The impact of Lehman Brothers filing for bankruptcy will impact those Indian real estate developers who have not structured their agreement carefully, opines Sanjay Dutt, joint managing director, Cushman & Wakefield. He does not forsee a situation where projects would get shelved. "Most of the funds that were committed has been delivered." Dutt is of the opinion that if projects get shelved it is mostly because of changing market dynamics and not because of lack of liquidity.
Experts think that in a bid to de-risk these investment bankers would trade their private equity placements. India is still a growth story and as far as the real estate investment is concerned it is very attractive from a long-term perspective.
Reflecting on the same lines, Shobhit Agarwal, joint managing director, capital markets, Jones Lang Lasele Meghraj says, that Indian impact of the buyout of Merrill Lynch and collapse of Lehman Brothers, the world's third and fourth largest investment banks, would be limited. With Merrill there will be no impact, says Aggarwal "as there is a shakeup on the banking side only".
He expects the industrial side to continue on a straight line. The asset management money is mainly third party fund and the bigger picture would take some time to unfold.
While explaining the reason for fall in realty stocks, he says, "it is a result of temporary negative sentiments". He thinks there will be no impact on investments though he predicts that the volume of FDI will sink. He also expects fund managers to become more cautious in the future.
"In the next six to twelve months I see a lot of PE funds who had limited exposure before, coming into the market," says, Dutt. This is a time to watch out for as it is a golden era where opportunities will be in abundance.
Vimal Shah, managing director, Akruti City, told FE, "Lehman Brothers development will not directly impact the real estate market much. However, the sentiment is getting impacted to some extent".
According to Shobhit Agarwal, "Lehman Brother's real estate holdings comprise Orbit, Anant Raj and IVRCL on the equity level and Unitech and DB Realty on the project level".
Bigger realty firms like DLF, Ansal API, Unitech has had exposure to these firms.
Last year DLF had diluted 49% of its stake in seven mid income housing (MIG) to Merrill Lynch. According to a DLF spokesperson, "We have received Rs 14.81 billion from them for dilution of stakes in these projects". He clarified, "Since we have already received the money, we are not worried about the buy out."
4 comments:
Hi !.
might , perhaps very interested to know how one can make real money .
There is no need to invest much at first. You may commense to receive yields with as small sum of money as 20-100 dollars.
AimTrust is what you thought of all the time
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become really rich in short time?
That`s your chance That`s what you really need!
I feel good, I started to take up income with the help of this company,
and I invite you to do the same. If it gets down to select a proper companion who uses your savings in a right way - that`s AimTrust!.
I earn US$2,000 per day, and what I started with was a funny sum of 500 bucks!
It`s easy to start , just click this link http://oheqapafe.kogaryu.com/zysafy.html
and lucky you`re! Let`s take this option together to become rich
Hello !.
You may , probably curious to know how one can manage to receive high yields .
There is no need to invest much at first. You may commense to receive yields with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with structures around the world.
Do you want to become really rich in short time?
That`s your choice That`s what you wish in the long run!
I`m happy and lucky, I started to take up income with the help of this company,
and I invite you to do the same. It`s all about how to select a correct companion who uses your savings in a right way - that`s it!.
I take now up to 2G every day, and my first deposit was 1 grand only!
It`s easy to start , just click this link http://efiwiwaku.kogaryu.com/iqijes.html
and lucky you`re! Let`s take our chance together to become rich
Hi!
You may probably be very interested to know how one can manage to receive high yields on investments.
There is no initial capital needed.
You may begin to get income with a sum that usually is spent
for daily food, that's 20-100 dollars.
I have been participating in one company's work for several years,
and I'm ready to share my secrets at my blog.
Please visit my pages and send me private message to get the info.
P.S. I earn 1000-2000 per daily now.
http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]
Hello!
You may probably be very interested to know how one can manage to receive high yields on investments.
There is no initial capital needed.
You may begin earning with a sum that usually goes
for daily food, that's 20-100 dollars.
I have been participating in one company's work for several years,
and I'll be glad to share my secrets at my blog.
Please visit my pages and send me private message to get the info.
P.S. I make 1000-2000 per day now.
http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]
Post a Comment