Not luxury, majority of Brigade Enterprises sales will come from mid-income housing: CFO

economictimes.indiatimes.com:

Atul Goyal, CFO, Brigade Enterprises, says “mid-income housing is doing very well. I will say houses in a price range of around Rs 50-60 lakh to Rs 1.5 crore or so. Our luxury housing is also doing well. There is a lot of demand for that. But 62% to 65% of sales today is in mid-income housing and we think that they should do well going forward and there are reasons for that because there is interest there.”
Just wanted to get in a view as to what the outlook is when it comes to the festive season fast approaching. What are the expectations this time around as compared to last year?
Expectation is very good.

People want to own a home and there is a large appetite in the market. We as a company are more into mid-income housing and mid-income housing is doing very-very well. I will say a price range of around Rs 50-60 lakh to Rs 1.5 crore or so.

Our luxury housing is also doing well. There is a lot of demand for that. But if you see the report, 62% to 65% of sales today is in mid-income housing and we think that they should do well going forward and there are reasons for that because there is interest there.
There is a change in demographic of the investors as more millennials and Gen X are investing into property.

If you see ANAROCK report, 61% to 65% of people today want to invest in real estate. So, it is a positive demand. There is a consolidation of developers.

All developers are doing the right thing. They are seeing to it that inventories are managed very well and they do not oversell themselves. So, their timing is good and this festive season, there should be a very good demand on Q-on-Q basis as well.

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