Company to focus on high growth markets like NCR and other North Indian states. It plans to accelerate cash flow by selling assets from the finished stock sales.
Ansal Properties feels that demand may see a boost on the back of festive season going forward. However, prices may not see a reduction as input costs are high and supply needs to improve, Dinesh Gupta, COO of Ansal Properties told CNBC-TV18.
Ansal Properties was up almost 8.5 percent today, reacting to a good December operational performance that they have reported. In an interview to CNBC-TV18, Dinesh Gupta, COO of Ansal Properties spoke about the expectations in 2013 and the challenges ahead.
Dinesh Gupta, COO, Ansal Properties explains to CNBC-TV18 that the sales reversal, which impacted the top-line by about Rs 80 crore and the bottom-line by about Rs 70 crore, was caused by forced receipt of 13 acres due to the inability to resolve the disagreement with the purchaser.
Dinesh Gupta, COO of Ansal Properties said that despite the figures showing a sharp fall in area sales, it is not a sign of worry. He explains, the beginning of the year, April to May, is generally slower and sales pick up during the course of the year.
Dinesh Gupta, chief operating officer of Ansal Properties, tells CNBC-TV18 that they have identified 5-6 million square feet across various townships which can be used for large format retail.
Even though property sales halved on a year-on-year basis, Dinesh Gupta, chief operating officer of Ansal Properties is not too worried about meeting their FY12 guidance.
Dinesh Gupta, chief operating officer, Ansal Properties tells CNBC-TV18 that though sales figures are seen going down in Q2 for the company, realisations are up on account of vertical expansion catering to different asset classes.
Dinesh Gupta, chief operating officer of Ansal Properties joins CNBC-TV18 to opine on the way ahead for his company and the sector.
In an interview on CNBC-TV18, Dinesh Gupta the COO of Ansal Properties talks about his guidance for FY12. He outlines how his company plans on reducing its gross debt in this fiscal as well the possible launch of future projects in the country.