DLF hopeful of improvement in realty sector sales within 18 months
Addressing analysts in a conference call on Friday, bigwig realty firm DLF’s group CEO Ashok Tyagi said that the company is hoping to see a steadiness in sales in the real estate sector in the next 18 months or so.
Tyagi’s projections of an al least 18-month time period for the sales in real estate sector to get steady comes in spite of the fact that there has been a marked improvement in sentiments ever since the new, stable government has taken charge under Prime Minister Narendra Modi.
Tyagi feels that noteworthy betterment of the realty sector will start showing up only after about one-and-a-half years after the formation of the new government. Tyagi said that DLF expects a growth in consumer demand for housing only by the second half of the fiscal year 2015.
Pointing out that “the last two quarters have been the worst” for the real estate sector, Tyagi told the attendees at the conference that though “there is certainly an improvement in sentiment,” not much change in visible as of now.
Tyagi also revealed that DLF’s concerns with regard to the slow pace of home sales in several markets – particularly in parts of Gurgaon – has prompted the company to consider alternative products and ticket sizes in a few of its projects, which would involve sales of plots and other low-rise developments.
Source – The Times of India
DLF’s group CEO Ashok Tyagi, fiscal year 2015, Prime Minister Narendra Modi, property in Gurgaon, Tyagi’s projections
