Puravankara has closed its targeted AIF (Alternative Investment Fund) of INR 750 crore (including a green shoe option of INR 250 crore). The company targets the final close of the Fund by September 2022. The Fund will invest in a mix of plotted developments and mid-sized mass housing projects under the ‘Purva Land’ and ‘Provident Housing’ brands.
Puravankara stock has been pretty under-valued, claims Abhishek Kapoor, CEO of the company. According to him, it is the perception battle that Puravankara has to weather as the intrinsic value of the stock and the performance of the company is at par with the top real estate companies of the country. In an exclusive interview with Ravi Sinha, Puravankara CEO explains why and how the brand would change the perception in the next few years. Excerpt of the interview:
Home buying is more often than not linked to the financial health of the home buyers. However, mental health is as important as the financial health and the Indian housing market seems to rob the buyers the much needed peace and happiness that comes with an asset class like the home. The stress and anxiety is not limited to finding the right home, rather the real mental stress begins once one has bought the dream house. A Track2Realty pan-India survey.
CREDAI as a real estate industry body fails miserably time & again to gain public & policy level acceptance. Reason: Shady builders have more often than not been operating as the elected office bearers of CREDAI. The situation is all the more grave with CREDAI NCR team that believes in convince, confuse or corrupt philosophy of public, policy & media engagement. In his diary of a real estate journalist, Ravi Sinha highlights how focus on projection than perception change at the ground has been the nemesis of CREDAI in general and CREDAI NCR in particular.
Just when the real estate industry bodies had firmed up their public posturing to halt construction with allegation of cartelisation by the cement & steel producers, there was uneasiness at the developers’ end. Many of them had their back of the envelope calculation as to whether the construction strike would actually help or hurt the business. Track2Realty tries to get into the depth of the issue.
In an interesting year when Godrej Properties lost its sheen, Sobha Limited yet again bounced back as the National Brand Leader after a gap of 2 years. The 10th edition of Track2Realty BrandXReport 2021-22 finds that the market perception vis-à-vis the brands could change dramatically, and it takes all the more care to retain the Brand Leadership than reaching at the top.
Gender equality, or rather lack of it, in the business of real estate is a reality that no one would deny. Real estate by all means is a man’s world in this part of the world. Barring a few exceptions, where the wives or daughters of the developer have been given spotlight, a typical real estate enterprise doesn’t have a sizeable presence of women workforce. A Track2Realty Pan-India Survey.
The home buyers have for long alleged that the RERA has failed to provide them substantial relief in the wake of project delay or defaults. Now the Allahabad High Court has also taken cognizance of the issue and has not only questioned reasons of non-execution but also asked for the roadmap as to how RERA Recovery Certificates would be executed.
A TV debate after the Union Budget 2022-23 caught one of the IPCs (Independent Property Consultant) off guard when the anchor categorically blamed him for real estate not getting its due with the budget. In his defence he could only argue that it is not about one specific report but all the industry reports are guilty of creating such a goodwill for the sector. The satisfactory voices were so profound that the policy makers too found the business capable of self-sustaining without any fiscal incentives.
The Union Budget 2022-23 lacked any fresh ideas as far as the real estate in general and the housing market in particular is concerned. Most of the announcements are more or less the extension of the old schemes and roadmaps. The euphoria of the industry stakeholders ahead of the budget turned into a deafening silence in the next few hours of budget speech.