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<ul><li>As a D2C house of brands that’s going public, Honasa is a new IPO theme for investors.</li><li>HUL, Marico etc. are listed peers but it also has a lot in common with new-age companies like high advertisement expenses.</li><li>Honasa’s capex plans to go offline and customer acquisition cost can dent the profitability of the company, which has posted losses in FY23.</li><li>The company is catering to the premium BPC sector which in turn caters to the changing needs of the urban millennials and GenZs. </li></ul>If you are an investor who is tired of the same old consumer companies, there is a new theme in town. A direct-to-consumer or D2C company that houses several brands, Honasa Consumer, has taken the off-beat path of going public. “It can be a new IPO theme. There have been many D2C brands that were acquired by companies like Marico acquiring Plix, Beardo and Emani with The Man Company. This is the only one to go public,” says Preeyam Tolia, senior research analyst of FMCG &amp; Retail at Axis Securities. This ₹1,701 crore IPO, however, is also an acid test for direct to consumer (D2C) companies dreaming to go public. After the mixed reaction that many new-age digital companies like PayTM, Zomato and Nykaa received from the markets, most digital businesses are met with askance. Who are the peers? As a product creator, the company quotes HUL, Marico, Marico etc. as its peers. However, the company which produces its products via contract manufacturing, shares many traits with new-age companies. Honasa is one of the first-movers in the sector, and grew at a breakneck speed of 80% compounded annual growth rate (CAGR) for the last two years. In the crowded online BPC market, it managed to gain a market share of 5.4%, as per Redseer. It’s also in the most alluring businesses of the times. The BPC sector itself is expected to grow at a CAGR of 10% between 2022-27, the consulting firm says. It’s also establishing exclusive brand outlets (EBOs). But, it’s primarily a digital company that’s true to its nature. “We follow and listen to consumers and use the data to create new products. For example, our onion-based hair care products are based on the advice that most people receive as an antidote for hair fall. But people also pointed out that it’s tough to extract and use. That’s how we created it,” explained Varun Alagh, founder and CEO of Honasa Consumer at the company’s IPO press conference. In addition to its flagship, it has expanded its portfolio by incubating three brands and acquiring two more. It now has The Derma Co, Aqualogica, Ayuga, Dr Sheth’s and BBlunt (salons and products) – all catering to the new-age Indians who love tailor-made products. The ad-burn conundrum Honasa had to spend a lot of money to market the uniqueness of its varied products to the right consumers via online and offline channels. Its ad expenses stood at 34.99% of its revenue from operations as of June end. Experts say that it’s normal for a D2C company like itself. “D2C brands require a lot of advertising and promotional spends. They do need to invest in scaling up brands and they have been able to because of PE funds. But in a listed environment, it’s too early to comment on how they will fare,” comments Tolia. A large chunk of the net proceeds raised from the fresh issue will go towards ad expenses. It intends to spend more towards physical presence like more EBOs and BBlunt salons. That’s good for the brand in terms of customer acquisition cost, but in the long run. “As the brand scales, the company is looking to connect consumers offline. A large part of the revenue decline is concentrated in its D2C website and app, where CAC (customer acquisition cost) is considerably high. As consumers shift to the offline mode, CAC needs will also reduce,” said a report by Emkay. According to a Redseer report, most investors into new-age companies are confused about their business models. They’re unsure of which bucket a company falls into, especially when they go online to offline. They’re positioned online but grow offline. These are different models cost and growth-wise, it said enumerating investor concerns on startup listings. Moreso, the company had taken an impairment hit due to its subsidiary Momspresso in FY23, dragging it into losses to the tune of ₹150.9 crore. It had posted a profit of ₹14.4 crore in FY22. Its high expenses makes it tough to get back to the profit path, say analysts. “The company's focus on product development and innovation R&amp;D may impact short-term profitability due to high advertising expenses and capital expenditure,” says Prashanth Tapse, senior VP of research at Mehta Equities. What’s in it for the investors? The IPO is a combination of fresh issue and offer-for-sale (OFS). But the size of the fresh issue is much smaller than the OFS by promoters and other selling shareholders who will take a lion’s share of the intended fundraise of ₹1,701 crore. “New investors should be cautious as the IPO includes fresh share issuance of ₹365 crore and a low promoter stake of 37.41%. Conservative investors may wait and watch, while risk-takers can consider long-term investment for potential growth. However, the IPO appears to be overvalued in the current market conditions, and historical listings with high valuations have often faced post-listing challenges,” opines Tapse. Emkay too has broken its opinion on the company into three different scenarios — all based on how much of its past growth it can keep up with. If it’s able to double its turnover in three years, it’s an attractive investment. If it can keep up with its 20% revenue CAGR, it can be defined as ‘fair’, but if its revenue grows under 10%, then it’s an expensive investment. It all boils down to how far and clearly investors can gaze into the crystal ball.

