DIVERSIFICATION CAN MITIGATE MARKET RISKS
The Indian realty sector has been on a path of steady recovery after the pandemic. However, if the government, concerned authorities, industry bodies and developers work in tandem, it will give the necessary fillip to the economy.
Also, a viable approach to address evolving consumer preferences, is to pursue asset-light models, where the developers can join hands with other local developers through joint ventures. This approach will help expand easily into new territories.
Pandemic has been a learning curve for the leaders. It has made us realise the importance of collaboration between teams to reach insightful decisions in difficult situations. Another important lesson is that as a leader, one must be willing to revoke the rigid, old ways and quickly align to the new, digitised way of operations.
The real estate market will see further consolidation and witness the exit of unorganised players. With a strong RERA framework, ESG compliance, the need for better governance and rising customer demands for quality and on-time delivery, the future of the real estate sector is set to take a confident leap ahead.
The promising future of real estate has further reinforced our optimism about Puravankara’s growth trajectory. Over the upcoming years, our collective ambition is to expand our footprint in the western India, at par with our strong presence in the southern India.
Tags : Ashish R. Puravankara DIVERSIFICATION MARKET RISKS ASHISH R. PURAVANKARA MANAGING DIRECTOR