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.
In an interview to CNBC-TV18, Dinesh Gupta, COO of Ansal Properties and Gulam Zia, ED of Knight Frank spoke about the outlook for the real estate market.
Dinesh Gupta, COO, Ansal Properties announced a target of achieving 4 million sqft in pre-sales in Q4. Speaking to CNBC-TV18 after the announcement of quarterly results, he adds that the company is on track to meet a target of 20 million sqft for FY13.
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.
Despite slowing sales in June, Dinesh Gupta, COO of Ansal Properties holds their FY13 sales guidance at 18 million sq feet. The strategy of moving from plotted development to the built-up segment is leading to the reduction in sales volumes, explains Gupta.
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, Ansal Properties told CNBC-TV18 that some extraordinary events have led to losses.
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.