Honasa Consumer’s D-Street debut an acid test for D2C companies

<ul><li>QIBs bid aggressively for the issue on the last day, but its retail book was just about fully subscribed.</li><li>Company has raised as much as ₹765 crore from the anchor investors ahead of its IPO.</li><li>It plans to use net proceeds from the IPO towards ad expenses, set-up brand, invest in subsidiaries and more.</li></ul>Mamaearth’s parent company, Honasa Consumer’s initial public offer was subscribed 7.6 times the shares on offer – with good interest from institutional investors. Qualified institutional buyers (QIBs) stepped up on the last day and this portion was subscribed 11 times on Thursday. While the non-institutional investor portion was subscribed four times over, the retail book was just about fully subscribed with 1.3 times over the shares on offer. The ₹1,701 crore issue had allocated only 10% of the offer to retail investors, 15% was for non-institutional investors and 75% to qualified institutional buyers (QIBs). Its price band for the issue has been fixed at ₹308-324. Investors can bid for a minimum of 46 shares in multiples thereof. The company raised as much as ₹765 crore from the anchor investors ahead of its IPO. Some of its investors include Abu Dhabi Investment Authority (ADIA), Goldman Sachs Singapore and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Type of investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.5 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.02 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.61 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE An acid test for D2C brands Honasa Consumer is a house of brands in the beauty and personal care space. It has incubated brands like Mamaearth and has also inorganically grown by acquiring BBlunt salons.It has brands like The Derma Co, Dr Sheth’s, Aqualogica and Ayuda in its kitty. The company intends to use net proceeds from the fresh issue towards advertisement expenses, to set-up exclusive brand outlets, investment in its subsidiary, BBlunt, general corporate purposes and unidentified inorganic acquisitions. The company slipped back into losses in FY23, after posting profits in FY22. It was due to an impairment loss it had to take in the last financial year to the tune of ₹154 crore. “This was primarily due to the management decision to scale down the majority of the business verticals of Momspresso, a content platform operating under our subsidiary, Just4Kids Services, and acquired by us in December 2021,” the company said. Its ad expenses stood at 34.99% of its revenue from operations as of June end. Apart from that, it’s in a segment that’s extremely competitive. Some of these competitors are larger and have substantially greater resources than them. That gives them the ability to spend more on advertising and marketing and offer substantial discounts, the company quotes as risk factors in its RHP. “The revenue for the company has grown at a CAGR of 80% over FY21-23 with a volume growth of 102.28%. The company has an adjusted EBITDA of 3.4% as on FY23 with negative working capital on account of asset light model that enables them to invest more on marketing, technology and product innovation,” says a report by Canara Bank Securities that gave it a ‘subscribe for the long-term’ rating.

