The Company will be one of the beneficiaries of the goods and services tax (GST) transition, said JC Sharma, Vice Chairman & MD, Sobha.
In an interview to CNBC-TV18, JC Sharma, Vice Chairman and MD, Sobha gave an update as to how business is panning out in Q2 so far and to share with us what real estate demand is looking like and how prices are panning out.
The man known for spotting small, midcap stocks at the right time says more than two dozen themes are yet to be explored.
In an interview to CNBC-TV18, JC Sharma, VC & MD of Sobha spoke about the latest happenings in his company and sector.
JC Sharma, Vice Chairman & MD, Sobha said the number of enquiries and site visits have remained stable even post demonetisation but people have deferred their bookings and decisions because of uncertainty.
Despite signs of slowdown in Delhi-NCR's realty space, JC Sharma, the VC & MD of Sobha Developers said that the demand seems to be picking up.
With declining interest rates, overall volumes in the realty sector will increase, making the second half of the year better for the sector, says JC Sharma, VC and MD of Sobha Developers Limited.
Adhidev Chattopadhyay, Real Estate Analyst at Elara Capital likes Oberoi Realty, Godrej Projects from Mumbai and Sobha Developers, Prestige and Brigade Enterprises from Bangaluru.
JC Sharma, VC and MD, Sobha Developers says the company may not meet its sales value target due to slowdown in Chennai and Bangalore markets.
There has been a dip in demand for the high-end housing but has been compensated by demand for lower-priced or small-sized products, said JC Sharma, Vice Chairman & Managing Director of Sobha.
JC Sharma, MD, Sobha Developers, says the first phase of the project is already underway and is expected to finish within seven years.
The demand for residential segment was muted in all markets except Bangalore. However, operational data in Q4 improved year-on-year and quarter-on-quarter.
JC Sharma, vice-chairman and managing director of Sobha Developers, believes the next quarter will be better than the last one.
Sobha Developers is likely to miss its FY14 guidance of 4.2 million square feet in sales and volumes of Rs 2,600 crore, Vice Chairman and Managing Director JC Sharma told CNBC-TV18. He, however, said he did not expect the sales weakness to continue into next year.
In an interview to CNBC-TV18, JC Sharma, Vice Chairman & MD of Sobha Developers informed that the NRI interest in the Indian real estate has been growing significantly.
JC Sharma, vice-chairman & MD, Sobha Developers, says that once the interest rates start declining, there will be a positive impact on the real estate sector.
Sobha Developers has revealed its sales figures for Q1 and the company has posted a very good performance with a 26% increase in land sales year-on-year (YoY), with the figure standing at 840,000 sq ft. The value of revenues made in Q1 is up 58% YoY at Rs 480 crore.
By focusing on cities with fast income generation, Sobha Developers aims for double digit growth in volumes in FY13.
J C Sharma, MD, Sobha Developers believes that the forthcoming Budget will decide how the demand situation will pan out going forward.
In an interview to CNBC-TV18, JC Sharma, managing director, Sobha Developers said, "We remain confident and as we have communicated that this Rs 1,500 crore guidance should be achieved comfortably in this financial year. Going forward, we hope to do better."
In an interview with CNBC-TV18, JC Sharma, MD, Sobha Developers said real estate industry is interest sensitive. He believes that this continuous hike by RBI is impacting the growth of the industry. He maintains company’s guidance to launch 11 million square feet in FY12.
Ashish Puravankara, Director, Puravankara Projects said the company is very excited and positive about its Coimbatore project. The company has already obtained sanction for it and plans to launch the project towards the end of this month.