Expect positive trend in Mumbai realty to continue, says Puravankara
Puravankara has re-entered the Mumbai market with its first ultra-luxury project in the city at an investment of Rs 450 crore. Abhishek Kapoor, COO-Residential of Puravankara shared his views.
Puravankara has re-entered the Mumbai market with its first ultra-luxury project in the city at an investment of Rs 450 crore. Abhishek Kapoor, COO-Residential of Puravankara shared his views.
“This is more like a home-coming for us. We are very familiar with the home ground that we are in and Chembur as a market per se has got a lack of high-quality branded developer, good product supply gap and we saw this as an opportunity,” he said.
“The Mumbai market has bounced back. We believe that the current trend is sustainable and will continue to proceed in the direction that it has taken,” he added.
“The trend in last six months has given that confidence to the entire real estate market to show that there is pent-up demand and that has come back to the market,” he stated.
He believes the market has come back and for a branded developer the demand is not going to be a challenge going forward.
“Our cash flow collections have jumped. We have reduced debt by more than Rs 220 crore,” he shared.
The company has multiple launches lined up for the next financial year.
“We are very optimistic with the way we are seeing the trend and I think it will continue. We will see continued growth in the business and the profitability and in the top line,” Kapoor mentioned.
For the full interview, watch the video
(Edited by : Anshul)
First Published: Mar 10, 2021 1:06 PM IST
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