Pradeep Jain Managing Director, Parsvnath Developers
“Yes 2009 will be the year of affordable housing. It will be quite eventful for us and we expect that the present subdued market sentiment turns positive. In the wake of lower inflation and cheaper home loans, we expect the end-user demand to pick up. I hope that funds become easily available for developers, as well.”
About The Company
Parsvnath is at present developing 114 mega projects spanning 211.32 million sq ft in 51 cities and 18 states. The company, through its subsidiary Parsvnath Hotels, is developing eight five-star and five budget hotels. Together, Parsvnath is developing close to 2,040 hotel rooms.
Sanjay Chandra Managing Director, Unitech
“The ongoing economic stimulus measures by the government will continue to improve liquidity for both developers and end-users alike. Even as we will focus more on building affordable houses, the end-user demand will pick up because the interest rates on home loans are expected to fall further."
About The Company
Unitech is the second largest developer in the country in terms of market capitalisation. The developer has projects across all verticals such as residential, retail, commercial and the hotels. The company has also ventured into the telecom business and floated a new company by the name of Unitech Wireless. It recently sold 60 per cent stake in Unitech Wireless to the Norway-based Telenor for more than Rs 6,000 crore.
Rohtas Goel Chairman and Managing Director, Omaxe
“We have already shifted our focus from the premium segment to building affordable residential projects, and will continue to do so in the year 2009. The sops doled out by the government to boost the country's economy will spur the end-user demand for houses."
About The Company
Omaxe has completed more than 120 projects. The developer is coming up with various residential and commercial projects. The company introduced the concept of theme malls such as a Wedding Mall and a House 2 Home Mall. While the former proposes to be a one-stop shop for all wedding requirements, the later meets all the requirements of interiors to convert a house into a home.
J C Sharma Managing Director, Sobha Developers
“The first half of 2009 will be the time when realty in India will see the worst getting over.
Things will come under greater control. Lower interest rates regime and an overall lower inflation will see a splurge in consumer confidence. And at the end on the day, it's this very consumer confidence that drives the sector and the economy."
About The Company
Listed on the Bombay Stock Exchange, Sobha Developers is a Rs 1,200 crore-plus company. In the area of real estate, the company has plans to be present in more than 10 cities across India. While the Sobha brand is present in Bangalore, Mysore, Thrissur, Coimbatore and Pune, the future will see launches of new projects in Chennai, Delhi and Cochin. The company was among the first to announce a cut in its residential property prices last year.
Hemant Shah Chairman, Akruti City
“We can see a great opportunity ahead. We at Akruti are willing to remodel our pricing and projects as per the demand. We developers should change our strategy by understanding the need of the hour."
About The Company
The real estste company is also planning to launch affordable housing in Mumbai’s Thane and Kalyan neighbourhoods. The company gave the much-needed local support to India's largest publicly traded real estate company, DLF, to enter the hyper-competitive Mumbai market. The company is developing an infotech park in collaboration with DLF in Pune and a commercial complex in Andheri.
Kamal Lunawath MD, Arihant Foundations and Housing
“The year 2008 was a very challenging year and that’s the best way to put it. Even though the market may take a few years to see the highs of 2007, still we managed to complete over a million sq ft of residential and commercial space in and around Chennai. The sentiments were bad for most part of 2008. Once the sentiment improves, it will lift the market in the new year. In 2009, we want to get more into affordable housing and launch at least a million sq ft of affordable housing."
About The Company
Chennai-based Arihant Foundations and Housing, listed on the BSE and NSE, is a more than three-decade-old Company.
Madhusudhan Rao Chairman, Lanco Infratech
“2009 might be very similar to 2008. We won't see the kind of project development we saw in mid-2007. We expect commercial, retail and hospitality to be very slow. Residential real estate market might do better depending on the location. Overall, it won't be a very good year. Although the government has announced some incentives for the sector, it might not be sufficient. The situation is far worse. The economy, as a whole, is slowing down. There is a lot of job insecurity among people. This will surely have an impact."
About The Company
Hyderabad-based Lanco Infratech is into power generation, infrastructure, EPC and property development. Its flagship project is the Rs. 5,500 crore-Lanco Hills Township.
Sudhir Reddy Chairman and Managing Director, IVRCL
“In 2009, developers would have to focus on affordable housing. But, for those who have already finished projects or are half-way through, it would take additional investments to reengineer their ventures. This would entail additional cost. Developers also have to decide how much loss they are ready to suffer to get buyers. Interest rates too have to come down further. Then we might see some movement in the sector."
About The Company
Hyderabad-based IVRCL is a strong players in the infrastructure and real estate segments. It operates in the property market through its subsidiary IVR Prime, which posted a turnover of Rs. 595.8 crore F2008. Net income was Rs.175.7 crore.
Harsh Neotia Chairman, Ambuja Realty
“The total constructed space in our country is vastly less compared with the basic requirement of constructed space. Therefore, in the long term context, India will have a fundamental demand to house its people. This will generate demand for schools, colleges, hospitals, hotels, offices and shopping centres. The demand-supply mismatch gives us the confidence to say the macro picture of our realty space is very comfortable and bright.”
About The Company
Ambuja Realty Group, perhaps the largest developer in the East, had its origin in Bengal Ambuja Housing Development (BAHDL), which now is a JV between West Bengal Housing Board and Ambuja Housing and Urban Infrastructure (AHUICL).
Kumar Gera CMD, Gera Developments & CREDAI Chairman
“I am looking forward to 2009 to get government approval for the special residential zones, which is being discussed at various levels, to derive the same benefits of special economic zones to boost real estate sector's affordable housing projects and create thousands of jobs in the country.
About The Company
Gera Developments operates in Pune and Goa. In 2008, the company made a foray into Bangalore where it invested in a 25-acre lake front property and will take up the development after the market conditions improve. In 2008, the company clocked a slowdown in sales only in the last quarter of the year.
SOURCE: The Financial Chronicle (FC-Estate)/1-1-09/P-A
