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Rs 800 bn stuck in stalled realty projects; NBFC concerns overdone: Citi

The study is based on a top-down analysis using the area in projects, selling price of projects, construction status, assumed construction costs and land cost

Puneet Wadhwa  |  New Delhi 

At a time when most real estate stocks have been on fire at the bourses with the S&P BSE Realty index rallying nearly 16 per cent thus far in calendar year 2019 (CY19) as compared to 11 per cent rise in the S&P BSE Sensex, a report by Citi estimates the total capital stuck in realty projects across seven major Indian cities at Rs 800 billion. “Our top-down analysis of 350 large stuck projects across seven cities (Bengaluru, Mumbai Metropolitan region (MMR), National Capital Region (NCR), Ahmedabad, Hyderabad, Kolkata and Pune) shows that around Rs 770 billion to Rs 1.15 trillion ...

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First Published: Mon, November 04 2019. 11:16 IST
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