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For big realty cos, price cuts aided strong sales growth

DNMUM437993 | 6/20/2019 | Author : Ateeq Shaikh | WC :555

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Scaling up Huge debt pile and liquidity crunch prompt several realty firms to slash prices and boost sales


Notwithstanding the ongoing liquidity crunch and other disruptions, several big realty companies, listed and private, have reported strong sales growth in the fourth quarter of the last fiscal year (2018-19), mainly on the back of price rationalisation.
“Underpinned by an increase in deliveries, the area sold during FY19 by the companies, comprising ten large listed entities, stood at a robust 32.19 million square feet (mn sq ft), registering a 44% growth over the previous year,” an Icra report said.
“This sales velocity reflects the highest level achieved over the past five years, with strong sales of 10.99 mn sq ft having been registered in Q4FY19 alone. Sales levels in Q3 FY19 were also robust. Collections also remained high,
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