Higher rates of interests and other financial issues of the market have lowered the demand of the realty and hence the leaders of the industry like DLF and Unitech have gone down with their profit margins. According to the sources of www.propertykhazana.com, it is the lowest among the six financial years and has brought down the industry to a very stumpy level struggling for any margins to sell the units. It brought the net profit of the realty giants DLF up to 69 percent low amounting to around Rs 6.7 billion.
For the Unitech the down percent is bit higher by 74 percent which is far below their earlier prediction of Rs 3 billion. Both the Delhi based realties have been experiencing a tougher time then expected one due to all the combinations of lowering demands and various funds deficiency issues as per the source of www.proepertykhazana.com. The struggle of these leaders is much higher than the actual picture of the Indian realty in recent days.
Jayesh Shroff, a realty expert in Mumbai has revealed that “all the realty companies are at catch “22 situation” and at this stage it has become very difficult to raise money for the projects and hence they have to increase their selling rate. This further leads to reduction in property rates across the country”. DLF suffered the profit reading of Rupees 13.73 billion as compared to Rs 36 billion for the same term a year ago. Unitech was too lowered by Rs 4.9 billion as compared to that of Rs 8.78 billion in the last financial count. For more updates visit www.propertykhazana.com.
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