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After dull Q4, realty firms see better days ahead

By BS Reporter
June 02, 2014 12:04 IST
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HousingReal estate developers, which announced their financial results last week, see better days ahead as buyers are upbeat after the new government has taken charge at the Centre.

This has come after several months of subdued property transaction.

“We are already seeing great changes in sentiments. It will take a couple of months for that optimism to convert into demand,” said Ashok Tyagi, chief financial officer, DLF, in a conference-call with analysts after its fourth quarter results.

The company reported sales of 3.75 million square feet in FY14.

The net profit stood at Rs 219.68 crore

for the quarter, on the back of gains from sale of hotel chain Aman Resorts.

The firm had a net loss of Rs 4.2 crore in the year-ago period.

“Sales volume in most geographies shall continue at a moderate pace, similar to FY14.

Any growth uptick shall be only in the second half of FY15,” the company said in its earnings presentation.

Another Delhi-based developer Parsvnath also expects improvement in realty market.

“Buyers, who have been in a wait and watch mode will be in action after the formation of the new government.

"The next half of 2014 is expected to witness an increase in the realty price,” said Pradeep Jain, chairman, Parsvnath Developers, after announcing the results.

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BS Reporter in Mumbai
Source: source

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