In an interview with CNBC-TV18, MR Jaishankar, CMD of Brigade Enterprises, spoke at length about how business is faring across housing, commercial and retail segments.
Speaking about residential business, he said the demand has been steadily going up as far as cities in South India are concerned.
“The last time I spoke to you I had said that in Q2 we will do 50 percent more than Q1, but we have done 50 percent more in the first 2 months itself, and if all goes well, we may reach Q2 of FY20... And it may be almost 100 percent more than whatever sales we clocked in Q1. The Q1 sales were about 60 percent less than Q1 of the previous year. Therefore, we are happy that things are coming back to normalcy as far as residential business is concerned,” said Jaishankar.
According to Jaishankar, luxury apartments priced at Rs 4-5 crore are beginning to see sales.
On the commercial business front, he added, “The business is happening, the enquiries have improved and once international travel comes to normalcy, the major decision-makers from Asia Pacific and the United States are likely to land and take calls. Therefore, we expect Q3 of FY21 should be much better.”