Real estate sector signaled the bouncing back. Real estate sector has been undergoing a sluggish momentum which the sector has overcome now.
Real estate majors like Supertech and Ansal API have announced their new real estate launches worth Rs.8,000 Cr. The realty majors plan to invest the amount for a period of 4 years.
Meanwhile some real estate builders are looking for options to cut the debts off by divesting their properties. Yet this is not the case for the coming years. Real estate experts opine that the coming years will be booming years for real estate sector.
DLF, one of the largest real estate developers, is hoping to cut the debt in the coming years. Most of the real estate companies expect better sales despite rising housing prices.
Real estate firm Supertech spoke about its plan to invest Rs.5500 Cr in the coming years. The firm targets Rs.10,000 Cr of annual revenue by 2015. The current annual revenue of the firm is Rs.2500 Cr. The group officials said that they would be investing on land in North India.
R K Arora, Chairman and MD of Supertech, said that the group aims to become one of the leading real estate players by 2015. He expressed his hope that with the investment of Rs.5500 Cr the group will achieve its target.
Supertech plans to invest mainly on housing projects. The group will purchase lands mainly in New Delhi and NCR regions. The real estate major also plans of expanding to Uttarakhand. Presently Supertech owns 1,000 acres of land in the Northern states.
Mr. Arora said, “We will further acquire another 400-500 acres of land.” He added, “An amount of Rs.2500 Cr is kept apart for this.”
NCR centered Ansal real estate firm announced its plan of real estate investment worth Rs.1500 Cr. Ansal group also plans to develop many housing projects across India. The top officials of the company said that the company will become a debt- free firm by 2015.
The company’s Vice chairman and Managing Director Mr. Ansal said that the company presently has a debt of Rs.1350 Cr. He said, “It will be reduced to Rs.1100 Cr by the end of this fiscal year.”
In the same way the company will reduce the debt year by year. By the end of 2015 fiscal year the company will be absolutely free of debt, he added. Mr. Ansal said that the company is repaying the debt. He said that the firm was repaying the debts with the internal cash flows.
Another real estate project- launch was announced by Mantri Realty. It is about to invest Rs.750 Cr. Mantri Realty is about to develop nearly 3 housing projects over the next 2-3 years. The projects are expected to be launched in Karnataka and Maharashtra.
Sunil Mantri, Mantri Realty’s Chairman said that the group will be launching their projects next year. Most of them will be located in Western parts of India. DLF is said to launch some 3-4 projects in Gurgaon in 2013.