Honasa Consumer IPO subscribed 7.6x with aggressive QIB push

<ul><li>The stock listed at ₹334 as compared to its issue price of ₹324.</li><li>The grey market was expecting 9% listing gains from the stock.</li><li>Its marketcap is at ₹10,424 crore as per Bombay Stock Exchange. </li></ul>Mamaearth’s parent Honasa Consumer made its D-street debut at a 3% premium on Tuesday morning. The stock listed at ₹334 as compared to its issue price on BSE. The stock gained during the trading session, and closed the debut day with 4% listing gains. The grey market is expecting 9% listing gains from the stock. Analysts pegged its listing price to be anywhere between ₹314-344. Its marketcap is at ₹10,424 crore as per Bombay Stock Exchange. Honasa’s initial public offer was subscribed 7.6 times the shares on offer – with good interest from institutional investors. But its retail book was just about fully subscribed with 1.3 times over the shares on offer. The company raised as much as ₹765 crore from the anchor investors ahead of its IPO. Some of its investors include Abu Dhabi Investment Authority (ADIA), Goldman Sachs Singapore and more. The listing of Honasa will be seen as an acid test for D2C companies in the public markets. On other hand, the listing gains of most IPOs have also tapered out with D-street giving mixed listing gains amidst volatile markets. Here are the listing gains of the last few market debuts. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plaza Wires </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Might face post-listing challenges say analysts A D2C company going public is a new IPO theme, but it’s also an acid test for such businesses in the public markets. Honasa is one of the first-movers in the sector, and grew at a breakneck speed of 80% compounded annual growth rate (CAGR) for the last two years. In the crowded online BPC market, it managed to gain a market share of 5.4%, as per Redseer. In addition to its flagship Mamaearth brand, it expanded its portfolio by incubating three brands and acquiring two more. It now has The Derma Co, Aqualogica, Ayuga, Dr Sheth’s and BBlunt (salons and products) – all catering to the new-age Indians who love tailor-made products. Its ad expenses stood at 34.99% of its revenue from operations as of June end. Experts say that it’s normal for a D2C company like itself. A large chunk of the net proceeds raised from the fresh issue will go towards ad expenses. It intends to spend more towards physical presence like more EBOs and BBlunt salons. “As the brand scales, the company is looking to connect consumers offline. A large part of the revenue decline is concentrated in its D2C website and app, where CAC (customer acquisition cost) is considerably high. As consumers shift to the offline mode, CAC needs will also reduce,” said a report by Emkay. What’s in it for the investors? The IPO is a combination of fresh issue and offer-for-sale (OFS). But the size of the fresh issue is much smaller than the OFS by promoters and other selling shareholders who will take a lion’s share of the intended fundraise of ₹1,701 crore. “New investors should be cautious as the IPO includes fresh share issuance of ₹365 crore and a low promoter stake of 37.41%. Conservative investors may wait and watch, while risk-takers can consider long-term investment for potential growth. However, the IPO appears to be overvalued in the current market conditions, and historical listings with high valuations have often faced post-listing challenges,” opines Prashanth Tapse, senior VP of research at Mehta Equities.

Mamaearth parent, Honasa Consumer gives 4% listing gains on debut day

<ul><li>The issue received very good interest from institutional buyers.</li><li>The IPO is a complete offer for sale where no proceeds will go to the company. </li></ul>The initial public offer (IPO) of consumer goods company <keyword id="15532259" type="General" weightage="20" keywordseo="cello-world" source="Orion">Cello World</keyword> was subscribed almost 39 times the shares on offer, on the last day of the issue. Qualified Institutional Buyers (QIBs) bid aggressively for the issue as this portion was subscribed 108 times as of Wednesday evening. The non-institutional investor (NII) portion was subscribed 24 times. Its retail portion was subscribed thrice over. The price band has been fixed at ₹617 to ₹648, and investors can bid for a minimum of 23 shares and in multiples thereof. It aims to raise as much as ₹1,900 crore via the public issue. The company has raised ₹567 crore from anchor investors ahead of the IPO, on Friday. The IPO is a complete offer for sale wherein no proceeds from it will go to the company. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Type of investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108.57 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.42 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.90 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: BSE Dominant market position say analysts The company manufactures, distributes and sells a wide range of products like drinkware, insulated ware, dinnerware, serveware, and glassware across India. It has products across categories like cleaning supplies, stationery, small kitchen appliances, moulded furniture, and air coolers. “Cello benefits from a distribution advantage due to its large off-take per retailer. Retailers, too, find it advantageous to stock Cello's products due to the comprehensive range, enabling them to fulfill diverse customer demands through a single brand,” says a report by BP Equities. Its main risks include fluctuations in raw material prices like plastic granules and plastic polymer prices etc and their supply chain issues. It also doesn’t own the trademark for its key brands, like ‘Cello’, ‘Unomax’, ‘Kleeno’ and ‘Puro’. Also, one of its competitors also uses the ‘Cello’ brand name for its writing instruments business. The company says that any adverse impact on its brand name due to the actions of competitors may adversely impact its reputation and business. Its margins, profitability depend on maintaining its existing capacity utilisation rate. “Consumer awareness towards safety and quality, shorter replacement cycles, a shift towards the aesthetics of products, loyalty to established brands, increasing disposable income, and nuclearization of families are contributing to the growth of the branded consumerware market in India,” says a report by Geojit, which gives it a 'Subscribe' rating for the issue on a long-term basis. A report by Choice Broking also believes that the company has a dominant position in the market. “There are growth tailwinds for the sector and CWL is well placed to benefit from the same. But due to a highly priced issue, we are assigning a ‘Subscribe with Caution’ rating for the issue,” it adds. SEE ALSO <a href="https://www.businessinsider.in/business/news/wine-vs-tea-indias-consumption-trends-show-a-sharp-divergence/articleshow/104810168.cms">Wine vs Tea: India’s consumption trends show a sharp divergence</a> <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a>

