Although real estate prices have increased by double digits in many regions recently, Pavitra Shankar, Managing Director of Brigade Enterprises states that these increases are already in the past.
Pavitra emphasized that the majority of buyers in the residential real estate market are end users, or those who buy properties for their own use as opposed to investing.
The substantial end-user base contributes to the consistent demand for Brigade's real estate.
She suggested approving a medium- to long-term perspective while analyzing the market, even though investors are still interested in real estate.
Shankar hopes that there is less speculative buying because this will contribute to the market's long-term stability and health.
This year, the company anticipates growing its revenues by 15% to 20%, and in the second quarter, it intends to open 1.5 to 2 million square feet.
According to her, the capital received via the most recent QIP - Qualified Institutional Placement will be utilized as growth capital.
Via the institutional share offer, the real estate developer with headquarters in Bengaluru raised Rs.1,500 crore.
The business's operations span office, retail, residential, and hotel sectors, all of which are doing well. The company wants to take advantage of these favorable market conditions, with an emphasis on driving growth in the residential category.
Brigade Enterprises intends to roll out over 12 million square feet in new launches over the following four quarters. She anticipates that this will greatly enhance sales and create the way for a successful fiscal year.
“It would not be right for us to keep expecting substantial price increases. In the past couple of years, it's been 20-30% increases. I don't think that is sustainable. We are still happy. I would say people in general should be happy with 5 to 6% growth as well,” Shankar added.
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