Home prices will remain flattish for another year, says Pirojsha Godrej

Real estate is a cyclical industry and adjusting the supply of projects is not very easy, unlike in manufacturing, says Godrej

Godrej Properties has lined up over a dozen new housing launches and wishes to buy distressed projects from other developers. Pirojsha Godrej, chairman, tells Raghavendra Kamath the company is following a counter-cyclical strategy when the realty sector is going through a prolonged slowdown. Edited excerpts:

You recently talked about scaling up the business and increasing the market share. How do you plan to do that?

More than half the real estate market in the country is in four cities we are in — Mumbai, Pune, NCR (National Capital Region) and Bengaluru. The market is so fragmented, with 10,000 developers in the country;