Consumer spending patterns are reflecting more demand in mid-income and affordable housing
The COVID-19 crisis has forced real estate companies to examine how they do business and that includes sector heavyweight DLF. Vivek Anand, group CFO of DLF, highlights takeaways for the real estate sector from the pandemic, such as diversification, fiscal discipline and capital allocation. He expects consolidation to take place in the real estate market which will benefit bigger companies such as DLF.
The effect on prices is already visible. “Yes, prices are down. In big markets such as Mumbai and the south, the prices have dropped. However, the north has not seen any major correction. In DLF, we have left prices untouched in the luxury and the premium segments. In some of our projects, outside NCR, we have corrected our pricing which is now in line with these markets. This we believe will improve the pace of monetisation,’ says Anand.
In an interview with Vatsala Kamat, the finance chief talks about a whole range of issues that will be of interest to investors in equities as well as in real estate.