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Realty Index dips almost 87% from January highs
Published on Tue, Nov 18, 2008 at 13:00 , Updated at Tue, Nov 18, 2008 at 18:56
Source : CNBC-TV18
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Realty Index has declined by nearly 87 per cent from the highs it touched in January. Though the RBI’s recent move has eased, some liquidity to the sector will the pressure ease.
Companies with higher leverage have seen higher decline. Analysts feel that the RBI measures would have limited impact on real estate liquidity. The real issue is lack of demand. More correction in real estate prices may not ruled out. An Indiainfoline study on debt maturing over the next 12 months of real estate companies, shows Unitech, Sobha and Puravankara is higher than estimated revenues. DLF & Anant Raj could raise debt through rental discounting to tide over the crisis. Indiabulls Real Estate balance sheet is fully funded for FY09 & FY10. Kotak Securities feels that the RBI move could lead to lending rates decline of 210 bps for commercial real estate.
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| Dow Jones (Jan 09) | 8599.18 | 143.28 |
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