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Informist, Friday, Jun. 27, 2025

 

By Shakshi Jain

 

NEW DELHI – Realty major Hiranandani Group is not looking to launch an initial public offering this calendar year, company Founder and Chairman Niranjan Hiranandani told Informist. "I don't need the money just now and we're not looking for a valuation today," he reasoned. On asking if the company would be considering it next year, Hiranandani said, "Maybe, even I don't know", and smiled. Hiranandani was speaking on the sidelines of the fourth convention of NAREDCO Mahi, the women's wing of the National Real Estate Development Council, here.

 

Even as industry data reflects year-on-year moderation in housing sales and supply across India's top seven cities in the June quarter of 2025, Hiranandani is bullish on growth of the sector, particularly in light of easing interest rates. "It is a good time for any company to go public today because India is the centre of gravity. Number 2, real estate is going to do very well in the next couple of years as a macro picture...my worry is only the affordable housing segment...when you have a country growing at 6.2% and interest rates are coming down, growth is going to happen. The combination is lethal", he said. Hiranandani estimates the housing market will grow by 15% in the full year.  

 

According to a report by property consultancy Anarock released Thursday, around 96,285 homes were sold across India's top seven cities in Apr-Jun, against 120,000 units in the same period last year. Barring Chennai, the remaining six geographies –- National Capital Region, Mumbai Metropolitan Region, Bengaluru, Pune, Hyderabad, and Kolkata -- recorded a year-on-year decline of 8-27% in residential sales during the second quarter.

 

Meanwhile, fresh supply in the three-month period declined 16% on year to 98,625 units across the seven cities. According to the report, luxury and ultra luxury homes priced over INR 15 million drove new supply during the quarter with a 46% share, followed by the mid and premium segments comprising homes priced between INR 4 million to INR 15 million, which accounted for a 21% share of the pie. Share of the affordable housing segment in new supply during the June quarter across the top seven cities stood at 12%.

 

On affordable housing, whose share in residential supply has dropped sharply in recent years, Hiranandani said high taxation is a major challenge. In contrast, due to higher pricing in the mid and luxury segments, sales become sustainable for developers despite high taxation, he added. Among other challenges for the real estate sector in India, he listed shortage of skilled labour. Hiranandani Group is short of 500 skilled workers presently, he added.  End

 

Edited by Deepshikha Bhardwaj

 

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