Deepak Parekh says slowdown temporary as demand for assets growing

The demand for commercial real estate has been buoyant, especially across the top eight cities, Parekh added

HDFC chairman Deepak Parekh exuded optimism that the slowdown, driven by lower consumption, is "temporary" in nature as there is adequate demand for assets across the country.

There has been a distinct slowdown in the economy which was reflected in the lower GDP growth of 6.8 per cent in FY19, he said.

"While there has been an across-the-board slowdown in consumption, given the inherent demand and low penetration levels, I believe this is temporary in nature," he told the shareholders at the 42nd AGM here Friday.

There remains adequate demand for affordable housing across the country, which is supported by the government flagship