With projects being on track and nil debt will boost results in the coming quarters, believes Oberoi Realty's Vikas Oberoi. He told CNBC-TV18 that the fundamentals of the company continue to remain strong.
The Cabinet cleared controversial Land Acquisition Bill today. In an interview to CNBC-TV18, Vikas Oberoi, chairman of Oberoi Realty says the industry is very clear that unless and until the project is viable, they wouldn‘t get into one. "I am more worried about the bureaucratic red-tapism," he adds.
On the back of a robust order book, Oberoi Realty is optimisticly looking forward to FY13.
Aashiesh Agarwaal, real estate analyst at Edelweiss, said that the developers are likely to face many issues like affordability and cost pressures once new land acquisitions become a lot more expensive after the final bill is rolled out.
Vikas Oberoi, chairman and managing director of Oberoi Realty said that the company’s sales and volume growth have remained intact and were not impacted by the macro economic factors. As far as the property demand in Mumbai is concerned, he said that the demand has remained robust in suburban Mumbai.
In an interview with CNBC-TV18, Vikas Oberoi, chairman and managing director of Oberoi Realty said that the company is currently having the best quarter in the year.