Top-listed real estate developers in India are likely to report mixed pre-sales performance for the fourth quarter of FY26, primarily due to delays in planned launches and a softer demand sentiment influenced by the ongoing conflict in West Asia. Karan Khanna, lead analyst at Ambit Capital, noted that the performance in Q4 will be slower than initially anticipated due to a climate of fear affecting buyer responses. Analysts from Nomura expect growth from Lodha Developers, DLF, and Oberoi Realty, while declines are anticipated for Godrej Properties and Prestige Estates Projects due to a high base from last year. Overall, a slowdown of approximately 6-8% compared to the previous quarter is expected, as homebuyers remain hesitant. Despite this, the pre-sales of top developers are considered resilient, driven by strong demand for premium housing. DLF's performance will be bolstered by the launch of a new ultra-luxury project in Gurugram, while Lodha has launched three projects in Mumbai and Pune. Analysts also expect a healthy uptick in earnings over the next few years, although rising construction costs, which have increased by 10-15%, could compress margins. If the geopolitical situation continues, it may adversely affect cash flows and profitability for developers.