look news india
Ahmedabad: Real estate business is growing rapidly in the country after the Corona period. The favorable effect of which has also been seen on the debt of this industry. The debt of listed developers (listed real estate companies) has reduced significantly. These include Shobha Limited, Purvankara Limited, Prestige Estates, Kolte Patil, Mahindra Lifespaces, Godrej Properties and Lodha Developers (Macrotech).
Property advisory firm Anarock Group has analyzed financial data of listed developers. In which it was found that after the peak date of these developers it has decreased by more than 50 percent.
According to Anarock, at the end of FY 2018-19, 8 listed developers had assets worth Rs. There is a net debt of Rs 44,817 crore, which has reduced to Rs 44,817 crore by the first quarter of the financial year 2024-25. 20,808 crores. Thus, the debt of these developers reduced by 54 percent during this period.
At the end of the financial year 2018-19, the debt of listed developers reached the highest level in the last decade. There has been a significant increase in the sales of these developers. Due to which their debt has reduced by 54 percent from its highest level. According to Anarock, the collective booking value of these 8 listed developers in the financial year 2018-19 was Rs. Which increased by 234 percent to Rs 27,144 crore. 90,573 crores.
In the first quarter of the financial year 2024-25, this figure was recorded at Rs 26,832 crore. Which is 99 percent of the total booking value of the financial year 2018-19 and 30 percent of the total booking value of the last financial year. Major listed developer DLF's debt has fallen by more than 165 per cent from 2018-19 to the first quarter of 2024-25.
During this period, the debt of Kolte Patil has reduced by 107 percent and the debt of Lodha Developer has reduced by 83 percent. However, the debt of some developers has increased. However, the booking price of these developers has increased. But the race to buy land in many cities for aggressive expansion has increased their debt.