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Budget expectations - Mr. Pradeep Jain, Chairman - Parsvnath Developers Ltd.

Posted On : 2014-07-09 21:53:32( TIMEZONE : IST )

Budget expectations - Mr. Pradeep Jain, Chairman - Parsvnath Developers Ltd.

Mr. Pradeep Jain, Chairman - Parsvnath Developers Ltd.

"We are very optimistic about the upcoming budget and pinning our hopes on the new Finance Minster. This time the industry is eagerly awaiting the industry status which will ensure that policy dispensation available for infrastructure projects also extends to the realty sector. Single Window Clearance with pre-defined timelines should be introduced for speedy approvals and bringing transparency into the sector. Reduction in interest rates for home buyers in affordable segment through interest subvention should be given to lift the buyer sentiments. It is right time that the sector is given an impetus in the form of policy reforms to help improve the economic scenario of the country. For this, Government of India must liberalise its FDI policies and relax it to attract more foreign investors. It should cut down the minimum lock-in period to three years and also minimum investment from USD 10 million to USD 5 million.

As real estate is one of the vital contributors to economy's GDP, Government of India should shift its focus towards this sector and do all the needful to make this sector grow with a CAGR of 20-25% in next 5 years."

Shares of PARSVNATH DEVELOPERS LTD. was last trading in BSE at Rs.31 as compared to the previous close of Rs. 32.5. The total number of shares traded during the day was 62207 in over 711 trades.

The stock hit an intraday high of Rs. 32.4 and intraday low of 30.9. The net turnover during the day was Rs. 1945170.

Source : Equity Bulls