Listed realty developers’ sales share rises to 22% in April-December from 6% in FY17: Report
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Of the total sales of 93,140 apartments in the first nine months of 2020-21 across the top 7 cities, top 8 listed players’ share stood at 22% while non-listed leading players’ share was 18%. Non-branded developers accounted for a 60% share, showed data from Anarock Property Consultants.
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These companies together sold 21.23 million sq ft residential area between April and December 2020 despite the first wave of Covid-19, up 2% on year.
The overall housing sales share of the top 8 listed real estate developers is on the rise indicating homebuyers’ increased preference for their projects.
The consumer trend through quarter four was very encouraging. Sales for real estate projects were at lifetime highs, so were collections, which means that the consumer is out there willing to buy a house, willing to make that commitment, says the VC & MD of Indiabulls Housing.
Indiabulls Housing Finance is looking at, he added. Edited excerpts:
The NII number has declined for IB Housing. What has led to the growth in profits and declines in NII? Do you think that provisions are sufficient to give any slight increase as far as gross NPAs are concerned in the coming future?
The strategy that the company adopted last year was one of safety and caution. There were essentially two parts to our strategy last year. One was to concentrate on strengthening the balance sheet to make it even more potent. As we did that, we worked on raising capital. We raised almost Rs 3,800 crore of capital between QIP, some stake sale and convertible bonds. We also continue to use the profitability that we derive through the year to create large provisions as the business pans out. We have provided about 3.7% to the loan book, which adds up to almost three times of what is required under regulatory provisions.
Home sales up 21 per cent in Q1 2021 but new launches down by 40%: Report
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Home sales up 21 per cent in Q1 2021 but new launches down by 40%: ReportBy
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According to a report by real estate data analytic firm PropEquity, Bengaluru, Chennai, Hyderabad, MMR, NCR and Pune are the cities where home sales witnessed a growth in Q1 2021 versus Q1 2020 at 13%, 29%, 16%, 26% and 6% respectively. Only Kolkata witnessed a downfall of 20% in home sales during the same period.
India’s IT capital Bengaluru saw a rise of 13% in home sales in Q1 2021 at 12,263. New launches decreased by 40% at 8,492 units, according to the report.