In realty, future belongs to trustworthy brands: Sangeeta Prasad

The market is rebooting/resetting itself at present and is sending a message that irresponsible ways of working will not be accepted anymore, says Sangeeta Prasad, MD & CEO, Mahindra Lifespace Developers. In a candid chat with Swati Khandelwal, Prasad said, "Mid-premium and affordable segments will bring good results as people are willing to buy from trustworthy brands like us."

Do you think that the downturn visible in the real estate sector including your company will improve a bit this festive season?

I am very confident about what the government is doing and what is happening in the market. Things are rebooting/resetting itself and sending a message to those who were working irresponsibly that it will not work anymore. I believe the coming time will belong to trustworthy brands like us. It is a time when we should move ahead with our trust and brand capital and think about the customers. The customer should be kept at the top and we should think about their needs because the real estate developers have thought very less about the customers for several decades. Now, it is a time when we should think of that aspect as well and this is the most important element. And, the sentiments seem to be a good one during the festival season and we are scheduled to come up with new launches in the period. I feel a lot of good things are going to be good.

What is the focus area for Mahindra Lifespaces and which segment will have a maximum contribution in terms of returns?

We are focusing on both mid-premium and affordable segments. We are expecting that our new launches in both segments will bring good results to us. The customers are willing to buy from trustworthy brands like us and this is something that is adding on to our expectations. We are hoping and looking forward to a bright future for both ourselves and the customers. Besides, leads are generating for our industrial real estate, Mahindra World City, Jaipur and Chennai, and other industrial clusters and expect a bright future on this front as well.

How much growth is expected in percentage terms in this fiscal when compared to the last year?

We will be launching two mid-premium and one affordable projects in Mumbai and are also planning a project on Pune, which will be launched in this fiscal. We are waiting for approvals for four projects in the residential domain. In the industrial segment, we will like to launch in Ahmedabad and are waiting for certain approvals. The industrial cluster of Chennai is quite strong and Japanese customers have reached there, and the project's lead pipeline is very strong. The same goes with the Mahindra World City Jaipur. Thus, we are expecting growth with these projects.

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