With the introduction of real estate regulatory authority (RERA) and other steps there is a huge opportunity to also benefit from consolidation that is underway in this sector, Pirojsha Godrej, Executive Chairman of Godrej Properties said.
Godrej Properties had a strong Q2 both in terms of income statement, operations and pre-sales. In an interview with CNBC-TV18, Pirojsha Godrej, Executive Chairman of the company shared his views and outlook on how Q3 is shaping up.
Speaking on National Capital Region (NCR) market, he said that the market is going through challenging times.
Many players in the NCR region overextended themselves during good years, sold huge amounts of inventory but were lacking on the delivery front. That tainted the sector and the minds of customers but it also created an opportunity for a company like Godrej, he said.
We have been very happy with our experience in NCR. First we were primarily in the Gurugram market and did very well there, he said, adding that in the last year entered Noida. Recently they have launched a second project in Noida and that is doing very well so far, he added.
According to him, entry into the Noida market was a big step.
Sales for H1FY18 were encouraging and we do think that these numbers are sustainable in H2FY18, said Godrej.
Expect next couple of decades to be very strong for the real estate sector and there is a big opportunity to consolidate market share, he further mentioned.
With the introduction of real estate regulatory authority (RERA) and other steps there is a huge opportunity to also benefit from consolidation that is underway in this sector, he said.For full interview, watch accompanying video...