INSUBCONTINENT EXCLUSIVE:
may also face the heat due to the ongoing crisis in NBFC sector, triggered by ILFS default
"As on March 2018, NBFC's exposure towards real estate is 7.5 per cent accounting for Rs 1.65 lakh crore," real estate consultant Anarock
Capital MD CEO Shobhit Agarwal told PTI
"Post the banking systems freeze on real estate funding due to rising non-performing assets, NBFCs and HFCs are the sole source of funds for
much-anticipated recovery will be postponed by a couple of quarters, Agarwal said
lakh crore ($16.3 billion) of commercial paper in October-December, near a record 1.46 lakh crore in August-October, according to available
The consultant quoting Credit Suisse report said NBFCs and Housing Finance Companies (HFCs) have played a major role in credit supply in
a mere seven per cent, a strong 20 per cent-plus growth in NBFC credit aided overall credit expansion beyond 10 per cent."Despite
residential sales gradually picking up q-o-q, they are nowhere near their peak levels
With substantial number of residential projects running behind schedule, the crisis could further exacerbate liquidity woes and impact
across the top 7 cities since their launch in 2013 or before
Many listed realty developers such as Puravankara, DLF, Prestige Group, Oberoi Realty and Godrej Properties have well-diversified portfolios
and many of these have also reduced their debts and ventured into affordable housing where growth is currently the highest, he said.
