Segment and has scaled up from Number 9 to now at number 7. Panchshil Realty drops down to Number 9 this fiscal year.
RETAIL SPACE
Phoenix, DLF and Prestige retain their Top 3 Brand Rank respectively. Lulu Group has moved up from Number 5 to now at Number 4. Nexus Malls have stormed into the Big League of Brand Leaders at Number 5.
Virtuous Retail has lost its sheen and dropped from Number 4 to now at Number 6. K Raheja Corp scales down to Number 7 from its previous Brand Rank of Number 6. Brigade Group also scales down to Number 8 from its previous Brand Rank of Number 7. Oberoi Realty and Ambuja Neotia retain their respective Brand Rank of last fiscal year at Number 9 and 10. South City Projects exits the Brand Leadership of Indian retail.
HOSPITALITY
This is the only Segment of Indian Realty where all the Top 10 Brands have retained their last year’s Brand Rank. No new Brand is knocking closely to stake claim as the Top Brand in the Segment. The Brand Score of the Top 10 players has been on the lower side, compared to their last fiscal performance. Prestige Group continues to be the Brand Leader in the segment. Brigade Group has yet again been the 2nd Best Brand in this space.
HOME FINANCE
The market leader thus far, HDFC, loses its Brand Leadership after continuously topping the chart for the last 8 years. SBI has emerged as the Best Brand this fiscal year in Home Finance. ICIC Home Finance has elevated itself from Number 5 to Number 3 this time around. Axis Bank also jumps up 2 spot to be the 4th Best Brand in the Segment.
PNB Housing Finance and Bank of Baroda come back into the Elite List of Top Brands after a gap of 5 years. Canara Bank and Union Bank of India make their respective entry into Top Brands for the first time. Indiabulls drops down from Number 3 to now at Number 9. Bank of India also loses its Cutting Edge from its earlier Rank of Number 7 to be the 10th Best Brand now. LIC Housing Finance, Piramal Capital & Home Finance, L&T Finance Holdings and Home First Finance exit the Brand Leadership of Home Finance this time around.
METHODOLOGY
Track2Realty BrandXReport 2022-23 has yet again 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. In a post-pandemic year when the personal contact points were restricted, 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 has 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 public data 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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