Track2Realty Exclusive: Property analysts across the country refer Coimbatore as a market where the effects of slowdown is least visible. At a time when the other property markets across the country are reeling under slackening demand among other major worries, Coimbatore is proving to be a market where the property transactions are happening at a decent pace.
Track2Realty Exclusive: While the real estate market in the metro cities have been flirting around with the NRIs to woo them with big-ticket investments, the discerning expat Indians had some other ideas. The destination to those desirable ideas was definitely not leading them to metro cities. So, at a time when the spate of luxury and super luxury launches were put on offer, the match makers of pricey dollars preferred to court the humble markets where the modest rupee was well grounded not to flaunt with pomp and show.
Track2Realty Exclusive: Highly speculative markets are always highly susceptible to speculation as such markets are mostly sentiment driven. These are the markets where investors are by and large the project riders and hence the movements in the power corridors do affect the market to a great extent. Coimbatore real estate, on the contrary, is a market which has traditionally been neither susceptible to speculation nor the investors have been on prowl.
Track2Realty Exclusive: A stable property market that has done reasonably well in 2013, why should the developers in down town south be bothered about the General Elections ahead, asks a property analyst. Well, the answer can not be in straight yes or no but the market trends indicate Coimbatore definitely will be less susceptible to the elections than many other property markets across the country.
Track2Realty Exclusive: The Coimbatore real estate has by and large outperformed the rest of the country. This better-than-national average performance during the year 2013 has been remarkable at a time when some of the matured property markets were witness to sales plummeting with stress both at the buyers’ as well as developers’ level.
Track2Realty Exclusive: Industry experts assert if the neighbourhood does not have the supportive social infrastructure, the demand will be less compared to the well-developed areas. The number of houses remaining vacant in a project in the core areas of the city is less compared to those outside the city.
Can meat & eggs offered to God resolve realty crisis? Well, the real estate community in Coimbatore thinks so. More than 1000 members of the real estate sector, including key promoters, sought diving intervention on Wednesday, Sep 5, to bail them out of the crisis they were in, caused by decreasing demand and prices.
Purvankara Projects have reported its revenues at Rs. 248 Crores; up 30% in Q1 FY ’13. Profit After Tax (PAT) stands at Rs 50 Crores; up 61%, with EBITDA up 34% and EBITDA margin at 48%. Profit Before Tax (PBT) at Rs. 73 Crores; up 66%.
Puravankara Projects Limited has ventured into the Kingdom of Saudi Arabia to cater to the Indian housing needs of NRIs residing there. With the increasing interest among Indians in the Kingdom of Saudi Arabia to invest in luxury and affordable luxury homes back home in India, Puravankara is now well poised to tap this potential market with a permanent presence in the Kingdom of Saudi Arabia through its new branch office in Al Khobar, Dammam.
Bangalore-based real estate developer Puravankara Projects net profit rose 173 per cent to Rs 46.05 crore during the fourth quarter of the last fiscal.
Last year, net profit stood at Rs 20.89 crore during the corresponding quarter.