Piramal Realty gained 4 times sales booking with Rs 3,400cr in FY’19.

By Abhay Harish Shah , Realty Quarter

Piramal Realty, led by Anand Piramal Realty, saw the improvement of housing needs almost four times as high as Rs 3,400crore during 2018-19. In the past fiscal year, Piramal Realty sold nearly 1,000 apartments with more than half of total sales in South Mumbai. In 2017-18, the company booked sales of Rs 900crore.

Anand Piramal said, “We are looking at sales of Rs 3,800crore for the current year”. Also, he said that the company is looking forward to doubling its portfolio to 30million sq.ft in the next two years.

Till now Piramal Realty has managed to launch more than 3,500 units under five real estate projects. Piramal explained, that because of strict rules and regulation like RERA and Demonetization the market of Mumbai has a lot of potentials and so they are going to focus on Mumbai only. The data showed that in the last fiscal year in the Mumbai Metropolitan Region, the inventory got sold worth Rs 80,000crores.

Piramal said, “Because the working population is constantly flowing in, Mumbai has been exponentially increasing and we believe that it has a great deal of untapped potential as one of the largest and most stable real estate markets in the country.” He also mentioned the possibilities for partnerships with other developers and the acquisition of good land.

Also, he said, “That the demand for the residential sector increased because of the implement of new reforms and improved market perceptions. Home-buyers are now confident due to an increase in transparency and clarity in property transaction”.