Cello World IPO subscribed 38.9.4x with bumper bids from QIBs

<ul><li>The festive season will give a further fillip to the real estate sector that’s been on an upswing all year, say experts.</li><li>Most developers expect this year’s festive sales to be anywhere between 10-20% higher than last year.</li><li>More large-sized projects were launched by developers to gain from the festive mood. </li></ul>Indian real estate players are witnessing bumper festive season sales, with new launches, offers and more. The auspicious festive season generally sees almost a quarter of annual home sales. And, it seems to have gotten off to a good start. According to <keyword id="6363605" type="General" weightage="20" keywordseo="knight-frank" source="Orion">Knight Frank</keyword>, the property registrations in the first nine days of Navratri were 37% higher than the last year in Mumbai with 4,594 registrations. Experts expect all the top seven metro cities to see a strong sales growth in the season that extends through mid-October to mid-December. The consumer sentiment has already been strong this year. The first nine months of 2023, home sales touched 91% of 2022 annual sales across the top seven cities. This is the highest it has been since 2008, according to JLL. “With sales volumes holding strong so far this year, moderately increasing property price and stable policy interest rate would serve as the key catalysts for the housing market for the remainder of this year,” said Shishir Baijal, CMD of Knight Frank India. Developers already witnessing a surge Real estate developers have been looking forward to the festive season to hit top gear in sales. Ramani Sastri, CMD of Sterling Developers said that they are expecting a significant growth this year. “As we approach the festive season, we are already witnessing a surge in inquiries and we are expecting around 20% growth compared to last year’s festive season,” he added. Lincoln Bennet Rodrigues, chairman &amp; founder of The Bennet &amp; Bernard Company said that there is an over 8-10% increase in the number of properties being purchased or booked. “During this time of the year, 30-40% of our annual sales occur. Needless to say, as a developer, we are looking forward to the upcoming festive days,” he added. To gain from the sentiment, developers have stepped up on new launches too. As per Anarock Research, as many as 711 residential projects comprising approximately 1.16 lakh units were launched across the top seven cities in Q3 2023. In the same period last year, 701 projects were launched comprising 93,290 units. “While the difference between the number of projects launched in both the periods was not very significant, the number of units launched in Q3 2023 was at least 24% more than Q3 2022. Thus, the underlying trend is that this year in Q3 2023, many large-size projects were launched,” Anuj Puri, chairman of Anarock Group told Business Insider India. More launches with schemes The festive quarter is expected to see even more launches. Last year, during the festive quarter of October to December (Q4 2022) as many as 93,000 units were launched across the top seven cities. “This year, we may see at least 10-15% yearly growth which means it will again be above one lakh units,” said Puri. Most developers are also sweetening the pot with schemes, incentives and discounting to push more sales for the festivals. “These promotional offers encompass free <keyword id="666493" type="General" weightage="20" keywordseo="modular-kitchens" source="Orion">modular kitchens</keyword>, furniture, flexible payment plans, GST and stamp duty waivers, as well as giveaways like gold coins, cars, and even international trips,” says Swapnil Anil, executive director &amp; head of advisory at Colliers India. Banks too are upping their ante with Low EMI Schemes, Fixed EMI Schemes, and Attractive Interest Rates and more say experts. The real estate sector has been on an upswing since the pandemic and festive period has re-energised it, with people willing to buy or upgrade their homes. Unlike other sectors, where the post-pandemic boom effects are fading away, the property market is only going from strength to strength. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

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Honasa Consumer’s D-Street debut an acid test for D2C companies

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Honasa Consumer IPO subscribed 7.6x with aggressive QIB push

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Mamaearth parent, Honasa Consumer gives 4% listing gains on debut day

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Cello World IPO subscribed 38.9.4x with bumper bids from QIBs

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With large project launches and offers, realty players get set for a bumper festive season

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