Real Estate Companies Flourish Despite Economic Odds

RE-comapniesNew Delhi: The Indian real estate market can be said to be tricky at the best. Amidst speculations of a faltering market, fears (in some cases, expectation) of a property price bubble burst and highly fluctuating market trends, some realty companies have proved that real estate in India has the power to defy all odds. These companies seem to have done well inspite of all adversities and their results have improved in the past quarter.Bangalore based Sobha Developers have recorded a year-on-year Profit After Tax (PAT) increase by 46%. The Vice Chairman and Managing Director of Sobha Developers Limited JC Sharma said, “The Company performed incredibly well during the first quarter of the financial year 2013-14 especially in Bangalore, Chennai and Thrissur. Notwithstanding a slowing economy and sliding rupee, there was a sustained momentum in sales.”The list includes names like Unitech, DLF, Anant Raj and Parsvnath. Unitech posted a 37% year-on-year increase in PAT. By resorting to lower finance costs and an increase in sales, Unitech also recorded a 40% growth in sales.The largest real estate company in India, DLF unfortunately recorded that there had been a 38% fall in net profit. Yet DLF has been also to show a 5% growth in Y-O-Y revenue. The Delhi NCR based Anant Raj Group in the preceding quarter had recorded a loss of Rs 35.41 crore. But in the April-June quarter of 2013 Anant Raj has recorded a profit of Rs 20.15 crore. The Parsvnath group has recorded a 5% rise in the PAT of the first quarter of FY 14. The profit is attributed to the company’s ‘House of Happiness’ scheme which had been implemented on 20 projects developed by the company. The company chairman Pradeep Jain explained the way in which the scheme works, “The scheme was launched as per our strategy to perk up demand in the otherwise slowing industry. Buyers were given the comfort of paying only 25% at the time of booking and rest on possession. Outcome of the scheme has been very encouraging as we received overwhelming responses from the buyers.”займ на карту без отказов круглосуточновзять кредит онлайн

Leave a Reply

Your email address will not be published. Required fields are marked *